FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Humara India Credit Cooperative Society Ltd. is a Financial Institution. OP is the Secretary of Humara India Credit Cooperative Society Ltd. Complainant invested Rs. 1,39,000/- to the OP on 11.06.2016 for a period of 36 months. OP issued certificates bearing Nos. 605001599708 to 605001599717 to the complainant. The maturity date of those certificates is 11.06.2019 and the maturity value of those certificates is Rs. 2,13,504/-. Despite repeated request, the OP did not refund the matured amount. Notice dated 19.10.2020 was issued to the OP but no fruitful result is forthcoming. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OP.
In view of the gross deficiency in service and unfair trade practices of the OP, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
OP contested the case by filing WV denying the allegation of the complainant. The specific case of the OP is that despite several request the complainant did not produce original certificates and KYC documents for internal process for disbursement of matured amount. The complainant is not a consumer as defined under the CP Act, 2019. The complainant should redress his grievance in the Civil Court and DCDRC has no jurisdiction to entertain the complaint. Thus, the complaint is liable to be dismissed.
Complainant has filed his E/chief supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of his case. Despite given opportunities the OP failed to file their E/chief.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 1,39,000/- to the OP against certificate Nos. 605001599708 to 605001599717. The maturity date of the certificates is 11.06.2019. Despite several request and notice dated 19.10.2020, OP did not pay the matured amount of Rs. 2,13,504/- to the complainant. OP is fully aware that they are liable to pay the matured amount 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.
OP has not filed their E/chief despite given opportunity to them. Complainant in his affidavit did support the allegation regarding investment of Rs. 1,39,000/- to the OP. There is no contrary evidence of the OP. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OP. The act 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 to the OP, he would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the matured amount. Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. In these circumstances, the complainant is entitled to get the maturity amount of Rs. 2,13,504/- from Humara India Credit Cooperative Society Ltd (F36 Golden VM) along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed in part on contest against the OP with the following directions :-
- OP is directed to pay matured amount of Rs. 2,13,504/-. (Rupees two lacs thirteen thousand five hundred four) only to the complainant.
- OP is further directed to pay Rs. 20,000/- (Rupees twenty thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OP is also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OP within a period of 90 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 CP Act.
Copy of the judgment be supplied to the parties free of cost as per CP Act. Upload the judgment on the website of this Commission for perusal of the parties.
