Smt. Bandana Ray, President

This is a complaint made by one Smt. Soma Manna against the Branch Manager and Managing Director of UNIVERSAL MULTISTATE CREDIT CO-OPERATIVE SOCIETY Ltd., praying for a direction upon the OPs to return the matured value of Rs.626500/- along with interest @ 10% from 12.03.2015 till realization, and compensation for a sum of Rs. 100000/- and litigation cost of Rs.15000/-.

In short, case of the Complainant, is that, she invested a sum of Rs.50000/- per month as recurring deposit from 13.03.2014 with the OP No. 2 through OP No. 1 for one year being Certificate No. RD 0200035836. The maturity value of the said deposit was Rs. 626500/-which matured on 12.03.2015. On maturity, Complainant demanded the matured amount from the OP and submitted all relevant documents to facilitate this.  However, OPs have not settled her claim hence, this case.

OP No. 2 contested the case by filing WV, the OP No1 in spite of receiving summons refused the same so the case is heard ex-parte against OP No1, whereby OP No2 denied all the material allegations of the complaint.  It is further stated that the Complainant claimed the maturity proceeds through his Ld. Advocate without furnishing relevant documents for this purpose. So, this OP asked the Complainant to submit requisite documents, but the Complainant is yet to furnish the same.  Thus, this OP prayed for dismissal of the case.

Point to be considered in this case is whether or not the Complainant is entitled to the relief(s) sought for by him.

Decision with reasons

We have carefully perused the affidavit of the complainant and all the documents filed by the complainant. After going through the W/V of the OP No2 it appears that the OP more or less admitted their fault. OP’s ld. Lawyer submitted that they will pay the claim of the complainant within 3 months. They have also stated that they demanded from the complainant original certificate, original challan from the complainant, but complainant did not file the same. But nothing has been proved by cogent evidence by the OP. Hence, we are of the view that complainant is entitled to get the maturity value of the investment.

This complaint case, thus, succeeds.

Hence,

O R D E R E D

That CC/64/2016 be and the same is allowed on contest against the OP No. 2 and ex parte against the OP No. 1. OPs are directed to pay, maturity value of Rs.626500/- to the complainant within three months from the date of this order, in default, OPs will have to pay interest at the rate of 10% p.a. till final payment. OPs are further directed to pay compensation of Rs.10000/- and Rs.5000/- as litigation cost to the complainant within three months from the date of this order , failing which OPs will be liable to pay Rs.100/- daily as punitive charges which will be payable to the Consumer Welfare Fund.

Let the copies of the judgement be supplied to all the parties free of cost.