Date of filing              :    15.11.2018.

Decided on                  :    19.11.2019.

J U D G E M E N T

Sajal Kanti Jana, Member – This consumer complaint under section 12 of the C.P. Act, 1986 has been filed by the complainant Seema Agarwal against the O.ps. named above  alleging deficiency in service on the part of the O.ps.

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

       On 03/01/2012 the complainant invested a sum of Rs.5,000/- in the fixed deposit scheme of the O.p. for a period of 96 months and as per terms of the said scheme the complainant would get Rs.13,060/- towards redemption value of such investment after expiry of 96 months. Before expiry of the redemption period, the complainant requested the O.p. no.1 for pre-mature withdrawal of her investment but the O.ps. did not pay the said amount to the complainant. Hence the complaint, praying for directing the O.ps. to pay to the complainant the redemption amount of Rs.13,060/- after deducting the penalty charge for pre-mature withdrawal and for an order of compensation and cost.

       O.ps. have contested this case by filing a joint w.v. Denying and disputing the case of the complainant, it is the case of the O.ps. that the complainant is not a consumer, that the relationship between the O.ps. and the complainant is debtor and creditor and therefore the transaction between the parties is commercial-in-nature and no action lies before this Forum. It is also contended by the O.ps. that the complainant failed to comply the terms and conditions and there is no deficiency in service on the part of the O.ps. O.ps. therefore claim dismissal of the complaint with cost.

POINT FOR DECISION

          Is the complainant entitled to get the reliefs, as prayed for?

DECISION WITH REASONS

It is not denied and disputed that the complainant invested a sum of Rs.5,000/- vide certificate no.351003232315 on 03/01/2012 in the scheme of the O.ps. for a period of 96 months. It appears from the copy of said certificate that the complainant is entitled to get maturity amount of Rs.13,060/- after expiry of 96 months. From the said certificate it also appears that after completion of 60 months the complainant can take pre-stage maturity payment prior to the declared tenure. It appears from the petition of complaint as well as from the evidence of the complainant that after expiry of 60 months the complainant by sending a letter dated 24/08/2018 requested the O.ps. to pay her redemption amount of such investment after deducting charges for pre-mature withdrawal. It is not denied and disputed that the O.ps. failed and neglected to pay the amount of pre-mature withdrawal of such deposit to the complainant. Therefore the complainant is entitled to get the reliefs as prayed for.

The petition of complaint therefore deserves to be allowed.

Hence,

          it is,

O R D E R E D

that the complaint case no.402/2018 is allowed on contest with cost against the O.ps. O.ps. are directed to pay to the complainant the redemption amount of Rs.13,060/- after deducting charges for pre-mature withdrawal as per terms and condition of the scheme together with interest @6% per annum from the date of filing of this complaint till payment.

O.ps. are further directed to pay Rs.3,000/- as compensation and Rs.1,000/- as litigation cost to the complainant.

All such payment shall be made within 2(two) months from this date of order.

Let plain copy of this order be given to the complainant free of cost.

Dictated and corrected by me.

(Sajal Kanti Jana)   

Member, D.C.D.R.F.,

Howrah.