DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR
Complaint No. 521
Instituted on: 01.09.2016
Decided on: 07.02.2017
Gurdeep Kaur aged about 64 years wife of Nirmal Singh, R/O House No.585, Mehal Mubarak Colony, Sangrur, Tehsil and District Sangrur.
…. Complainant.
Versus
1. The National Co-op Nat Credit Society Limited, 1st Floor, Near Muthoot Finance, Roxy Road, Outside 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/DGM Operation.
3. The National Co-op Nat Credit Society Limited, Corporate Office, 1st Floor, Opposite Sunny Enclave, Above HDFC Bank, Kharar-Chandigarh Road, Mohali 140 301 through its Executive Director/Authorized Signatory.
….Opposite parties.
FOR THE COMPLAINANT: Shri Mahesh Satija, Advocate
FOR OPP. PARTIES : Shri Parul Chawla, Advocate
Quorum
Sukhpal Singh Gill, President
Sarita Garg, Member
Vinod Kumar Gulati, Member
ORDER:
Sukhpal Singh Gill, President
1. Smt. Gurdeep Kaur, complainant (referred to as complainant in short) 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.1,00,000/- in single time installment with OP no.1 vide registration number MS0051500012 for the period of three years on 09.02.2015 which was to be matured on 08.02.2018. Under the scheme, the OPs had agreed to pay an amount of Rs.1000/- per month as interest on monthly basis and an amount of Rs.1,00,000/- at the time of maturity. The complainant received interest (monthly income) @ Rs.1000/- per month from 09.02.2015 to 09.12.2015 and thereafter the Ops did not pay any interest on the amount. 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 the amount and the 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.1,00,000/- as invested/ deposited along with interest @18% per annum and interest ( monthly income) @ Rs.1000/- per month from 05.03.2015 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 08.02.2018 and it is matter of record that the complainant has submitted the documents. 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, the OPs have tendered affidavit Ex.Ops/1 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.1,00,000/- in single time installment for three years under Monthly Income Scheme with OP no.1 vide registration number MS0051500012 on 09.02.2015, which was to be matured on 08.02.2018 which is evident from deposit confirmation receipt. On the other hand, the 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 08.02.2018 and she could have filed the complaint only thereafter, however the present complaint is premature being filed on 01.09.2016. The complainant has also produced on record letter of demand of payment dated 10.06.2016 Ex.C-3 wherein the complainant has demanded only the amount under MS scheme 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) @Rs.1000/- per month from 10.12.2015 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.1,00,000/- 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.
Pronounced.
February 7, 2017.
(Sukhpal Singh Gill)
President
(Sarita Garg)
Member
(Vinod Kumar Gulati)
Member
