The brief facts of the complainant case is that the complainant is an investor of Sahara India Pariwar under Kamarpara F.C Branch of Dakshin Dinajpur. On 11.03.2013 he opened a recurring deposit policy under the Sahara M. Benefit scheme vide account No. 41194800233. The term of the policy was 60 months and the mode of monthly premium of the policy was Rs. 600/- (six hundred) only. The date of maturity of the aforesaid recurring deposit was 11.03.2018.
After the commencement of the aforesaid policy the complainant used to deposit his monthly premium regularly which was duly acknowledge by the office in the pass book. After receiving the premium, the O.P. duly issued money receipts in favour of the complainant. The complainant has deposited 48 installments of Rs. 600/- per month i.e. Rs.28,800 /- (twenty eight thousand eight hundred) only to the O.P. under Sahara M Benefit RD Scheme.
After the maturity of the aforesaid RD Scheme the complainant went to the office of the O.P. and submitted his prayer for withdrawal of the maturity amount along with interest and other benefits but the O.P. refused to accept it then he sent his prayer for getting his maturity amount to the O.P. through registered post vide no EW514998925IN on 12.11.2018. Thereafter on several occasions he went to the office of the O.P. for getting his maturity amount of his RD Policy but in every occasion the O.P. took a new plea and did not pay the maturity amount to the complainant. Finding no other alternatives, the complainant filed this instant case praying for a direction upon the O.P. to pay the principal amount of Rs. 28,800/- along with benefits and interest as per Sahara M Benefit RD Scheme, Rs. 15,000/- as compensation for mental pain and agony and Rs. 10,000/- towards litigation cost.
The O.P. appeared before this Commission and contested the case by filing written version. The O.P. claimed the averments made in the complaint are false and said that the case is not maintainable. It has been further stated by the O.P that due to some litigation pending with SEBI, the Hon’ble Apex Court imposed embargo on the movable and the immovable properties of Sahara groups of companies and the O.P. craves leave of this commission and prays for dismissal of the instant case.
In this case, the complainant has filed examination-in-chief by way of affidavit along with some documents by way of firisti.
- One RD policy (passbook), vide A/C No. 41194800233 issued by Sahara India Pariwar, in the name of Kajal Singha Roy.
- Postal receipt EW514998925IN dt.12.11.2018.
- Money Receipts.
Opposite party also filed examination-in-chief of O.P.W-1 by way of affidavit, no documents were filed.
Points for discussion
- Whether the complainant is a consumer as per provision U/S 2 (1) (d) (ii) of the C.P. Act, 1986?
- Whether there is any deficiency in service on the part of O.P. as alleged?
- Whether the complainant is entitled to get any relief/ reliefs as prayed for?
Decision with Reasons
Point 1
This is an admitted fact by both the parties that the complainant has deposited total Rs. 28,800/- to the O.P. in Sahara M. Benefit RD Scheme, vide A/C No. 41194800233. So, there is no hesitation to hold that the complainant is a consumer within the meaning of the provision U/S 2 (1) (d) (ii) of C.P. Act, 1986.
Point No. 2 & 3
These two points are taken up together as they are interlinked with each other. This is an admitted fact that the complainant has made investment in recurring deposit of Rs. 600/- per month for 48 installments i.e. total amount of Rs. 28,800/- paid to the O.P. in Sahara M. Benefit RD Scheme. After the maturity i.e. 11.03.2018 the complainant went to the office of the O.P. and submitted his prayer for withdrawal of his maturity amount along with interest and other benefits but the O.P. refused to accept it. Then, the complainant sent his prayer through registered post on 12.11.2018. Thereafter, he in several occasions went to the office of the O.P. for getting the maturity amount but the O.P. did not pay the aforesaid maturity amount.
We have gone through the complaint, the written version, evidence of both the parties and documents filed on behalf of the complainant. We have also considered all the documents along with the submission canvassed on behalf of the parties.
It is cleared that the complainant is entitled to get Rs. 28,800/- with interest and other benefits as per terms and conditions of the Sahara M. Benefit RD Scheme. O.P. claimed that the complainant did not purchase any goods or articles although he has deposited as advance for purchasing goods, so he is not entitled to get any remedy in this case.
But, after scrutiny of the terms and condition stated in the RD passbook we do not find any such condition laid down in the passbook of Sahara M Benefit RD Scheme. Moreover, the terms and conditions of the Sahara M Benefit RD Scheme which is described in the pass book Sl. No. 5 (ii) maturity payment of irregular accounts.
According to the terms and condition laid down in the passbook of Sahara M Benefit Scheme, from which it appears that the interest of the invested amount (Rs.28,800/-) is Rs. 8496/- (eight thousand four hundred ninety six ) only.
It is clear that the complainant is entitled to get Rs.( 28,800/- + with interest and other benefits as per the terms and conditions of Sahara M Benefit RD Scheme. So the complainant is a bona-fide consumer of the O.P. From the facts and circumstances of the case, we find that the O.P. has violated the terms and conditions as laid down in Sahara M. benefit RD Scheme. Therefore, we are of the opinion that the O.P. is liable for deficiency in service in not returning the sum invested by the complainant with accrued interest as agreed upon by and between the parties.
All the points are thus decided in favour of the complainant against the O.P.
Hence, it is
ORDERED
That the consumer complaint case No. 56/2019 is allowed on contest in part with cost against the O.P.
The opposite party is directed to pay a sum of Rs. 28,800/- as principal amount/invested amount with interest of Rs.8496/- i.e total (Rs. 28,800/- + Rs.8496/-) = Rs37,296/- (Thirty seven thousand two hundred ninety six) only as maturity amount to the complainant.
The O.P. is further directed to pay the interest @ 8 % p.a. on the aforesaid maturity amount i.e. Rs.37,296/- from the date of maturity till realization by issuing an account payee cheque in favour of the complainant within 45 days from the date of passing this order. The O.P. is further directed to pay Rs. 5000/- towards litigation cost in default complainant is at liberty to execute the order as per law.
Let a plain copy of this order be furnished to the parties forthwith free of cost.
