Smt. Bandana Ray, President

This is a complaint made by one Sri Ranjan Adhikary against the Branch Manager and Managing Director of GREENAGE FOOD PRODUCTS LTD., praying for a direction upon the OPs to return the matured value of Rs.20500/- along with interest @ 10% till realization, and compensation for a sum of Rs.65000/- and litigation cost of Rs.10000/-.

In short, case of the Complainant, is that, he invested a sum of Rs.10000/- for Debentures on 30.06.2011 with the OP No. 2 through OP No. 1 being Certificate No. B/2990/7549/31161. The maturity value of the said deposit was Rs.20500/- and date of redemption was on 29.06.2015. On maturity, Complainant demanded the matured amount from the OP and submitted all relevant documents to facilitate this.  However, OPs have not settled his claim hence, this case.

OP No. 1 appeared without power, the OP No. 2 in spite of receiving summons refused the same so the case is heard ex-parte against OPs.

Point to be considered in this case is whether or not the Complainant is entitled to the relief(s) sought for by him.

Decision with reasons

We have carefully perused the affidavit of the complainant and all the documents filed by the complainant.

After consulting the uncontroverted documents of the complainant we have no hesitation to hold that the complainant is entitled get relief, as prayed for.

This complaint case, thus, succeeds.

Hence,

O R D E R E D

That CC/114/2016 be and the same is allowed on contest against the OPs. OPs are directed to pay, maturity value of Rs.20500/- to the complainant within three months from the date of this order, in default, OPs will have to pay interest at the rate of 10% p.a. till final payment. OPs are further directed to pay compensation of Rs.1000/- and Rs.500/- as litigation cost to the complainant within three months from the date of this order, failing which OPs will be liable to pay Rs.100/- daily as punitive charges which will be payable to the Consumer Welfare Fund.

Let the copies of the judgement be supplied to all the parties free of cost.