SMT. SYEDA SHAHNUR ALI, MEMBER

This is a complaint made by one Tridibesh Roy against the Branch Manager and Director of Alchemist Limited, Haldia, praying for a direction upon the OPs to return the redemption value of Rs. 63,000/- along with interest @ 10% from the date of maturity till realization, and compensation for a sum of Rs.10000/- and litigation cost of Rs.10000/-.

In short, case of the Complainant, is that, he invested certain amount  to OP No.2 at different intervals and received redeemable preference share certificates issued by the OP No.2. The date of redemption of the deposit has been over.

The complainant demanded the maturity value from the Op by depositing all  relevant documents  but in vain.

Under the circumstances the complainant has filed this case for the reliefs as prayed for in the petition of complaint.

The OP No. 1 contested the case by filing written reply and denied all the allegations against it.

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

Decision with reasons

          We have carefully perused the affidavit of the complainant and all the documents filed by the complainant.

         After consulting the uncontroverted documents of the complainant we have no hesitation to hold that the complainant is entitled get relief, as prayed for. The OP no.1 did not produce any documents save and except denial of the case of the complainant.

This complaint case, thus, succeeds.

Hence,

O R D E R E D

That CC/321/2016 be and the same is allowed against the  OP No 1 and ex parte against the OP NO.2. OPs are directed to pay Rs. 63,000/- as redemption  value as stated in the certificates mentioned in the petition of complaint to the complainant within four months from the date of this order for ends of justice, 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.1000/- and Rs.500/- as litigation cost to the complainant within four 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.