Hon’ble Mrs. Rumpa Mandal, Member.

This case arises out of a Complaint u/sec.12 of the Consumer Protection Act, 1986. The case of the Complainant in a nutshell is that Complainant Sri Pijish Kumer Saha has purchased some certificates 6 (six) in number the description of which has been given in the complaint. The said certificates were matured on 22.01.2019 & 01.09.2019.

Subsequently, on maturity, on being approached by the complainant OPs failed to make payment of amount of maturity. Even a written complaint filed by the complainant on 06.03.2020 with the OP No 1&2 did not receive any positive response and finally, he was compelled to file this case praying for reliefs. The OPs appear before this Ld. Commission  through their Ld. Advocate. The OPs contested this case by filing written version denying the allegation of the complainant, However, they have disputes with SEBI and as there is an embargo by Hon’ble Apex Court with respect to the properties of the OPs, they are not in a position to make any payment to the complainant. But Ops did not file any evidence on affidavit and any written argument. They prayed for dismissal of the case. The Ops were absent without taking any steps since long time. They did not turn up before the Ld. Commission to contest the case further.

Points for Consideration

1. Is the instant case is maintainable?

2. Is the Complainant entitled to get any relief?

3. To what other relief if any, complainant is entitled?

Decision with reasons

All the point are taken up together for Consideration. During argument the Ld. Counsel for the OP did not file any written argument and did not argue that case. The OPs in their written version did not raise any dispute about the purchase of certificate by the complainant from them. The said certificate were matured and it is also not disputed. No paper relating to the matter pending with the Hon’ble Apex court has been produced by the OPs.  

Here, the complainant had made investment with the OPs should not be deprived of the returns from his investment. As on maturity of his investment the complainant did not get back his return. He legitimately can claim the matured amount from the OPs. Therefore, the complainant is entitled to the relief as prayed for with this all the issues are disposed of.

Hence, it is

Ordered

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

The O.P.s is directed to pay the amount on maturity which is Rs.5,12,199/- with interest @ 6% from the date of maturity of the certificate.

This apart, OPs are directed to pay Rs.8,000/- for mental pain & agony and Rs.3,000/- for litigation cost.  Both the OPs are jointly and /or severally liable to pay the said amount within 60 days from this date, failing which the entire awarded seen will carry interest @ 6% per annum till actual payment.

Let a plain copy of this order be supplied to the concerned party by hand / by Registered post with A/D forthwith, free of cost for information & necessary action, as per rule.

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

Dictated and corrected by me.