West Bengal

Dakshin Dinajpur

CC/7/2023

Mr. Arup Kumar Laha S/o Late Arun Kumar Laha - Complainant(s)

Versus

The Sector Manager, Sahara India Pariwar, Balurghat Sector - Opp.Party(s)

Debashis Barman

27 Sep 2023

ORDER

           The brief facts of the complainant case is that the complainant is an investor of Sahara India Pariwar under Balurghat Sector of Dakshin Dinajpur. On 13.12.2011 he opened a recurring deposit policy under the Sahara S.Bhavishya scheme vide account No. 60383701669. The term of the policy was 180 months and the mode of premium of the policy was monthly Rs. 1300/- (Rupees thirteen hundred) only. The date of maturity of the aforesaid recurring deposit was 13.12.2026.

            After the commencement of the aforesaid policy, the complainant used to deposit his monthly premium regularly which was duly acknowledge by the office in the pass book. The complainant has deposited 33 installments of Rs. 1300/- per month i.e. Rs. 42,900 /- (rupees forty two thousand nine hundred) only to the O.P. no. 1 under the scheme of  “ Sahara S Bhavishya” .

            After completion of deposition of 33 installments the complainant intends to withdraw the deposited money for his financial crisis. The complainant went to the office of Sahara and asked them about the process of pre stage maturity of the aforesaid RD Scheme. But the office did not pay any heed and kept mum in this regard.

Thereafter in different occasions the complainant went to the office of the O.P. no.1 for getting the pre-maturity amount of his RD policy. In every occasions O.P. no.1 took a new plea and till today the O.P.s did not pay the pre- maturity amount or the deposited money. Then the complainant sent his prayer for getting his pre maturity amount to O.P.no.1 through registered post vide postal receipt No. EW063050785IN on 06.12.2022.

 Finding no other alternatives, the complainant filed this instant case praying for a direction upon the O.P.s to pay the principal amount of Rs. 42,900/- along with benefits and interest as per Sahara S.Bhavishya Scheme, Rs. 10,000/- as compensation for mental pain and agony and Rs. 10,000/- towards litigation cost.

             The O.P.s appeared before this commission and contested the case by filing written version. The O.P.s claimed the averments made in the complaint are false and said that the case is not maintainable. It has been further stated by the O.Ps that due to some litigation pending with SEBI, the Hon’ble Apex Court imposed embargo on the movable and the immovable properties of Sahara groups of companies and the O.P.s crave leave of this commission and prays for dismissal of the instant case.

              In this case, the complainant has filed examination-in-chief by way of affidavit along with some documents by way of firisti.

1. One RD policy (passbook), vide A/C No. 60383701669 of Sahara S.Bhavishya scheme issued by Sahara India Pariwar, in the name of Arup Kumar Laha.
2. Postal receipt EW063050785IN dated 06.12.2022 along with a prayer for withdrawal of the pre maturity amount.
3. Xerox copy of aadhaar card.

Opposite parties also filed examination-in-chief of O.P.W-1 by way of affidavit, no documents were filed.

                                                    Points for discussion

1. Whether the complainant is a consumer as per provision U/S 2 (7) of the C.P. Act, 2019?
2. Whether there is any deficiency in service on the part of O.P.s as alleged?
3. Whether the complainant is entitled to get any relief/ reliefs as prayed for?

                                                    Decision with Reasons

    Point 1 

          This is an admitted fact by both the parties that the complainant has deposited total Rs. 42,900/- to the O.P.s in Sahara S.Bhavishya Scheme, vide A/C No.60383701669. So, there is no hesitation to hold that the complainant is a consumer within the meaning of the provision U/S 2 (7) of C.P. Act, 2019.

Point No. 2 & 3

          These two points are taken up together as they are interlinked with each other. This is an admitted fact that the complainant has made investment in recurring deposit of Rs. 1300/- per month for 33 installments i.e. total amount of Rs. 42,900/- paid to the O.P.no.1 in Sahara S .Bhavishya Scheme. After completion of deposition of 33 installments the complainant intends to withdraw the deposited money for her financial crisis. The complainant went to the office of Sahara and asked them about the process of pre stage maturity of the aforesaid RD Scheme. But the office did not pay any heed and kept mum in this regard. Then, the complainant sent his prayer through registered post on 06.12.2022.

      Thereafter, he in several occasions went to the office of the O.P. no.1 for getting the pre- maturity amount but the O.P.no.1 did not pay the aforesaid pre-maturity amount till date.

      We have gone through the complaint, the written version, evidence of both the parties and documents filed on behalf of the complainant. We have also considered all the documents along with the submission canvassed on behalf of the parties.

      It is cleared that the complainant is entitled to get Rs. 42,900/- with interest and other benefits as per terms and conditions of the Sahara S. Bhavishya Scheme. O.P.s claimed that the complainant did not purchase any goods or articles although he has deposited as advance for purchasing goods, so he is not entitled to get any remedy in this case which has been mentioned in the written version of the O.P.s i,e  Para no.15& 16.

         But, after scrutiny of the terms and condition stated in the RD passbook we do not find any such condition lay down in the passbook of Sahara S. Bhavishya Scheme. Moreover, the complainant is entitled to get the maturity amount as per the terms and conditions of the Sahara S. Bhavishya Scheme which is described in the pass book Sl. No. 5 (iii) maturity/pre stage maturity payment of irregular accounts.” And it is also mentioned that the O.P. Company will charge liquidated damages on these irregular account of non receipt of deposit installments in time and the resultant loss of invest opportunity, etc. The liquidated damages would be deducted from or adjusted against the interest amount payable to the member Account Holder. No deduction of any kind shall be made from the principal amount deposited by the member account holder.

       “It is clear that the complainant is entitled to get Rs. 42,900/-(rupees forty two thousand nine hundred) only with interest and other benefits as per the terms and conditions of Sahara S. Bhavishya Scheme.”

         The complainant is a bona-fide consumer of the O.P.s.  From the facts and circumstances of the case, we find that the O.P.s has violated the terms and conditions as laid down in Sahara S. Bhavishya Scheme.”

       Therefore, we are of the opinion that the O.P.s are liable for deficiency in service in not returning the sum invested by the complainant with accrued interest as agreed upon by and between the parties.

   All the points are thus decided in favour of the complainant against the O.P.s

Hence, it is

                                                                  ORDERED

       That the consumer complaint case No.7/2023 is allowed on contest in part with cost against the O.P.s

       The opposite parties are directed to pay a sum of Rs. 42,900/-(rupees forty two thousand nine hundred) only as principal amount/invested amount.  The opposite parties are further directed to pay the interest as per the scheme of Sahara S.Bhavishya after deducting the charge of liquidated damages.

       The O.P.s are further directed to pay the interest @ 8 % p.a. on the aforesaid principal amount i.e. Rs. 42,900 /-from the date of filing the prayer for pre–maturity i,e  06.12.2022 till realization by issuing an account payee cheque in favour of the complainant within 45 days from the date of passing this order. The O.P.s are further directed to pay Rs. 5000/- towards compensation for harassment and Rs. 5000/- as litigation cost in default complainant is at liberty to execute the order as per law.

    Let a plain copy of this order be furnished to the parties forthwith free of cost.