In the matter of a complaint filed by the above named Complainant for deficiency in Service on the part of Branch Manager, Sahara India Credit Co-operative Society (O.P No.1), Regional Manager, Sahara India, Balasore (O.P No.2), Sahara India Commercial (O.P No.3), Corporate/ Zonal Head, Sahara India (O.P No.4).
The Case of the Complainant in brief is that, the Complainant had deposited Rs.7,03,000/- by way of 37 no’s of fixed deposit policies under O.P No.1 on 30.06.2017. The O.P No.1 only for their benefit had opened 37 no’s of policies instead of one policy. Accordingly, the O.P No.1 issued policy bonds to the Complainant. The details of 37 no’s of policies vide Policy No., Date of Commencement, Date of maturity, deposit amount and maturity amount were clearly mentioned in the schedule “B” of complaint petition. As per the policy bonds, the dates of maturity were 30.12.2018. The Complainant after Maturity approached the O.Ps in writing to pay the maturity amount. But the O.Ps intentionally avoided to pay the maturity amount. After Several requests, the Complainant on 27.05.2019 sent a legal Notice with a request to pay the fixed deposit maturity amount. Though the O.Ps received the letter, but utterly failed to give any reply. The O.P No.1 on 10.07.2019 denied the Complainant to give any maturity amount. So, the Complainant finding no other way filed this case against the O.Ps with a prayer to refund the fixed deposit maturity amount with 16% interest from the date of maturity till its recovery. Further, the Complainant prayed for compensation and litigation cost.
2. The O.Ps though received the notice issued from this District Commission, but they neither appeared nor filed w/v, for which they were set ex-parte vide order dtd. 24.11.2021.
3. Points for determination :-
- Whether non-refund of maturity amount of the said fixed deposit policies by the O.Ps amounts to deficiency in service on their part ?
- Whether the Complainant is entitled to get the relief as sought for ?
Findings
4. Points (I) & (II) - Since all the points are inter related, they are taken up together for the sake of convenience. The learned counsel on behalf of the Complainant submitted that on 30.06.2017, the Complainant has deposited Rs. 7,03,000/- by the way of 37 no’s fixed deposit policies and accordingly, the O.P No.1 issued the policy bonds in favour of Complainant. It is further submitted that the said policies were matured on 30.12.2018. The Complainant after the date of maturity, approached the O.Ps to pay the maturity amount. But, the O.Ps remained silent and did not take any further step regarding the payment of maturity amount against the fixed deposit policies, which amount to deficiency in service on their part.
On perusal of documents filed by the learned counsel of Complainant and it is seen from the 37 no’s of policy bond that the said bonds are issued by O.P No.1, mentioning the Regd. Office i.e. O.P No.3 in favour of the Complainant amounting to Rs.19,000/- each. The bonds were issued on 30.06.2017 and the said policies were matured on 30.12.2018 i.e. for the period of 18 months. The said bonds are duly signed by the authorized signatory of O.P No.1. It is further seen from the pleader notice issued on dtd. 27.05.2019 that the Complainant has sent one pleader notice to O.P No.1, 2 & 3. All the three O.Ps had received the notice. It is clearly revealed that the O.Ps intentionally avoided to refund the matured amount against the said 37 no’s of fixed deposit policies, which amounts to deficiency in service on their part.
From the documents and foregoing discussion, we hold that the O.Ps after receiving the notice of this Commission, didn’t choose to appear or file w/v. Sufficient time also provided to the O.Ps, but the O.Ps remained silent. Further the Complainant has deposited a huge amount i.e. Rs.7,03,000/- since 30.06.2017, but till today the O.Ps didn’t refund the matured amount to the Complainant. In the mean time, already four years were elapsed. The O.Ps didn’t take any steps towards release of the matured amount against the 37 no’s of polices till today, which amounts to deficiency in service on their part and the Complainant is entitled to get the relief as sought for.
O R D E R
The Consumer case filed by the Complainant is allowed on ex-parte. The O.Ps are jointly and severally directed to refund the total fixed deposit maturity amount of above said 37 policies. The O.Ps are further directed to pay Rs.5,000/- towards compensation & Rs.2,000/- towards litigation cost to the Complainant within one month from the date of receipt of this order, failing which the O.Ps shall be liable to pay interest @ 8% p.a on the total amount including compensation & litigation cost to the Complainant till realization.
Pronounced in this open District Commission on 8th December, 2021 given under my signature and seal of this District Commission.
