For Complainant         :           Self

For OP No.1                 :           Sri S. K. Mohanty, Advocate

For OP No.2                 :           None.

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1.                     The brief history of the case of the complainant is that he being insisted by the Agent of Ops 1 & 2, agreed to deposit some amount with the OP.1.  It is submitted that the complainant being influenced by the said Agent of Ops, made four fixed deposits @ Rs.15, 000/- each under Sahara A. Select Scheme on 07.01.2016 vide certificate No.925001956783, 925001956784, 925001956785 & 925001956786  under Membership No.24221600038 which were matured on 07.07.2017 for Rs.17, 700/- each as mentioned in the scheme certificate.  Again the complainant had made recurring deposits under Sahara M. Benefit scheme vide A/c. No.24224800401, Membership No.24221300350 dt.08.02.2013 with denomination of Rs.900/- per month w.e.f. 08.02.2013 for a period of 60 months and thus deposited a sum of Rs.25, 200/- up to 30.05.2015 which is clearly reflected in the Pass Book issued and operated by the Ops.   It is submitted that the complainant requiring money approached the Ops to close the above five accounts since matured and pay the proceeds but to no result.  Thus alleging unfair trade practice on the part of the Ops he filed this case praying the Forum to direct the Ops to pay Rs.70, 800/- and Rs.25, 200/- towards maturity amount under both the schemes and to pay Rs.35, 000/- towards compensation and cost to the complainant.

2.                     The OP No.1 filed counter through its advocate admitting that the complainant made four fixed deposits @ Rs.15, 000/- each under Sahara A. Select Scheme on 07.01.2016 vide certificate No.925001956783, 925001956784, 925001956785 & 925001956786.  Again the complainant had made recurring deposits under Sahara M. Benefit scheme vide A/c. No.24224800401, Membership No.24221300350 dt.08.02.2013 with denomination of Rs.900/- per month w.e.f. 08.02.2013 but contended that at the time of deposit as advanced in favour of the Company, the complainant had entered into a contractual liability with the Ops wherein he has agreed to abide with the terms and conditions of the scheme.  It is further contended that the complainant approached the OP.1 for withdrawal of deposit without producing any document and when he was asked to furnish relevant documents, the complainant refused to furnish the same.  Thus denying any deficiency in service or unfair trade practice on their part, the Ops prayed to dismiss the case of the complainant with costs.

3.                     In spite of valid notice the Op No.2 did not prefer to participate in this proceeding in any manner and thus remained exparte. The complainant has filed certain documents in support of his case.  We have perused the documents on record.

4.                     In this case, deposits under both the scheme as above are all admitted facts.  It is seen from the deposit certificates/pass book available on record that the scheme was matured after five years.  The case of the complainant is that he approached the OP.1 for maturity withdrawal of deposits but the OP.1 without effecting maturity payment is stating that the money is yet to come.

5.                     The OP.1 stated that this Forum has no jurisdiction to try over this case as because the complainant has already entered into arbitration agreement with the Ops under which the dispute between the parties shall be decided by an Arbitrator.  The Op has not filed the copy of agreement in support of his above contention for our perusal.  It has been decided in a number of cases by the higher Forums that even if remedy of arbitration found provided in the agreement between the parties, it would not have barred the Forums under C. P. Act from redressing the cases of the complainant as because, the Act is not derogation of any other law for the time being in force as per Section-3 of C. P. Act.  In view of the above decision, this Forum has got jurisdiction to entertain this case.

6.                     Further it is stated that the complainant has not furnished any document at the time of approach to OPs and when he was asked to furnish documents, he denied.  This submission of the OP.1 does not sound good.  When a depositor approaches OP.1 for withdrawal of his/her deposit, he/she must have some documents with him/her and if any more documents are required, the consumer is to be suitably advised.  Official process for withdrawal is to be promptly taken up but the OP.1 has not taken up the matter in this case.  Non-cooperation of the Ops in effecting payment to the complainant, in our opinion, amounts to deficiency in service.  The complainant is entitled for withdrawal of his money and the Ops are entitled to pay the same with due interest.

7.                     It is seen from the record that the complainant has deposited Rs.25, 200/- matured during February, 2018 and deposit Certificate under F2 Sahara A. Select @ Rs.15, 000/- each matured on 07.07.2017 and he wants to withdraw his money.  Since the scheme is matured, he also can do it.  The Ops are to pay back the deposited amount with due interest as per scheme.  In the peculiar circumstances of the case, we are not inclined to grant any compensation in favour of the complainant except a cost of Rs.2000/-.

8.                     Hence ordered that the complaint petition is allowed in part and the Ops 1 & 2 being jointly and severally liable are directed to refund Rs.25, 200/- under Sahara M. Benefit scheme and to refund Rs.15, 000/- each on four certificates under F2 Sahara A. Select Scheme with as usual rate of interest and benefits under the scheme from the date of deposit till actual payment and to pay Rs.2000/- towards cost to the complainant within 30 days from the date of communication of this order.  If the Ops failed to make payment within the given period, they are to pay Rs.100/- towards compensation per day to the complainant from the date of this order over and above the guaranteed interest under the scheme.

(to dict.)