:    J U D G M E N T    :

The brief fact of the case is that the complainant has obtained two savings certificates each of 3 years duration issued by OPs (Vibgyor Group).  The said two certificates have been obtained by the complainant through agent of OP’s company viz., Trinath Barai herein OP 1 in the instant case.  The nature of savings were MIS of Rs. 1,00,000/- w.e.f., 07.03.12 wherein the interest was fixed for Rs. 1125/- per month and another of Rs. 1,00,000/- with quarterly interest of Rs. 3125/- w.e.f., 19.12.12.  The complainant has received 25 instlments of Rs. 1125/- in respect of 1^st certificate and 5 instalments of Rs. 3125/- in respect of 2^nd certificate upto 15.01.2014.  But thereafter, the both payments were totally stopped without giving any prior notice to the complainant.  The complainant requested the OPs to make payment.  But the OPs did not take proper care regarding the said payment to the complainant.  The complainant is entitled to get Rs. 245200/- and also for punitive cost from the Ops.  There is a gross negligence and deficiency in service on the part of Ops.  Hence, the complainant has knocked at the door of the Forum for getting his relief as prayed for. 

            As per order No. 5, dtd.  27.03.2015 the order of exparte has been passed against OP Nos. 2, 3 and 4 as they have failed to appear before the Forum for contesting the said case after getting the notice from the Forum.  Only OP No. 1, agent Trinath Barai appeared before the Forum and filed the written version stating, inter alia, that the complainant paid Rs. 1,00,000/-  through cheque bearing No. 228506 dtd.  06.03.12 for the purpose of MIS savings and also paid Rs. 1,00,000/- through cheque bearing No. 228518 dtd.  18.12.12 for the same purpose.  The complainant has received 25 instalments of Rs. 1125/- in respect of 1^st savings and 5 instalements of Rs. 3125/- in respect of 2^nd certificate.  He has stated that Xerox copy of two cheques were annexed herewith for supporting the case of the complainant.  The OP No. 1 agent also prayed before the Forum that the relief should be given to the complainant as it is fact that OPs company did not make any payment to the complainant. 

Now the Forum is to consider the following:-

1. Whether the complainant is to be treated as consumer or not as per 

Consumer Protection Act 1986.

2. Whether there is any gross negligence or deficiency in service on the 

part of OPs or not,

3. Whether the complainant is entitled to get any relief as prayed for.

DECISION WITH REASONS

Point No. 1:

            At first we have perused the Annexure – 1, the letter of allotment regarding debenture-MIS bearing No. BKLN 7269, dtd.  31.03.12 issued by OPs 2 to 4.  From the said documents it is clear that Shubhatosh Biswas, complainant is sole and first applicant and Alaka Biswas (wife) is figured as nominee.  The application money of Rs. 1,00,000/- for the period of three years wherein the complainant is entitled to get Rs. 1125/- per month as interest from the said debenture – MIS.  It is also clear that the date of redemption was 07.03.2015, i.e., the said MIS was matured on 07.03.2015.

Thereafter, we have also perused Annexure – 2, Fixed deposit receipt bearing No. BKLN 3790 dtd. 11.01.13 issued by OPs 2 to 4.  From the said document it is clear that Shubhatosh Biswas, complainant is also sole and first applicant and Alaka Biswas (wife) is figured as nominee.   The application money is Rs. 100000/-  for the period of 3 years wherein the complainant is entitled to get Rs. 3125.01 quarterly as interest from the FD receipt.  It is also clear that the date of redemption is 19.12.15 i.e., the said FD would be matured on 19.12.15. 

It is fact that the complainant paid Rs. 100000/- to OPs Vibgyor Company vide A/C Payee cheque No. 228506 dtd.  06.03.12 and paid also Rs. 100000/- to OPs company  vide A/C payee cheque No. 228518 dtd. 28.12.12.  These two documents i.e., Xerox copy of two cheques are corroborating the facts of the case.  Not only that the OP No. 1 agent of the said company has supported the complainant but also he (agent) has prayed for payment of genuine claim to the complainant. 

The complainant on several occasions requested the OPs company for payment which is clearly revealed from Annexure – 3, letter dtd.  07.03.12, Annexure – 4, letter dtd. 19.12.12 and Annexure – 5, letter dtd. 13.11.14.  But the OPs 2 to 4 did not take any proper care for making payment to the complainant as there is no supporting documents filed by OPs 2 to 4 in the instant case.

The opportunity has given to the OP No. 2 – 4 for filing written version, but after receiving the notice they have failed to file the same.  From the situation it is clear that OPs No. 2 – 4 has admitted the allegations contained in the petition.  Moreover, the complainant has filed this case alleging the gross negligence and deficiency in service on the part of OPs No. 2  - 4 by way of affidavit which was not challenged by the OPs No. 2 – 4.  So the complaint remains unchallenged which clearly proves the instant case. 

From the detailed analysis we hold that there is a gross negligence and deficiency in service on the part of OPs 2 – 4 and the complainant is entitled to get relief as against OP Nos. 2 – 4 due to non-payment of amount to the complainant.

Now we try to calculate the amount which the complainant is entitled to get.  As per first certificate the complainant is entitled to get total amount of Rs. (36x1125) = Rs.40,500/-.  Complainant admitted that he got 25 instalments, i.e., complainant received (25 x 1125) = Rs. 28,125/-.  So the complainant is entitled to get the rest due interest of Rs. (40500 – 28125/-) =Rs.12,375 as the first certificate has already been matured on 07.03.15.

Regarding second certificate the complainant is entitled to get 10 instalments (quarterly) up to June, 2015 as this certificate will be matured on 19.12.15.   The complainant is at present entitled to get (10 x 3125) = Rs. 31250/-.  The complainant admitted that he received 5 instalments so, the complainant received (5 X 3125) = Rs.15625/-.  So upto June, 2015 the complainant is entitled to get his due interest (31250/- - 15625/-) = Rs. 15625/-.  So from the detailed calculation mentioned above it is clear that the complainant is entitled to get due interest (12375/- + 15625) = Rs. 28000/- + principal amount from the OPs No. 2 – 4. 

OP No. 1 agent has no power to settle the claim amount.  So he has no liability in the instant case.  The point No. 2 & 3 are thus decided as per above observation.  The case is allowed exparte against OPs No. 2 – 4 and dismissed against OP No. 1. 

Hence,

Ordered,

            That the case CC/2014/167 be and the same is allowed exparte against OP No. 2 – 4 with cost of Rs. 2000/- and dismissed on contest against OP No. 1 without cost. 

That the OP Nos. 2, 3 & 4 are hereby directed to cancel the certificate bearing non-cumulative No. BKLN 3790 due to non-payment forthwith and also directed to pay the principal amount of Rs. 2,00,000/- for two certificates along with interest of Rs. 28,000/- + cost of Rs. 2,000/- i.e., total of Rs. 2,30,000/- to the complainant within 30 days from the date of order, in default the interest @ 8% p.a. shall be charged upon the awarded amount till full realization. 

Let the copy of this order be supplied to the parties free of cost.