West Bengal

Dakshin Dinajpur

CC/100/2022

Smt. Anju Rani Laha, W/O- Late Debabrata Laha - Complainant(s)

Versus

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

Debashis Barman

29 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 05.04.2010, husband of the complainant opened a recurring deposit policy under the Sahara S.Bhavishya scheme vide account No. 60383500694. The term of the policy was 180 months and the mode of monthly premium of the policy was Rs. 5000/- (Rupees five thousand) only. The date of maturity of the aforesaid recurring deposit was 05.04.2025.

           After the commencement of the aforesaid policy the complainant’s husband used to deposit his monthly premium regularly which was duly acknowledge by the office in the pass book. The complainant’s husband has deposited 72 installments of Rs. 5000/- per month i.e. Rs. 3,60,000 /- (rupees three lakh sixty thousand) only to the O.P. under the scheme of “ Sahara S Bhavishya” .

           After completion of deposition of 72 installments the complainant’s husband stops depositing the monthly premium. It is to be mentioned that the husband of the complainant took a loan of Rs 56000/- (rupees fifty six thousand) only out of his total deposited amount from the O.P. on 07.04.20214, vide Loan A/c no.FLTC11054048.

           That unfortunately on 18.10.2020 the husband of the complainant namely Debabrata Laha died due to illness.

 Thereafter the present complainant being a nominee of the aforesaid RD Account as well as the wife of the policy holder placed an application on 11.12.2020 before the O.P. to withdraw the deposited money for her financial crisis. The complainant went to the office of Sahara and asked them about the process of withdrawing 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. for getting the maturity amount of the aforesaid RD policy. In every occasion O.P. took a new plea and till today the O.P. did not pay the maturity amount or the deposited money.

  Finding no other alternatives, the complainant filed this instant case being a nominee  praying for a direction upon the O.P. to pay the principal amount of Rs.304000/-(3,60,000/- -56000/-) after deduction of the loan amount along with benefits and interest as per Sahara S.Bhavishya Scheme, Rs. 20,000/- as compensation for mental pain and agony and Rs. 20,000/- towards litigation cost.

             The O.P. appeared before this commission and contested the case by filing written version. The O.P. 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.P. 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. craves 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. 60383500694 of Sahara S.Bhavishya scheme issued by Sahara India Pariwar, in the name of  Late Debabrata Laha.
2. Application for the Demand of Death maturity.
3. Xerox copy of the death certificate of Late Debabrata Laha.

Opposite party 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. 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’s husband has deposited total Rs.3,60,000/- to the O.P. in Sahara S.Bhavishya Scheme, vide A/C No.60383500694. 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’s husband has made investment in recurring deposit of Rs. 5000/- per month for 73 installments i.e. total amount of Rs. 3, 60,000/- paid to the O.P. in Sahara S .Bhavishya Scheme. After completion of deposition of 72 installments the complainant’s husband stops depositing the monthly premium. It is to be mentioned that the husband of the complainant took a loan of Rs 56000/- (rupees fifty six thousand) only out of his total deposited amount from the O.P. on 07.04.20214, vide Loan A/c no.FLTC11054048.

             That unfortunately on 18.10.2020 the husband of the complainant namely Debabrata Laha died due to illness.

Then 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 getting the maturity of the aforesaid RD Scheme. But the office did not pay any heed and kept mum in this regard. Then, the complainant submits a prayer for getting the death maturity.

            Thereafter, she in several occasions went to the office of the O.P. for getting the maturity amount but the O.P. did not pay the aforesaid 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 the maturity amount 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 laid 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 the deposited amount after deducting the loan amount and its interest i,e @1.25% per month. The total deposited amount is Rs. 3,60,000/-. The husband of the complainant took a loan of Rs

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

 Therefore, we are of the opinion that the O.P. is 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.

Hence, it is

                                                                         ORDERED

That the consumer complaint case No. 100/2022 is allowed on contest in part with cost against the O.P.

 The opposite parties are directed to pay a sum of Rs. 2,38,900/-( rupees two lakh thirty eight thousand nine hundred) only as principal amount/invested amount.  The opposite party is further directed to pay the interest as per the scheme of Sahara S.Bhavishya.

The O.P. is further directed to pay the interest @ 8 % p.a. on the aforesaid principal amount i.e. of Rs. 2,38,900/-( rupees two lakh thirty eight thousand nine hundred) only from the date of submitting the prayer for getting maturity i,e  11.12.2020 till realization by issuing an account payee cheque in favour of the complainant within 45 days from the date of passing of this order. The O.P. is 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.