FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Humara India Credit Cooperation Society Ltd. is a Financial Institution. Complainant invested Rs. 26,778/- to the OP-1 on 26.08.2016. OP-1 issued certificate bearing No. 605001642249 to the complainant. The maturity date of the certificate is 26.08.2019 and maturity value of the certificate is Rs. 41,131/-. Complainant issued letter dated 20.07.2020 requesting the OPs to refund the matured amount. Despite maturity, the OPs did not refund the matured amount. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OPs.
In view of the gross deficiency in service and unfair trade practices of the OPs, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
OP contested the case by filing WV denying the allegations made out in the complaint petition. The specific case of the OP is that despite several request complainant failed to produce original certificate and KYC for internal process of disbursement of matured amount. There is no unfair trade practice on the part of the OP. complainant is not a Consumer under the definition of Consumer Protection Act and the relation between the parties is debtor and creditor. Accordingly, the OP has prayed for dismissal of the complaint.
Complainant has filed his evidence supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of his case. Despite several opportunities, the OPs failed to file their WV.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 26,778/- to the OPs against certificate bearing Nos. 605001642249 dated 26.08.2016. The maturity date of the said certificate is 26.08.2019. Despite several request and letter dated 20.07.2020, OPs did not pay the matured amount to the complainant. OPs are fully aware that they are liable to pay the matured amount to the complainant on its maturity. Complainant invested his hard earned money with the OPs. The OPs are deliberate to make illegal gains and to deprive the complainant from his lawful right. In fact, the OPs withhold the maturity amount which no doubt deceitful manner of trade.
OPs have not filed their WV denying the allegations made in the complaint petition. Complainant in his affidavit did support the allegations made out in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OPs. The act of the OPs is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested his money to the OPs, he would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of Humara Golden VM certificate along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed in part ex parte against the OPs with the following directions :-
- OPs are directed to pay matured amount of Rs. 41,131/- (Rupees forty one thousand one hundred thirty one) only to the complainant.
- OPs are further directed to pay Rs. 2,000/- (Rupees two thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OPs are also directed to pay Rs. 1,000/- (Rupees one thousand) only towards litigation cost to the complainant.
The above directions be complied by the OPs within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
Copy of the judgment be supplied to the parties as per rules. Upload the judgment on the website of this Commission for perusal of the parties.
