Judgment : Dt.22.9.2017

Shri S. K. Verma, President.

            This is a complaint made by one Smt. Samita Chakravarty, wife of Sri Sourav Kr. Chakravarty, 18, South End Garden, P.S.-Patuli, Kolkata-700 084 against Teachers Welfare Credit & Holding Ltd., 10/99, Bijoygarh, P.S.-Regent Park, Kolkata-700 092, OP No.1 and Sri Swapan Ghosh, Director, Teachers Welfare Credit & Holding Ltd., 10/99, Bijoygarh, P.S.-Regent Park, Kolkata-700 092, OP No.2,  praying for refund of Rs.3,00,000/- return back the matured value of the term deposit with interest, compensation and litigation cost.

            Facts in brief are that OPs are registered non-banking institution. OPs induced the Complainant to keep fixed deposit at their institution with assurance that they would return the matured value on due date. Complainant deposited Rs.1,50,000/- on different dates and the matured value was Rs.3,00,000/-. On maturity of the aforesaid sum, Complainant requested the OPs to pay the matured value. But, OPs did not oblige. Thereafter, Complainant sent a letter on16.12.2016 through her advocate. Even after receipt of the notice, OPs did not return the matured value. OPs replied the letter of the Complainant and agreed to return the money by installments, from the month of April, 2017. But, did not do so. So, Complainant filed this complaint.

            OP did not contest the case by filing written version and so the case is heard ex-parte.

            Main point for determination is whether Complainant is entitled to the refund of Rs.3,00,000/- which is allegedly the maturity value of the deposited amount by the Complainant.

            In this regard, Complainant has filed original receipts bearing No.10363/13644, 10364/13644, 10565/13701, and 10566/13701 which reveal that she has deposit of Rs.1,50,000/- and received the receipt from the OPs. Further, it is clear that as per maturity value, OPs were obliged to pay Rs.3,00,000/- to the Complainant by 24.5.2015 and 10.7.2015 as the dates are mentioned in the receipts. But, OPs did not do so. So, we find that Complainant is entitled to Rs.3,00,000./- with interest of 10%p.a. from the date of filing of this complaint. In addition, Complainant is entitled to compensation of  Rs.10,000/- and litigation cost of Rs.5,000/-.

            Hence,

ordered

            CC/212/2017 and the same is allowed ex-parte. OP is directed to pay Rs.3,00,000/- to the Complainant within three months of this order, in default the amount shall carry interest from the date of the complaint @ 10%. In addition, OP is directed to pay Rs.15,000/- to the Complainant as compensation and litigation cost, in default this amount shall also carry interest from the date of complaint till realization.