West Bengal

Dakshin Dinajpur

CC/9/2023

Smt. Tanusree Laha, W/O- Arup Kumar Laha - Complainant(s)

Versus

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

Debashis Barman

17 Aug 2023

ORDER

The brief fact of the complaint case is that the complainant is an investor of Sahara India Pariwar under Balurghat Sector as well as Kamarpara Branch, Dakshin Dinajpur. The complainant invested the total amount of Rs.2,77,000/- (Two Lakh seventy seven thousand) only in three installments (Rs.187,000/-+ Rs.40,000/- + Rs.50,000/-) in three FD certificates under the scheme of “GOLDEN -E- BASERA” of Humara India Credit Co-Operative Society Ltd. on 07.07.2020, 15.01.2019 & 29.03.2019  for a period of 60 months against which the opposite parties issued three certificates vide Nos.697000517102, 697000033722 & 697000033725 and the maturity date of the above investment was on 07.07.2025, 15.01.2024 &29.03.2024 and the maturity amount was Rs.2,77,000/- (Two Lakh seventy seven thousand) only along with interest of Rs.1714/-, Rs.366/- & Rs. 458/-  per month. After commencement of the said policy, the complainant never gets or received her monthly interest of Rs.1714/-, Rs.366/- Rs. 458/- till to date from the O.Ps.  Due to her bad pecuniary condition she return back her  pre-matured invested amount along with interest as per terms and condition of the said policy. The complainant went to the office of the O.Ps. several times and submits his prayer for withdrawal of the pre-matured invested amount along with interest as per terms and condition of the policy, but the O.Ps. paid nothing. But in every occasion the O.Ps. took a new plea. Lastly on 06.12.2022 the complainant submits his prayer for getting his invested amount along with interest by registry post. Till today the O.Ps. did not pay the invested amount along with interest to the complainant. Finding no other alternatives the complainant files this instant case against the O.Ps. under the Consumer Protection Act 2019 claiming the total invested amount of Rs.2,77,000/- (Two Lakh seventy seven thousand) only along with interest Rs.1714/-, Rs.366/- & Rs. 458/- per-month and benefits as per the terms & conditions laid down in the scheme of “GOLDEN -E- BASERA” compensation of Rs 50,000/- for mental pain & agony and litigation cost of Rs.20,000/-.   

            Notice was issued upon the O.Ps. and the O.Ps. entered appearance and contested the case by filing a written version wherein the material averments made in the complaint are denied and it has been contended inter alia that the instant case is not maintainable. It has been submitted by the O.Ps. that due to some litigation pending with SEBI and the Apex Court regarding the financial transaction of the O.Ps. group imposed embargo on the movable and immovable properties due to which the payment has remained stopped and the O.Ps. crave leave of this Commission and prays for dismissal of the instant case.  

            In this case complainant has submitted examination in chief supported by affidavit together with original copy of following Certificate by firisti given below:-

1.     Certificate No.      : 697000517102

            Account No.         : 603888700506

            Date of Opening   : 07.07.2020

            Principal amount   : Rs. 187,000/-

            Date of maturity     : 07.07.2025

            Pre-Maturity amount: Rs. 178,000/- along with interest of Rs.1714/-
                                                                          per month

            Name of the Scheme : “GOLDEN -E- BASERA”

            Membership No.         : 660388000191

            Tenurre                      : 60 months

            Branch                        : Balurghat.

 

(2)   Certificate No.      : 697000033722

            Account No.         : 41198000012

            Date of Opening   : 15.01.2019

            Principal amount   : Rs. 40,000/-

            Date of maturity     : 15.01.2024

            Maturity amount  : Rs. 40,000/- along with interest of Rs.366/- per month
                                                                 and value of 543 joining points

            Name of the Scheme : “GOLDEN -E- BASERA”

            Membership No.         : 641199000010

            Tenurre                      : 60 months

             Branch                      : Kamarpara

(3) Certificate No.      : 697000033725

            Account No.         : 41198000081

            Date of Opening   : 29.03.2019

            Principal amount   : Rs. 50,000/-

            Date of maturity     : 29.03.2024

            Maturity amount  : Rs. 50,000/- along with interest of Rs.458/- per month
                                                                and value of 722 joining points

            Name of the Scheme : “GOLDEN -E- BASERA”

            Membership No.         : 641199000010

            Tenurre                      : 60 months

             Branch                      : Kamarpara

(4) Postal receipt vide No.RW903786767IN dt.12.09.2022.

