Order No.    13   Dated   08/08/2016.

       The case of the complainant in brief is that he is a retired school teacher and he invested a sum of Rs.1,50,000/- in Flexi Potato Purchase Bond issued by o.p. company on 16.7.12 vide policy no.P1110040825. It was promised by o.p. that on the basis of the said investment the complainant will get the double of the amount including principal amount on 25.10.13. As per terms and conditions of the said total final return the amount should have been Rs.1,80,000/- to Rs.3,00,000/-. After the lapse of the stipulated period he demanded the said money but the o.p. company failed to return the said amount. The complainant on 13.7.13 had a sitting with the agents and they promised to return the amount within Oct. 2013. In spite of giving such assurance o.p. did not pay the said amount. The complainant demanded the said amount by sending a letter in speed post and the same was received by o.p. Having receipt of the said notice no action was taken on the part of the o.ps. for which the complainant has prayed for Rs.5,00,000/- as well as compensation and cost.

            Notices were served upon the o.ps. but they did not turn up and as such, the case is proceeding ex parte against the o.ps.

Decision with reasons:

            In order to prove the amount paid to the o.ps. the complainant has filed the original certificate including money receipt wherefrom it is crystal clear that the complainant paid Rs.1,50,000/- to o.ps. and the bond issued by the o.ps. clearly shows that the complainant would get Rs.3,00,000/- after 25.10.13. Though the said date expired but no amount was paid to the complainant for which the complainant filed this case and the complainant also filed other documents in support of his claim and since the o.ps. did not appear a notice was issued in daily newspaper. In spite of issuance of said notice the o.ps. did not turn up. In order to get back the amount and also bringing the o.ps. on record no stone was unturned on behalf of the complainant. But it is curious enough that the o.ps. in order to avoid the payment of the amount has deliberately failed to appear in this case.

            From the materials on record it is evident that the complainant ought to have received Rs.3,00,000/- on 25.10.13 and being retired school teacher he has suffered mental pain and he will be entitled to get damage from the o.ps. Since the amount ought to have been received in the year 2013 and after expiry of so many years the o.ps. will have to pay the principal amount of Rs.5,00,000/- plus Rs.2,00,000/- towards compensation to the complainant and the complainant will also be entitled to get litigation expenses of Rs.10,000/-. Thus the case is disposed of accordingly.

            Hence, it is hereby ordered,

            That the C.C. No.613/2014 is allowed ex parte with cost against the o.ps. and the complainant will be entitled to get Rs.7,00,000/- (Rupees seven lakhs) only from the o.ps. and Rs.10,000/- (Rupees ten thousand) only as litigation expenses. The O.ps. are directed to pay the said amount within 30 days from this date, failing which the complainant will be entitled to get interest @ 8% per annum till the realization of the said amount.

            Supply certified copy of this order to the parties free of cost.