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Balbir Kaur filed a consumer case on 18 Jan 2017 against The National Co-op Nat Credit Society Limited in the Sangrur Consumer Court. The case no is CC/542/2016 and the judgment uploaded on 25 Jan 2017.
DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR
Complaint no. 542
Instituted on: 06.09.2016
Decided on: 18.01.2017
Balbir Kaur aged about 67 years wife of Swarn Singh resident of House No.585, Mehal Mubarak Colony, Sangrur Tehsil and District Sangrur.
…. Complainant.
Versus
1. The National Co-op Nat Credit Society Limited, Ist Floor Near Muthoot Finance Sunami Gate, Sangrur through its Branch Manager Deepak Kumar.
2. The National Co-op Nat Credit Society Limited, Regd. Office 408, 4th floor,E-2 Amrapali Plaza, Amrapali circle Vaishali Nagar, Jaipur through its M.D. Gurpreet Singh Sidhu/GM/D.G.M Operation.
3. The National Co-op Nat Credit Society Limited Corporate Office, Ist Floor, Opposite Sunny Enclave, Above HDFC Bank, Kharar-Chandigarh Road, Mohali 140301 through its Executive Director/Authorized Signatory.
….Opposite parties.
FOR THE COMPLAINANT: Shri M.K.Satija Advocate
FOR THE OPP. PARTIES : Shri Parul Chawla, Advocate
Quorum
Sukhpal Singh Gill, President
Sarita Garg, Member
Vinod Kumar Gulati, Member
ORDER:
Sukhpal Singh Gill, President
1. Balbir Kaur, complainant has preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that she invested an amount of Rs.2,00,000/- in single time installment with OP no.1 vide registration number MS0051400007 on 08.04.2014 which was to be matured on 07.04.2017. Under the scheme , the OPs had agreed to pay an amount of Rs.2000/- per month as interest and an amount of Rs.2,00,000/- at the time of maturity. The complainant received interest (monthly income) @2000/- per month from 08.04.2014 to 08.01.2016. On the request of the OP no.1 on 10.06.2016 the complainant deposited original registration certificate along with application and fulfilled all the formalities for refund of an amount and OPs issued the acknowledgment on 10.06.2016. Thereafter the complainant requested the OPs so many times to release the above said maturity amount but they have been putting off the complainant on one pretext or the other . The OPs did not release the amount till today. Thus, alleging deficiency in service on the part of OPs, the complainant has sought following reliefs:-
i) OPs be directed to make/ release the payment of Rs.2,00,000/- as invested/ deposited along with interest @18% per annum and interest ( monthly income) @2000/- per month from 9.1.2016 to realization of the entire amount and pay the penal interest @18% till realization of the entire amount,
ii) OPs be directed to pay to the complainant a sum of Rs.50000/- as compensation on account of mental agony, harassment,
iii) OPs be directed to pay Rs.50000/- as litigation expenses.
2. In reply filed by the OPs, it is submitted that the policy of the complainant was to mature on 07.04.2017 and the complainant could have filed the complaint against the OPs seven month months before expiry on the date of maturity however the present complaint is premature being filed on 05.09.2016. The complainant's son never visited the office of OP no.1 nor it was assured to the complainant that the payment shall be made in July 2016. The present complaint is baseless because the policy holders were informed that the OPs are facing financial stringency and as soon this problem is controlled the amounts of the policy holder shall be given to them without any delay.
3. The complainant has tendered documents Ex.C-1 to Ex.C-4 and closed evidence. On the other hand, OPs have tendered documents Ex.OP-1, Ex.OP-2 and closed evidence.
4. From the perusal of documents placed on the file and after hearing the arguments of the learned counsel for the parties, we find that she invested an amount of Rs.2,00,000/- in single time installment for three years under Monthly Income Scheme with OP no.1 vide registration number MS 0051400007 on 08.04.2014 which was to be matured on 07.04.2017 which is evident from deposit confirmation receipt Ex.C-3. On the other hand, Ops have not denied the fact of deposit of said amount for a period of three years. It has been stated by the Ops that the policy of the complainant was to mature on 07.04.2017 and he could have filed the complaint seven months before expiry on the date of maturity however the present complaint is premature being filed on 05.09.2016. The complainant has also produced on record letter of demand of payment dated 10.06.2016 Ex.C-2 wherein the complainant has demanded only the amount under SP from the OPs. We feel that it is the duty of the OPs to release the deposited amount as demanded by the complainant but the Ops did not do so. The complainant has also claimed that the OPs be directed to pay the interest ( monthly income) @2000/- per month from 09.01.2016 till realization but surprisingly the complainant has not produced on record any proof/ demand regarding the payment of above said amount nor produced any policy document which could show that the OPs are liable to pay interest ( monthly income) . As such, we feel that the complainant is not entitled to claim the abovesaid relief. The OPs have not produced on record any document/evidence which could show that they have made efforts to make the maturity amount of the complainant.
5. For the reasons recorded above, we feel that the OPs have miserably failed to repay the invested/ deposited amount to the complainant and as such we allow the complaint of the complainant and direct the OPs to make the deposited/ invested amount of Rs.200000/- to the complainant along with interest @9% per annum from the date of maturity of the policy till realization. We further order the OPs to pay to the complainant a sum of Rs.3500/- as compensation on account of mental pain, agony and harassment and also to pay to the complainant a sum of Rs.1500/- as litigation expenses.
6. This order of ours shall be complied with within 30 days from the receipt of copy of the order. Copy of the order be supplied to the parties free of charge. File be consigned to records in due course. Announced
January 18, 2017
( Vinod Kumar Gulati ) ( Sarita Garg) (Sukhpal Singh Gill) Member Member President
BBS/-
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