Final Order / Judgement

Date of Filing             :    13 December, 2019.

Date of Judgement    :    19 September, 2023.

Mr.  Dhiraj Kumar Dey,  Hon’ble Member.

            This case arises when Sri Raju Gupta, hereinafter called the Complainant, filed a complaint under Section 12 of the Consumer Protection Act, 1986, hereinafter called the said Act, against the Branch Manager, Domjur branch of  M/s. Humara India Credit Cooperative Society Ltd., hereinafter called the Opposite Party or OP, alleging deficiency in service occurred from the part of the OP arising out of non-payment of maturity amount by the OP company.

            The material facts of the complaint and the annexed documents attached with it are that the Complainant deposited a total sum of Rs.4,58,105/- on 31/05/2016 and 09/09/2016 in a particular scheme named ‘F36 GOLDEN VM’ of  M/s. Humara India Credit Cooperative Society Limited, the OP company as stated hereinabove. The OP company issued total 29 (twenty nine) certificates on 31/05/2016 and 09/09/2016 for such deposit in favour of the complainant and the date of maturity was written as 31/05/2019 and 09/09/2019 respectively and the total maturity amount as calculated on the basis of maturity amount written in these certificates was Rs.7,03,649/-.  Complainant alleged that after the maturity date he repeatedly requested the OP to disburse the maturity amount but every time the OP company did not pay any heed to his requests.  Finding no other alternative way the complainant came to this Forum/Commission  and filed this complaint praying to direct the OP company: (i) to refund the maturity amount of Rs.7,03,649/- along with interest, (ii) to pay compensation of Rs.2,00,000/- for causing physical and mental harassment and (iii) litigation cost of Rs.25,000/-.

Complainant filed copies of (i) 29 certificates issued by the OP company on 31/05/2016 & 9/9/2016 and (ii) the complainant’s EPIC card as annexure to the complaint petition.

            Notice was served upon the OP, after admission, to appear and contest the case by filing their written version.  OP appeared through their Ld. Advocate and filed their written version.  Then the complainant filed his Evidence on Affidavit through his Ld. Lawyer.  Later, the OP failed to file any questionnaire and Evidence on Affidavit.  Ultimately argument was heard in full and the complainant filed his Brief Notes on Argument.  We have now come to the position to deliver the Final Order in this case.  We have to decide whether the OP is deficient in rendering proper service to the complainant for which she is entitled to get relief as prayed for.

DECISION WITH REASONS

            The factual matrix of this case as emerged from the complaint and the annexed documents is that the complainant had deposited a total sum of Rs.4,58,105/- on 31/05/2016 and 09/09/2016 in a scheme named as ‘F36 GOLDEN VM’ of M/s. HUMARA INDIA CREDIT COOPERATIVE SOCIETY LIMITED, the OP company as stated hereinabove, having its registered office at Mangal Jyoti, 101, 227/2, A. J. C, Bose Road, Kolkata – 700 020. The OP company issued total 29 (twenty nine) certificates to the complainant on those dates.  The tenure of all these deposits was  for 36 months.  The details of deposits and the corresponding certificates issued by the OP company stating the maturity amount and date of maturity are given below:

            So, according to the statement made in the complaint and from the above table, complainant deposited total Rs.4,58,105/- in a particular scheme of the OP on 31/05/2016 and 09/09/2016. Complainant stated that after the date of maturity he made request on 31/05/2019, 09/09/2019 and thereafter on many occasions to the OP to disburse the maturity amount which, as per the above noted certificates, was Rs.7,03,649/-.  But the OP- 1 failed to disburse the maturity amount.  Ultimately, finding no other way to get back his invested money he filed this instant complaint before this Forum/Commission.

