Order No.  14  dt.  15/03/2017

       The case of the complainant in brief is that the complainant purchased a fixed deposit certificate for Rs.1,00,000/- vide account no.0776754 with o.p. company on 31.12.12 and it was stated in the said certificate that the complainant would get interest @ 12.5% per annum. The terms of the said fixed deposit was 66 months with the maturity value and interest to be paid monthly @ 12.5% per annum. The complainant requested the o.ps. for payment of the matured amount at the earliest. The o.ps. published an advertisement in daily newspaper ‘Bartaman’ stating that they would pay the amount by Jan.2014 but no such payment was made. The complainant being frustrated to get back the amount filed this case praying for the principal amount plus interest and compensation and cost etc.

            In spite of receipt of notices o.ps. did not contest this case by filing w/v and as such, the case has proceed ex parte against them.

            The complainant in order to prove the case filed the documents including the photocopy of the certificate wherefrom it appears that the complainant invested an amount of Rs.1,00,000/- and the rate of interest was decided @ 12.5% per annum. Since the complainant demanded the money like other depositors the o.ps. published an advertisement in daily newspaper ‘Bartaman’ stating that they would pay the amount by Jan.2014 but not such payment was made. In order to prove the said fact the complainant filed the various documents and the complainant filed an evidence on affidavit. Since there is no contrary evidence against the evidence of the complainant therefore we hold that the complainant will be entitled to get the relief as prayed for.

            Hence, ordered,

            That the CC No.687/2014 is allowed ex parte with cost against the o.ps. The o.ps. are jointly and/or severally directed to pay a sum of Rs.1,00,000/- (Rupees one lakh) only to the complainant along with compensation of Rs.20,000/- (Rupees twenty thousand) only for harassment and mental agony and litigation cost of Rs.5000/- (Rupees five thousand) only  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.          

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