SRI SAURAV CHANDRA,                      MEMBER

Facts of the complaint case in short is that being allured and influenced by the attractive interest of the Ops Co. the Complainants invested a sum of Rs. 5000/- on 18.04.2014 with the OP no. 2 through the Op no.1  vide Customer ID No. TLL0543695 and as per receipt Memo No. TA02712000 on 08.04.2014 which was matured on 18.03.2020. Complainants again invested having maturity value of  a sum of Rs. 10,000/- on 08.07.2014 with the OP no. 2 through the Op no.1 vide Customer ID No. TLL0661940 and as per receipt Memo No. TA02711500 on 17.06.2014 which was matured on 17.06.2020.  After maturity the complainants submitted all the necessary documents and claimed the maturity amount of Rs. 30,000/- but the OPs did not pay the same.

          Hence, the complainants have filed this complaint with a prayer for a direction upon the OPs to pay the complainant a sum of Rs. 30,000/- as maturity amount  with interest till full realization of the said amount and other reliefs.

 Summons were issued upon both the Opposite Parties. Despite service of summons the OPs did not appear to contest the case. Hence, the case is heard ex parte against the OPs.

Points for determination are:

 1. Is the case maintainable in its present form and in law?                                                2.    Are  the Complainants entitled to the relief(s) as sought for?

Decision with reasons

Both the points, being inter related to each other, are taken up together for discussion  for sake of brevity and  convenience.

We have carefully perused the affidavit of the complainants and the copy of money receipt/certificate produced by the complainants and find that the particulars of the complaint fully corroborate with the particulars of the certificate. None of the OPs has turned up to controvert the statement of the complaint on oath. So the complainant has been successful in proving his case.

Two decisions reported in 2016(4), CPR 325 (NC) and (2), 2016(4), CPR 723 (NC) have been referred in support of the case of the complainant. It appears that in 2016(4), CPR 325 (NC) it has been decided that non- payment of redemption/maturity amount even on receipt of the unit certificates is an act of deficiency in rendering service on the part of the Company. Here the Opposite Parties did not controvert that the complainants paid the amount as asserted by the complainant.  In 2016(4),CPR 723 (NC) it has been decided that the depositor shall have continuous cause of action to seek recovery of the amount of his fixed deposit.

          In this case it appears that sham paper transaction has been created in order to take deposit of money from the presumably illiterate person.  Consumer law being a beneficial legislation, the Commission cannot overlook that in this way some companies are taking money from the poor people and filling up their iron chest.

          Ld. Advocate for the complainants argued that the complainant along with many persons have been cheated by the op Co. They did not get any offer document from the Opposite Parties except the certificate as above. They have invested money with the Co. on the assurance that they would get maximum value after the maturity period. But they have not received said amount.

          In Civil Appeal No. 3883 of 2007, the Hon’ble Supreme Court has been pleased to observe in the matter dispute concerning a consumer that it is necessary for the courts to take a pragmatic view of the rights of the consumer principally since it is the consumer who is placed at a disadvantage visa vise the supplier of service or goods.

          In view of the aforesaid decisions and on the basis of the uncontroverted statement made in the complaint supported by affidavit, it is clearly established that the complainants are Consumers under the Consumer Protection Act 2019(An Act to promote, protect and enforce the rights of the consumers) and there is deficiency of service on the part of the Opposite Parties according to the Consumer Protection Act 2019.

         Thus both the points are decided in favour of the complainants.

Hence, it is

O R D E R E D

That CC/46 of 2021 be and the same is allowed ex parte against the OPs.

          The Opposite Parties, who are jointly and severally liable, are hereby directed to pay a sum of Rs. 30,000/- to the complainants within one month from the date of this order along with interest @ 10% p.a. from the date of deposit till full realization of the awarded amount with further Rs. 1000/- as litigation cost, failing which the complainants will be at liberty to put this order into execution.

 Let copy of the judgment be supplied to all the parties free of cost.