            In their written version OP denied all the allegations made in the complaint petition. They alleged that the complainant failed to submit the KYC and other documents for his claim for the maturity amount. The OP stated that this complaint was imaginary and liable to be dismissed.  But they failed to establish their statement by explaining it with reasons.  No document has been filed by them in support of their claim.  Here, it is to be noted that the OP has confessed in their written version that there was a ‘maturity amount’ and there was a ‘maturity date’ after which this maturity amount was to be disbursed to the customer/complainant.  However, the complainant must expect the ‘maturity amount’ after the time period fixed for the scheme.  Here, according the complaint, the complainant’s repeated efforts to get back the maturity amount from the OP company became fruitless. Complainant alleged that despite his repeated requests OP company did not disburse the maturity amount of Rs.7,03,649/- in his favour and thereby this case has arisen.

            A question now arises whether the complainant is a Consumer as defined in the Consumer Protetion Act, 1986?  The facts state that complainant deposited some money in a specific scheme of the OP and the OP assured a higher return which means that the OP promised to give service to the depositor in the form of monetary benefit.  This implies that the complainant/depositor is a “Consumer” under the OP as defined under Section 2(1)(d) of the Consumer Protection Act, 1986, who availed “Service”, as defined under section 2(1)(o) of this Act, of the OP company.  It is a settled principle that when a person availed or hired a service of a bank or a non-banking financial company (NBFC) for a consideration then the person can be called as a Consumer under the C. P. Act to that bank or NBFC.  Here the bank or the NBFC, as the case may be, is the Service Provider whose service is availed by the Consumer.  So, a Consumer Commission has the jurisdiction to try a dispute arising out of a dispute in financial transaction like this case. However, we do not know whether the OP company is a registered banking company or an NBFC as there is no documents filed in this case regarding this matter, but the OP company took deposit of the said amount for a particular scheme with a promise to return higher amount after a particular period of time.  Complainant deposited his money with a hope to get return of higher amount from the OP company who were running their business with such offers.  So question of commercial transaction does not arise.  Complainant stated that he visited the office of the OP company frequently to get back the maturity amount but failed. Whether the OP company had issued notice to the complainant after the date of maturity to follow the withdrawal procedure or not is not clear as the OP company did not contest this case after filing their written version, nor the complainant had stated anything on this matter in his complaint petition as well as in his evidence on affidavit and B.N.A.

            However, it is a fact that the complainant has not received the maturity amount for which he has come before this Commission and the OP company is deficient in providing proper service as they have not returned the promised maturity amount.  So, the complainant is entitled to claim the refund of the maturity amount and the OP company is liable to refund the maturity amount.  The OP company is liable to compensate for their deficiency in service and the complainant is entitled to get relief by way of compensation as the promised amount is lying undisbursed with the OP company for four years beyond the maturity date.  Complainant claimed Rs.2,00,000/- as compensation along with interest on the matured amount, but keeping in mind the judgement passed by the Hon’ble Supreme Court in  DLF Homes Panchkulla Pvt. Ltd.  –Vs.– D. S. Dhanda & Others [II (2019) CPJ 117 (SC);  Civil Appeal Nos. 4910 – 4941 of 2019], I think awarding interest @ 9% on the maturity amount with effect from the date of maturity will be sufficient enough as a compensation.  The complainant is also entitled to get Rs.5,000/- as litigation cost as prayed for since he is compelled to knock at the door of this Commission to get relief of his grievance with the help of this Commission.

            Hence,

                                        it is

ORDERED

            That the complaint Case bearing No. CC/401/2019 be and the same is allowed on contest against the Opposite Party.

            The Opposite Party is directed to pay the complainant Rs.7,03,649/- together with a simple interest @ 9% per annum on this amount with effect from the respective maturity dates, till the date of this order within 60 days.  The Opposite Party is also directed to pay Rs.5,000/- as litigation cost to the complainant within this abovementioned time period failing which the entire sum shall carry 9% simple interest per annum till full and final realisation.

            Let a copy of this order be issued to both the parties free of cost.

Dictated and corrected by me

            Member.