Date of filing: 02.08.2019                                         

Date of Judgment: 09.11.2022

Mrs. Sashi Kala Basu, Hon’ble President.

This consumer complaint is filed by the complainants namely Anindita Das and Utpal Das under Section 12 of the C.P Act , 1986 against the opposite parties  (referred to as O.P hereinafter) namely (1) Teacher’s Welfare Credit & Holding Ltd.,  (2) Swapan Kumar Ghosh and (3) Dilip Ghosh alleging deficiency in service on their part.

The case of the complainants, in short, is that the complainant deposited a sum of Rs. 50,000/- towards MIS (Monthly Income Scheme) with interest @ 12.5% p.a with the O.P being Account no. F/21596/13/66. The amount payable on its maturity was Rs. 1,00,000/- on 21.08.2017. O.P is a non-banking company registered under the Company’s Act, being represented by its Director Swapan Kumar Ghosh. O.P. paid the monthly interest to the complainant up to the month of December, 2017 but thereafter stopped paying the sum. It is learnt by the complainants that O.P. No. 2 collected money from the common people and thereafter defrauded them by not making any payment after maturity of the investment. OPs have denied to refund the invested money with interest.  So, the present complaint has been filed by the complainants praying for directing the O.P to pay the maturity amount of Rs. 1,00,000/- along with interest @ 12.5% p.a , to pay Rs.30,000/- as compensation and Rs. 50,000/- as litigation cost.

The complainants have filed receipt issued by the O.P being A/C no. F/21596/13/66.

The O.Ps 1 & 2 on receipt of notice though appeared but did not file any written version, thus the case has been heard exparte as O.P. No. 3 also did not take any step.

So, the only point requires determination is whether the complainant is entitled to the relief as prayed?

 Decision with reasons

            In support of their claim as referred to above, complainants have filed receipt no. 21596/28898 in respect of the account no. F/21596/13/66 issued by the O.P company represented by its Director Swapan Ghosh. The receipt was issued in the name of the complainants on deposit of an amount of Rs. 50,000/- for 66 months with interest @ 12.5% p.a. The said deposit was made on 21.02.2012and it was to be refunded on 21.08.2017. The maturity amount payable was Rs.1,00,000/-. So the said certificate establishes the claim of the complainants about deposit of sum of Rs. 50,000/-. According to the complainants, they have neither been pid interest as agreed since January, 2015 nor paid the matured sum on its maturity. Since before this commission, absolutely no contrary material is forthcoming to counter the claim of the complainants, they are entitled to refund of the maturity amount as mentioned in the receipt issued by the O.P.  So, complainant is entitled to the matured amount of Rs. 1,00,000/- along with interest @ 12.5% p.a. as agreed from January, 2015. However, since interest is allowed, we find no justification to pass an order of compensation as prayed for.

Hence,

           ORDERED

That CC/389/2019 is allowed exparte.

The O.P.s are directed to pay Rs. 1,00,000/- to the complainants together with interest @ 12.5% p.a. from January, 2015 till this date within 2 months from this date.

The O.Ps are further directed to pay Rs.8000/- as litigation cost within the aforesaid period of 2 months. In default of payment the entire sum shall carry interest @ 12.5% p.a. till realisation.

On payment of the sum by the O.P, complainant shall hand over the original receipt/certificate to the O.P.