Order No.  10  dt.  18/09/2017

       The case of the complainant in brief is that the complainant invested a sum of Rs. 3,20,000/- with the o.p. 1 with an assurance that he would get a monthly interest of Rs. 3,200/- per month. The said sum was invested for a period of 3 years effected from 20/04/2015 to 30/03/2018. After receiving the policy certificate the complainant noticed that the said investment was made for the purpose of acquiring a plot/villa/apartment under the o.p. at Punjab and there was no whisper regarding the payment of monthly interest. The complainant used to get Rs. 3,200/- per month from the office of the o.p. but from the end of 2015 the o.p. 1 refused and neglected to pay the monthly interest in favour of the complainant. The complainant on numerous occasions visited the office of the o.p. 1 but no effective step was taken by o.p. 1 to pay the monthly interest or to refund the amount deposited by the complainant. The complainant thereafter realized that she was deceived by the o.p. 1. The complainant being a senior citizen has faced acute financial stringency due to non-availability of the said amount. In view of the said fact the complainant filed this case praying for refund of the amount of Rs. 3,20,000/- and compensation of Rs. 1,00,000/- as well as litigation cost of Rs. 20,000/-.

            The o.p.s did not contest the case in spite of service of notice through daily newspaper published on 23/03/2017 as such the case has proceeded ex-parte against the o.p.s.

            The complainant in order to prove the case filed an Affidavit of evidence wherein she stated that she invested an amount of Rs. 3,20,000/- to the o.p.s with the assurance that she will be provided interest @Rs. 3,200/- per month. The complainant was not provided with the said interest. Ultimately the complainant realized that she was deceived by the o.p. 1. The complainant being a senior citizen has faced acute financial stringency due to non-availability of the said amount. The complainant in order to prove the case filed some documents including the Xerox copy of the certificate which corroborates fact that the o.p.s took the amount from the complainant. The evidence of the complainant has remained unchallenged. Therefore we hold that the case filed by the complainant has got the merit and she will be entitled to get the relief as prayed for.

            Hence, it is ordered,

            that the case no. 309 of 2016 is allowed ex-parte against the o.p.s with cost. The o.p.s are directed to refund the amount of Rs. 3,20,000/- with compensation of Rs. 1,00,000/- and to pay cost of Rs. 10,000/- within 30 days from the date of communication of this order, i.d. an interest @10% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.

            The complainant is directed to submit Xerox copy of PAN card at the time of the certified copy of this order. If the PAN card is provided, this office to inform the Income Tax Department regarding the said order after the payment of the amount by the o.p.s.           

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