 

           O.P. has also submitted examination in chief by way of affidavit but no document is submitted on the side of the O.P.     

                                 Points for discussion:

 

1. Is the complainant a consumer to the opposite parties?
2. Is there any deficiency in service on the part of the opposite parties?
3. Is the complainant entitled to get any relief/reliefs as prayed for?

 

                                                   DECISION  WITH  REASONS

 

Point No.1:

This is admitted that complainant invested a sum of Rs.2,77,000/- (Two Lakh seventy seven thousand) only in three installments (Rs.187,000/-+ Rs.40,000/- + Rs.50,000/-) in three FD certificates under the scheme of “GOLDEN -E- BASERA” of Humara India Credit Co-Operative Society Ltd. on 07.07.2020, 15.01.2019 & 29.03.2019  of the opposite parties, So, there is no hesitation to hold that the complainant is a consumer within the meaning under the Consumer Protection Act, 2019.

 

 Point No.2 & 3:

These two issues are taken up together for discussion for the sake of convenience and brevity. This is admitted fact that the complainant had invested a sum of Rs.2,77,000/- (Two Lakh seventy seven thousand) only in three installments (Rs.187,000/-+ Rs.40,000/- + Rs.50,000/-) in three FD certificates under the scheme of “GOLDEN -E- BASERA” of Humara India Credit Co-Operative Society Ltd. on 07.07.2020, 15.01.2019 & 29.03.2019   for a period of 60 months against which the opposite party duly issued three certificates to the complainant. This is also admitted fact that the pre-maturity amount of Rs.2,77,000/- (Two Lakh seventy seven thousand) only along with interest of Rs.1714/-, Rs.366/- & Rs. 458/- per month.  The maturity period of 60 months is not over on 07.07.2025, 15.01.2024 &29.03.2024. Due to her bad pecuniary condition she return back her pre-matured invested amount along with interest as per terms and condition of the said policy. This is also not disputed that the complainant has not yet received the monthly interest of Rs.1714/- from April, 2021, Rs.366/- from August, 2022, & Rs. 458/- from August, 2022 to till date from the  O.Ps. against the aforesaid investments.  

We have looked into the complaint, the written version of the O.Ps. and evidence filed by the parties minutely. All these reveal that the complainant is a bona-fide consumer of the O.Ps. and she is entitled to get invested principal amount of Rs.2,77,000/- (Two Lakh seventy seven thousand) only along with monthly interest of (Rs.1714/- x 24 month =Rs.46278, Rs.366/- x 12 month =Rs.4,392 & Rs. 458/- x 12 month =Rs.5496 ) total  Rs. 56,166/- together with interest as per terms and condition of the aforesaid scheme but the O.Ps. have violated the terms and conditions and there is no denial of the fact about lack of responsibility in discharging his duty on the party of the O.Ps. and their lies deficiency in service on the party of the O.Ps.

Accordingly all the points are decided in favour of the complainant against the O.Ps. Thus all the points are disposed of.

 Hence, it is

                                                                            O R D E R E D

             That the Consumer complaint Case No.09/2023 is allowed on contest in part with cost against the O.Ps. The Opposite parties is directed to pay invested principal amount of  Rs.2,77,000/- (Two Lakh seventy seven thousand) only and total monthly interest Rs.56,166/- (Rs.2,77,000/- + Rs.56,166/-) = Rs3,33,166/- (Three Lakh thirty three thousand one hundred sixty six only) together with interest @ 8% p.a 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. is further directed to pay a sum of Rs.5,000/- (Five thousand) for compensation  and to pay Rs.3,000/- (three thousand) towards litigation cost in default complainant has liberty to execute the order as per law.  

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