A-110/2018

10-1-2024

O R D E R

BY SRI RAVI SHANKAR, JUDICIAL MEMBER

Heard from both parties.

2. The learned advocate for the appellant submits that, he had invested an amount of Rs.16,889/- on Children Gift Growth Fund by purchasing 1000 units on 16-7-1997, the maturity date is 1-6-2016, whereas the respondent has closed the policy and an amount of Rs.24,254/- was credited by way of cheque on 1-4-2004, the said cheque was realized by this appellant on 7-5-2004, but the prior to paying the said amount, they have not issued any notice to this appellant, thereby they rendered by deficiency in service and filed a complaint before the District Commission. The District Commission without considering the said facts had dismissed the complaint. In fact the maturity value has to be payable on 1-6-2016 whereas the respondent had paid meager amount of Rs.24,254/- before the maturity, due to which the complainant suffered financial loss. Hence, prays to set aside the order passed by the District Commission and allow the complaint and direction be given to the respondent to pay the maturity value as on 1-6-2016 to the complainant with interest.

3. The learned advocate for respondent submits that the amount of Rs.24,254/- was given on 1-4-2004 since the said scheme was closed as per the direction given by the Government of India as the children scheme has to be closed. Obeying the said direction and order, they have paid the above said amount to the appellant, there is no any deficiency in service, hence prays for dismissal of the appeal.  

4. On perusal of the certified copy of the order and memorandum of appeal, it is an admitted fact that, an amount of Rs.24,254/- was received by the appellant on 1.4.2004 through cheque and same was encashed on 7.5.2004. The repayment was made as per the direction and order given by the Government of India. Once the Government of India closes the scheme, this respondent ought to refund the amount to the subscribers/units holders with accrued value of the units and accordingly they have paid. We do not find any deficiency in service on the part of this respondent in returning the said amount to the complainant; the said refund was made only as per the Government direction. The District Commission has rightly dismissed the complaint as there is no deficiency in service, at the same time no valued ground urged before this Commission to set aside the order. As such, the appeal is dismissed and the order passed by the District Commission is confirmed. Accordingly, we proceed to pass the following:  

O R D E R

The appeal is hereby dismissed.  No order as to cost.

The impugned order 18-12-2017 passed by the District Consumer Disputes Redressal Commission, Mangalore in CC.No.309/2016 is confirmed.

Send a copy of this order to both parties as well as concerned District Consumer Commission.

Member                                    Judicial Member