FINAL ORDER/JUDGEMENT
SHRI SWAPAN KUMAR MAHANTY, PRESIDENT
The facts, as stated in the complaint and emerged from the documents attached with it, are that Sahara Q Gold Mark Ltd. is a Financial Institution. Complainant invested Rs. 1,70,850/- against gold coins weighting about 96.000 gm from the OP on 03.07.2012. OP issued certificate bearing No. 62514700036 to the complainant. The maturity period of gold coins is for 5 years from the date of purchase and it was stipulated in clause 9 of the Gold Bank certificate that the Gold shall deliver to the customer within 30 days from the receipt of request for delivery after expiry of the stipulated tenure and any delay attributable to the customer for not taking delivery shall attract storage charges in as much as immediate after date of maturity. Complainant issued letter on 28.01.2020. Despite that the OP remained mum and did not make any effort to comply with this stipulation of the Gold Coin Certificate or Gold quantity weighting of 96.000 gm (22 karat) despite several representations of different dates. Having no other alternative, the complainant issued legal notice dated 24.03.2021 to the OP. Despite legal notice the OP did not comply and/or reply the same. Complainant further alleges that there is gross deficiency in service and unfair trade practice on the part of the OP.
In view of the gross deficiency in service and unfair trade practices of the OP, complainant has filed the instant consumer complaint seeking payment of matured amount along with compensation and litigation cost.
Despite service of notice, the OP did not turn up to contest the case by filing WV. Thus, the case runs ex parte against the OP.
Complainant has filed her evidence supporting the allegations made in the complaint petition. Complainant has also filed various documents in support of her case. Despite several opportunities, OP did not file their WV.
We have considered the argument of the Ld. Advocate for the complainant and examined the record.
It is not in dispute that the complainant invested Rs. 1,70,850/- to the OP against certificate bearing No. 62514700036 dated 03.07.2012 and such amount was for purchase of Gold weighting 96.000 gm (22 karat). The investment is for 05 years. On expiry of 05 years, the OP did not deliver gold weighting 96.000 gm to the complainant. Even, they bothered to reply the legal notice dated 24.03.2021 of the complainant.
OP is fully aware that they are liable to refund redeem gold coins weighting about 96.000 gm (22 karat) or its value of Rs. 4,41,600/-. Despite expiry period of five years, the OP violated clause 09 of terms and conditions of the certificate. Complainant invested her hard earned money with the OP. The OP is deliberate to make illegal gains and to deprive the complainant from her lawful right. In fact, the OP withhold the gold coin which no doubt deceitful manner of trade.
OP has not filed their WV denying the allegations made in the complaint petition. Complainant in her affidavit did support the allegations made out in the complaint. Therefore, it cannot be said that complainant has failed to prove deficiency in service and unfair trade practice of the OP. The act of the OP is a clear case of deception, which resulted in the injury and loss of opportunity to the complainant. Had the complainant not invested her money to the OP, she would have invested the same elsewhere. Complainant cannot be wait indefinitely to get the gold coin weighting 96.000 gm (22 karat). Complainant has suffered mental agony and harassment. It is settled principal of law that the compensation should be commensurate with loss of suffered and it should be just, fair and reasonable and not arbitrary. In these circumstances, the complainant is entitled to refund weighting 96.000 gm (22 karat) of gold and/or its maturity value of Rs. 4,41,600/- from Sahara Q Gold Mart Ltd. along with compensation and litigation cost.
Based on the discussion above, the Consumer Case is allowed in part ex parte against the OP with the following directions :-
- OP is directed to pay Rs. 4,41,600/- (Rupees four lacs forty one thousand six hundred) only being the value of gold coins weighting 96.000 gm (22 karat) to the complainant.
- OP is further directed to pay Rs. 10,000/- (Rupees ten thousand) only as compensation to the complainant on account of mental agony and physical harassment.
- OP is also directed to pay Rs. 5,000/- (Rupees five thousand) only towards litigation cost to the complainant.
The above directions be complied by the OP within a period of 90 days from today. For failure or omission in compliance within the stipulated period, the complainant shall be at liberty to put the order in execution as per CP Act.
Copy of the judgment be supplied to the parties as per rules. Upload the judgment on the website of this Commission for perusal of the parties.
