F  I  N  A  L       O  R  D  E  R

Mrs. Babita Chaudhuri, Hon’ble Member:-       This is an application under section 24A of Consumer Protection Act, 1986 filed by the complainant/petitioner, Neelu Agarwal against the Opposite Parties named above alleging the deficiency in service on the part of the Opposite Parties.

Facts of the Complainant’ s case, in brief, is as follows: -

That this complainant, Neelu Agarwal opened a Recurring Deposit Account vide A/c No. 15854802989, Pass Book No. 371011154338 under the scheme of the OPs on 15/07/2013 for a tenure of 60 months on monthly installment basis @ Rs.2,000/- per month and after expiry of said tenure i.e. after 60 months complainant would get a total redemption value of Rs.1,55,400/- only for the said investment. Thereafter, complainant paid 40 consecutive monthly installments up to 25/10/2016 and according paid a total amount of Rs.80,000/- out of said 60 monthly installments into the company of the OPs.

Therefore, after expiry of said redemption period of 60 months complainant went to deposit her all the original papers and documents relating to the said investment to the office of the OPs but they did not receive the same and assured the complainant that after few months they will call the complainant for issuing cheque in his favour for said redemption amount according to installments paid by the complainant after deducting the penalty charges for nor depositing last 20 monthly installments. But, day after day passed, Opposite Parties by mal-activities harassed the complainant.

After that complainant sent Notice to the OPs through speed post on 05-09-2018.

Under the above circumstances, the complainant compelled to file this case before this Ld. Commission and praying for refund the redemption value amounting to Rs.1,55,400/- only after deducting the amount for not depositing last 20 monthly installments (Rs.2,000/-X20) of said recurring deposit with interest from the date of expiry of said redemption period till realization in full and also praying for compensation amount of Rs.1,00,000/- for mental harassment and Litigation Cost of Rs.10,000/- only.

Notice of this case was duly served upon the OPs. The OPs entered appearance and filed Written Version. In Written Version OPs denied the statement made by the complainant. The OPs also stated that due to dispute with SEBI and the matter is pending before Hon’ble Supreme Court of India, as such, delay in payment is happened but they did not file any supporting documents against their statement. Moreover, OPs only filed said Written Version but did not take any steps further till Final Hearing.

POINT FOR DECISION

Is complainant entitled to get relief as prayed for?

DECISION WITH REASONS

            In support of her case the complainant filed Written Examination-in-Chief supported by an affidavit in evidence and she has also filed all relevant documents in support of her case.

            We have gone through the said evidence of the complainant and the documents filed by the complainant.

It appears that in her evidence, the complainant has fully corroborated her case of the petition of complainant and the documents filed by her also lend support to the case of the complainant.

Moreover, Ops only filed said Written Version but did not take further steps till final Hearing.

            In view of the above discussions and findings the case succeeds.

            Hence, it is

O R D E R E D

            That Complaint Case No. 393 of 2018 be and the same is allowed on contest against the OPs with costs.

            The complainant/petitioner is entitled to get relief as prayed for. OPs are hereby directed to refund the redemption value amounting to Rs.1,55,400/- only after deducting the amount not deposited for last 20 monthly installments (Rs.2,000/-X20) of said recurring deposit in favour of the complainant with simple interest @ 6% per annum from the date of expiry of said redemption period till realization in full within 30 (thirty) days from the date of this order.

The OPs are further directed to pay Rs.10,000/- (Rupees ten thousand) only in favour of the complainant as compensation and also to pay Rs.5,000/- (Rupees five thousand) only as cost of proceeding within 30 (thirty) days from the date of this order.

            The complainant is at liberty to put the final order into execution after expiry of the appeal period.

            Supply the copy of this order to the parties free of cost.

Dictated & Corrected by me

    (Mrs. Babita Chaudhuri)

Member, D.C.D.R.C., Howrah