Hon’ble Mr. Sudip Niyogi, President

The case of the Complainant in short is that he had purchased 41 Fixed Deposit Certificates (Sahara H. Shine & Super B.B) from OP No.1 amounting to Rs.7,92,000/- for different  period of time.  On maturity of the said Fixed Deposits, the Complainant approached OP No.1 several times personally for disbursement of maturity value but OP No. 1 did not pay any heed to his request.  Lastly, the Complainant filed written complaint before the OPs on 23.11.20 and 25.11.20 but all his efforts were in vain.  Ultimately, the Complainant had to file this case before this Commission praying for several relief (s) as prayed for in the petition of complaint.

The Ops did not contest the case.  As a result, the case was heard ex-parte.  We have gone through the evidence on record and also the submissions made on behalf of the Complainant.  The Complainant is found to have purchased Fixed Deposit Certificates from OP No.1 on different denomination on different dates, which were matured on their respective dates of maturity but, according to the Complainant, the payment towards the maturity value of the said certificates was not disbursed to him.  As a result, this case was filed before this Commission.

This case is also found to be maintainable before this Commission.  Therefore, considering all these, the instant case should be allowed. 

The Complainant is, therefore, entitled to Rs.9,49,632/- as the maturity value of the said Fixed Deposit Certificates.  The Complainant is also entitled to interest @ 6% per annum from the date of maturity of the respective certificate till this date.  This apart, Complainant is also entitled to Rs.5,000/- for harassment, mental pain and agony and Rs.2,000/- for litigation cost.

Hence, it is,

Ordered

That the instant case be and the same is allowed ex-parte. 

The Ops are, therefore, directed to pay Rs.9,49,632/- as the maturity value of the said Fixed Deposit Certificates, alongwith interest @ 6% per annum from the date of maturity of the respective certificate till this date, to the Complainant within 45 days of this order, failing which the Ops are liable to pay the said amount with interest @ 8% per annum till realization.

The Ops are also directed to pay Rs.5,000/- for harassment, mental pain and agony and Rs.2,000/- for litigation cost to the Complainant.

Let plain copy of this order be supplied to the parties concerned by hand/by post forthwith, free of cost for information and necessary action, if any.

The copy of the Final Order is also available in the official Website www.confonet.nic.in.

Dictated and corrected by me.