Debasis Bhattacharya:- Presiding Member

                    Having been deceived by the opposite parties as mentioned above, in the matter of investment of certain amounts and corresponding return of maturity amounts, the instant case has been filed by the complainant, u/s 35 of the Consumer Protection Act 2019.

The backdrop of the case in a nutshell is as follows.

On different dates, during the period from 10.08.2018 to 10.08.2020, the complainant invested Rs.10,000/- each against two account nos. under a particular investment scheme with the opposite parties, which appear to be a private investment company having Regional office in Kolkata and zonal office in Rishra Hooghly. Thus, both the OPs belong to the same organization. The total investment thus made, amounted to Rs.20,000/- the maturity amount of which was supposed to be Rs.25,088/-.

However, on maturity of the said term deposits the Complainant repeatedly approached to the OP to get back the maturity proceeds. But the same yielded no result. However, all the persuasions were left unheeded by all the wings of the said private investment company.

The complainants claim to have visited several offices of the opposite parties frantically to get back the maturity amount but the same were futile exercises.

Eventually, the complainants sent a legal notice to the opposite parties on 29.01.22 in this regard which also was cared a fig by the opposite parties.

Now the complainants approaches to this forum with a prayer for passing directions to the opposite parties to pay the maturity proceeds of the invested amounts with interest, Rs.50,000/- for mental pain and agony and appropriate litigation cost.

At the very outset, it should be pointed out that in view of the above discussion and on examination of available records it transpires that the complainant is a consumer as far as the provisions laid down under Section 2(7) of the Consumer Protection Act 2019 are concerned.

The complainants and one wing of the opposite party are resident/having their office address within the district of Hooghly and the claim preferred by the complainant does not exceed the limit of Rs.50,00,000/- .Thus, this Commission has territorial as well as pecuniary jurisdiction to proceed in the instant case.

Materials on records are perused.

In spite of proper service of notices, and newspaper publication where it was necessary, none of the opposition parties made their appearance before this Commission even on a single occasion. Thus the case finally ran ex parte against all the opposite parties. The case was fixed for ex parte argument on 18.04.2023.                                              

 The complainant was found ready and evidence on affidavit, corresponding supporting documents and brief notes of argument were filed by them. Argument was heard in full ex parte.                   

The complainant in support of the allegation leveled against the opposite parties, has submitted certain documents viz. photocopies of 1) investment certificates, 2) evidence of service of notices and 3) copy of newspaper publication and 4) copy of the legal notice sent to the opposite parties.                              

On careful examination of all the aspects of the case, this Commission is of the view that there was deficiency of service and grossly unfair trade practice which is as good as cheating.  

Hence it is

                                        ORDERED

that the complaint case no. 55/2022 be and the same is allowed ex parte  but in part.

The opposite parties will be jointly liable to pay the complainant, the entire maturity proceeds of the investments of Rs. 20,000/- which actually amounts to Rs.25,088/-, with interest @9% from the respective dates of maturity. Besides, the opposite parties will also pay Rs. 50,000/- to the complainants as compensation for mental agony and harassment and Rs.5,000/- towards litigation cost within forty five days from the date of this order.         

In the event of failure to comply with this order the opposite party no.1 will pay cost of Rs. 10,000/- by depositing the same in the Consumer Legal Aid account. The complainant also will be at liberty to take legal action for execution of this order.

Let a plain copy of this order be supplied free of cost to the parties/their Ld. Advocates/Agents on record by hand under proper acknowledgement/sent by ordinary post for information and necessary action.

The final order will be available in the website www.confonet.nic.in