Date of filing :30.8.2018

Judgment : Dt.30.12.2019

Mrs. Sashi Kala Basu, Hon’ble President

            This complaint is filed by Complainant namely Sri Sankar Shaw under section 12 of C.P.Act, 1986 alleging deficiency in service on the part of the opposite parties namely Sahara Credit Co-operative Ltd and its Branch Manager.

            Complainant’s case in short is that on 25.06.2012 he opened a fixed deposit account being No. (1) 816902005719 to the tune of Rs.23,050/- and (2) on 02.06.2012 also invested a sum of Rs.23,050/- vide Account No.816902005720 with the OP No.1 under the scheme of Sahara Q Shop Unique Products Range Limited, for a period of six years. But, after the expiry of the maturity date, when Complainant requested OP No.1 in June, 2018, to pay the matured amount, OPs failed and neglected to pay the same. Ultimately, a demand notice dt.02.08.2018 was also sent by the Complainant to the OPs through his Ld. Advocate but they paid no heed and thus this case has been filed by the Complainant praying for directing OPs to pay matured sum of the two fixed deposits along with accrued interest, to pay compensation of Rs.50,000/- and Rs.20,000/- for mental agony and also litigation cost of Rs.10,000/-.

            Complainant has annexed with the complaint, two certificates towards fixed deposits, money receipts and the copy of the notices sent by the Complainant on 02.08.2018.

            Opposite Parties have contested the case by filing the written version denying the allegations contending inter alia that despite request after receiving the legal notice, Complainant did not produce the original Sahara M. Benefit Certificate before the Opposite Party for internal process for disbursement of payment. It is further contended that due to dispute with the SEBI, delay in payment happened. There has not been deficiency in service on the part of the OPs and thus OPs have prayed for dismissal of the case.

            During the course of evidence, Complainant has filed affidavit-in-chief followed by filing of questionnaire by OP and reply by the Complainant. But OP neither filed affidavit-in-chief nor was present on the date of argument. Complainant has filed the brief notes of argument.

            So, the following points require determination:-

            (1) Whether there has been deficiency in service on the part of the Opposite Parties?

            (2) Whether the Complainant is entitled to the reliefs as prayed?

            Decision with reasons

            Point Nos.1 & 2

            Both the points are taken up together for a comprehensive discussion.

            In support of his claim, Complainant has filed two certificates bearing Nos.56214037992 customer ID No.816902005719 and 562014030025, customer ID or Account No.816902005720 along with two receipts bearing Nos.071027418453 and 071027418454 showing deposit of sum of Rs.23050/- each on 25.06.2012 and 02.06.2012 respectively with the OP. It appears from the certificates and the receipts that no specific date of maturity has been stated but on a careful scrutiny of the terms and conditions it indicates that cumulative benefits were to be paid in 72 months suggesting thereby 6 years as claimed by the Complainant. Admittedly, said matured sum has not been paid by the OPs to the Complainant. Only contention raised by the OPs is that Complainant did not submit the original certificates and the receipts for their internal process for disbursement but OPs have not filed any document to substantiate that in spite of their demand, Complainant failed to deposit the said originals. So, in the absence of any document by the OPs, said claim of OPs appears to be after-thought for the purpose of this case.

            In this case, Ld. Advocate appearing for the Complainant has submitted that Complainant has not moved or filed any other case before any other Court, Forum or statutory body including SEBI. So, as OPs have admitted that they have not paid the matured amount to the Complainant, there has been deficiency in service and thus Complainant is entitled to the matured amount along with interest (in the form of compensation) from the date of its maturity.

            These points are thus answered accordingly.

            Hence,

                                ordered

            CC/532/2018 is allowed on contest. Opposite Parties are directed to pay the Complainant matured sum in respect of the two fixed deposits being customer ID or Account No.816902005719 and 816902005720 respectively along with interest @ 9% p.a. from the date of its maturity to till this date, within two months from the date of passing of this order. Opposite Parties are further directed to pay litigation cost of Rs.10,000/- to the Complainant within the aforesaid period of two months, in default entire sum shall carry interest @ 9% p.a. till realization. Complainant shall return the originals of the relevant certificates and the receipts to the OP on payment of the sum.