Sanjay Kumar Singh s/o late Lakhan Singh

R/o Kalyani Project, P.O.- Phusro, Dist.- Bokaro.

Vs.

1. Managing Director, Southern Horticulture & Rubber Plantation, (Rubber Plantation Division) Utopia Building, St. Andrew’s Road, Bandra, (West) Mumbai-400050

2. Smt. Rekha Barnwal, agent of Southern Horticulture & Rubber Plantation Lmt. w/o Sri A.K. Barnwal of Qr. No.- D/17/99 TTPS Colony, Lalpania, Dist.- Bokaro.

Present-

S.M. Alam, President

Sri Vijay Bahadur Singh, Member

Shabnam Praveen, Member

Date of Judgment- 30/11/2009

Date of Case filing-09/06/2008

-: Judgment:-

The instant case has been filed by the complainant against the opposite parties for payment of Rs. 72500/- with 18% interest from 18.12.2007 till date of payment, Rs. 50000/- as lawful compensation for mental agony, physical injury and economic loss and Rs. 10000/- as cost of present proceeding.

2 The complainant’s case in brief is that he invested with the opposite party No.1 through opposite party no.2 vide application form no.141743. The investment was made through SBI Bank Draft No. 882035 dated 25.11.97 for Rs. 6980/- and receipt no. 6990 was issued by the opposite party in favour of the complainant. The complainant was issued a certificate of membership vide registration folio no. SHRP006990/97-98 and certificate no. 0008383. The complainant was allotted four numbers of units each of value of Rs. 2500/- subject to the terms and conditions of scheme II in option Bonanza B 10 years on 18.12.97. Under the scheme the complainant had to get Rs. 72500/- as maturity value and therefore, the opposite party no.1 sent a post dated account payee cheque no. 207671 dated 18.12.2007 for Rs. 72500/- of City Bank, Mumbai in favour of the complainant. But when the complainant presented the said cheque for payment in his account in SBI Phusro Bazar Branch, the same was dishonoured by the Banker on account of “account closed”. The matter was taken up by the complainant with the opposite party no.1 but with no result. Hence this case.

3 Upon issuance of the notice, the opposite parties neither appeared nor filed any written statement on their behalf. Heard the complainant. The opposite parties failed to argue the case. While going through the entire case records and documents it is observed that the opposite parties failed to pay the maturity value to the complainant under the scheme of the investment mentioned above. The complainant as such suffered on account of actions of opposite parties enumerated above.

4 In view of the above, we, therefore, hold the opposite parties negligent and deficient in service towards the complainant. The opposite parties are hence held liable to pay relief to the complainant.

5 Under the facts and circumstances of the case, the opposite parties are directed to pay Rs. 72500/- (Rs. Seventy two thousand five hundred) only along with interest thereon @ 9% per annum with effect from 09.06.2008 till payment to the complainant within 30 days from the date of this order. The above opposite parties are also directed to pay Rs. 1000/- (Rs. One thousand) only as compensation to the complainant within 30 days from the date of this order.