FINAL ORDER/JUDGEMENT
Smt. SAHANA AHMED BASU, Member,
This is an application u/s.35 of the Consumer Protection Act, 2019
Brief fact of the case is that the Complainant deposited an amount of Rs.73,439.00/- on 18.02.2017,against certificates bearing Nos. 465002842250 and 465002842249 with OP under F-64 Golden A Double Scheme. The maturity dates of those certificates is 18.06.2022 and the maturity value of those certificates is Rs.1,46,878/-. Complainant vide letter dated 05.08.2022 requested the OP to pay the matured amount but the OP deliberately avoid to pay the matured amount. The act of the OP tantamount to deficiency in service. Hence, the Complainant approached this commission by way of consumer complaint seeking payment of matured amount along with compensation and litigation cost.
The Complaint is not contested by the OP and they did not come forward to file any Written Version within the specified period as per CP Act, 2019. As such, the consumer case has proceeded ex-parte against the OP vide proceedings dated 25.04.2023.
Complainant filed an affidavit of evidence. He also filed photocopies of relevant documents like certificates being Nos. 465002842250 to 46500284332249 and request letter dated 05.08.2022 addressed to the OP to refund the maturity amount of Rs.1,56,813/-.
We have heard argument on merit. Perused the evidence of the complainant coupled with materials on record.
Upon perusal of the Consumer Complaint coupled with evidence of the complainant and photocopies of certificates dated 18/02/2017 we find that the Complainant invested Rs.73,439/- to the OP for a period of 64 months under F64 Golden A Doubleplan. The maturity date of those certificates is 18/06/2022 and its maturity value is Rs.1,46.878/-. We have also gone through the photocopy of letter dated 05.08.2022 of the Complainant. The said letter goes to show that on maturity, the Complainant requested the OP to pay the matured amount within 07 days from the date of receipt of said letter. Despite request the OP did not pay the matured amount of those certificates. The OP is fully aware that they are liable to pay the matured amount of F64 Golden A Double plan to the Complainant on its maturity. Complainant invested his hard earned money with the OP. The OP has deliberately made illegal gains by depriving the Complainant from his lawful right. In fact, the OP withhold the maturity amount which no doubt deceitful manner of trade.
It is pertinent to note that despite service of notice of the Complaint, OP did not put in appearance nor the OP filed Written Version in response to the Complaint. As the OP has failed to controvert the allegations in the complaint by filing Written Version, the allegations in the complaint are deemed to have been admitted as correct. It is well settled that the allegation made in the complaint, if not denied is deemed to be admitted as correct. The complainant in his affidavit did support the allegations in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service.
According to the Consumer Protection Act, it is the benevolent piece of legislation to protect the consumers from exploitation. The spirit of the benevolent legislation cannot be over looked and its object is not to be frustrated. The complainant has invested Rs.73,439/- to the OP against F64 Golden A Double plan with the hope to get Rs.1,46,878/- as maturity amount. The act and conduct of the OP is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested his money with the OP, he would have invested the same elsewhere. The complainant cannot be wait indefinitely to get the matured amount. The complainant has suffered mental agony and harassment. It is settled principle of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, the complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of F64 Golden A Double plan along with compensation and litigation cost.
On the basis of the above discussion, the consumer complaint is allowed against the OP with the following directions:-
- OP is directed to pay Rs.1,46,878/- only to the complainant as mature amount.
- OP is further directed to pay Rs.25,000/- as compensation to the complainant on account of mental agony and physical harassment.
- OP is also directed to pay Rs.5,000/- only towards litigation cost to the complainant.
The above directions be complied by the OP within a period of 60 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per Consumer Protection Act, 2019.
Copy of the final order be supplied to the parties as per rules and also be uploaded to the website of this Commission forthwith.
