FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
This is an application u/s.35 of the Consumer Protection Act, 2019.
Brief facts of the case are that complainant invested Rs. 37,804/- to the OP on 31.05.2016 for a period of 36 months and the OP issued certificate bearing No. 605001599395. The maturity date of the aforesaid certificate is 31.05.2019 and the maturity value of the certificate is Rs. 58,067/-. Complainant vide letter dated 31.10.2020 requested the OP to pay the matured amount within 07 days from the date of receipt thereof but the OP deliberately avoid to pay the matured amount. The act of the OP tantamount to deficiency in service. Hence, the complainant approached the commission by way of consumer complaint seeking payment of matured amount along with compensation and litigation cost.
The complaint is not resisted by the OP and did not come forward to file any Written Version within 30 days from the date of receiving notice. As such, the consumer case has proceeded ex-parte against the OP vide proceedings dated 08.02.2021.
Complainant Mantosh Banerjee filed his affidavit of evidence. He also filed relevant document like photocopy of certificate being No. 605001599395, 605001599395 dated 31.05.2016 and request letter dated 13.10.2020 addressed to the OP to refund the maturity amount of Rs. 58,067/-.
We have heard argument on merit. Perused the evidence of the complainant coupled with materials on record.
Upon perusal of the consumer complaint coupled with evidence of the complainant and photocopy of certificate dated 31.05.2016, we find that the complainant invested Rs. 37,804/- to the OP for a period of 36 months. The maturity date of the certificate is 31.05.2019 and its maturity value is Rs. 58,067/-. We have also gone through the photocopy of letter dated 13.10.2020 of the complainant. The said letter goes to show that on maturity, the complainant requested the OP to pay the matured amount within 07 days from the date of receipt of the said letter. Despite request the OP did not pay the matured amount of the said certificate. The OP is willfully aware that they are liable to pay the matured amount of Golden VM plan to the complainant on its maturity. Complainant invested his hard earned money with the OP. The OP is deliberate to make illegal gains and to deprive the complainant from his lawful right. In fact the OP withhold the maturity amount which no doubt deceitful manner of trade.
It is pertinent to note that despite service of notice of the complaint, OP did not put in appearance nor the OP filed Written Version in response to the complaint. As the OP has failed to controvert the allegations in the complaint by filing Written Version, the allegations in the complaint are deemed to have been admitted as correct. It is well settled that the allegation made in the complaint, if not denied is deemed to be admitted as correct. The complainant in his affidavit did support the allegations in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service.
According to the Consumer Protection Act, it is the benevolent piece of legislation to protect the consumers from exploitation. The spirit of the benevolent legislation cannot be over looked and its object is not to be frustrated. The complainant has invested Rs. 37,804/- the OP against Golden VM plan with the hope to get Rs.58,067/- as maturity amount. The act and conduct of the OP is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested his money with the OP, he would have invested the same elsewhere. The complainant cannot be wait indefinitely to get the matured amount. The complainant has suffered mental agony and harassment. It is settled principle of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. To get relief, the complainant has to wage a long drawn and tedious legal battle. In these circumstances, the complainant is entitled to get the maturity amount of Golden VM plan along with compensation and litigation cost.
On the basis of the above discussion, the consumer complaint is allowed against the OP with the following direction:-
- OP is directed to pay Rs. 58,067/- only to the complainant.
- OP is further directed to pay Rs. 10,000/- as compensation to the complainant on account of mental agony and physical harassment.
- OP is also directed to pay Rs. 5,000/- only towards litigation cost to the complainant.
- The above direction be complied by the OP within a period of 60 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per law.
Copy of the final order be supplied to the parties as per rules and also be uploaded to the website of the Commission forthwith.
