Hon'ble Mr. Manojit Mandal, President

Order No.5, dated 07/01/2019

The Complainants are represented by their Ld. Advocate and file hazirah.

Today is fixed for passing order.

The record is taken up for passing order.

The Ld. Advocate appearing for the Complainants contended that the Complainants purchased three Bonds and invested Rs.3,000/- and the O.P No.1 stated that the payment of maturity amount will be credited in the Complainants’ Account on the date of Maturity.  On 13.01.2004, the O.P No.2 issued Certificate of the said Bonds vide Sl. No. 96300024293 of Sahara and in this Certificate, the maturity value/redemption value of Rs.9,000/- was clearly mentioned.  After maturity, the Complainants contacted with the O.P No.1 regarding payment of maturity amount.  The O.P No.1 stated that within a very short period, the maturity amount will be credited in the Account of the Complainants.  But, after a lapse of 7 months, the O.P No.1 did not disburse the maturity amount.  Thereafter, the Complainants submitted a copy of certificate before the O.P No.1 on 17.01.17 and the O.P No.1 received the same.  The Ld. Advocate appearing for the Complainants has further contended that the Complainants sent letters on 10.11.17 and 11.10.18 claiming for disbursement of maturity amount but to no effect.  So, the case should be admitted and prayer of the Complainants should be allowed.

Upon hearing the Ld. Advocate appearing for the Complainants and on perusal of the record, it appears to us that in the complaint and in the certificate being Sl. No. 96300024293 issued by the O.P No.2, it has been mentioned clearly and categorically that the date of maturity of investment was on 13.03.16.  Thus, it is clear that the cause of action in respect of the said investment arose on 13.03.16 when the maturity value/redemption value of Rs.9,000/- was on 13.03.16.  The limitation for the purpose under Section 24A of the C.P. Act, 1986 began to run from 13.03.16 and therefore, the complaint before this Forum against the O.P for deficiency in service, ought to have been filed within two years thereof.  However, the complaint was, in fact, filed on 10.12.18.

In the complaint, the Complainants have clearly and categorically stated that they contacted with the O.P No.1 regarding payment of maturity amount and at that time, the O.P No.1 stated that within a very short period, the maturity amount would be credited in their Account.  But, the said case of the Complainant is not substantiated from any documentary evidence on record.  The Complainants have not also provided any document to prove that O.Ps assured them that within a very short period, the maturity amount would be credited in their Account.  Moreover, it is found that the complaint filed on 10.12.18 was also without an application for condonation of delay.  Therefore, it was manifestly barred by limitation.

Under the facts and circumstances, we are of the view that the complaint case is not maintainable as the same is barred by limitation.

Hence,

            It is Ordered

That the complaint case be and the same is dismissed since the complaint is barred by limitation.

Let a plain copy of this Order be supplied to the parties concerned by hand/by Post forthwith, free of cost for information & necessary action.  The copy of the Final Order/Judgement also available at www.confonet.nic.in.

Dictated and corrected by me.