Delhi

New Delhi

CC/147/2019

SUHAILA KHATOON - Complainant(s)

Versus

M/S. PACL LIMITED. - Opp.Party(s)

09 Dec 2022

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION-VI

(NEW DELHI), ‘M’ BLOCK, 1^STFLOOR, VIKAS BHAWAN,

I.P.ESTATE, NEW DELHI-110002.

Case No.CC.147/2019     

IN THE MATTER OF:

 

SUHAILA KHATOON

20/13, OKHALA VIHAR,

DELHI-110025

ALSO AT:-

SUHAILA KHATOON,

R/O MOHALLA-GAGAN, DIWAN,

P.O. BIHAR SHARIF, DIST. NALADA,

BIHAR-803110                                                       ...COMPLAINANT

 

VERSUS

 

 

PACL LIMITED

7^TH, FLOOR, GOPALDAS BHAWAN,

28, BARAKHAMBA ROAD,

NEW DELHI-110001

ALSO AT:

PACL LIMITED

4^th FLOOR, INDERPRAKASH BHAWAN,

401-4010, BARAKHAMBA ROAD,

NEW DELHI-110001

THROUGH ITS MANAGING DIRECTOR.                            ...OPPOSITE PARTY

 

Quorum:

 

Ms. Poonam Chaudhry, President

Sh.  Bariq Ahmad, Member

                                                                                                                               Date of Institution:-  29.05.2019                                                                                                                                                                         Date of Order   : -     09.12.2022

 

ORDER

BARIQ AHMAD, MEMBER

 

1. The complainant Smt. Suhaila Khatoon (here-in-after referred to as complainant) has filed complaint U/s 12 of Consumer Protection Act,1986 against Opposite Party PACL Limited (here-in-after referred to as Opposite Party).
2. Briefly stated the case of the complainant is that the agent of OP contacted her in the year 2010. He represented that he is working under OP, and rendering banking services by offering various investment schemes including recurring deposit plan. He allured her to invest Rs.1100/- per month which started on 26.02.2011 in  the scheme, according to which she has to invest/pay an amount of Rs.11,00/- and she shall get an amount of Rs.75,000/- on its maturity after 5 years from the date of investment. On further enquiry  by complainant, agent of OP made it clear that in case the complainant wants to get refund of the invested amount before maturity of plan, She can approach OP and after completing formalities and after deposit of registration letter, her request for refund of invested amount shall be processed and invested/returns shall be refund to her with proportionate interest/returns and invested amount shall remain quite safe.
3. It is stated that the complainant started paying the installments with the agent of Rs.11,00/- each by way of cash against which the OP issued receipts regularly in favor of the complainant. The OP issued her registration No.0032343246 under payment plan No.2^ND for the term 5 years.
4. It is stated that in the year 2013-2014, the husband of the complainant got unwell and due to the said reason, the complainant had to go to her home town, Bihar, Due to compelling circumstances complainant could pay the installments for the aforesaid policy/plan approximately for two and half years only. It is further stated that the complainant is a house wife and illiterate lady with two daughters, the only source of income for the complainant was her husband1s earning and due to his illness, he was unable rendered unable to earn.
5. It is stated that in the year 2015, the complainant visited the OP to return her invested money with all benefits/interest but the OP company straight away refused to return her money not only that the OP officials deceitfully takes all the original receipts from the complainant and threatened her with dire consequences. The complainant also lodged a police complaint dated 13.08.2018 before PS. Barakhmaba police station, but no avail.
6. It is stated that she requested to refund her amount alongwith proportionate returns/interest, but no effect, refusal the amount as spent by the complainant is clearly unjust, illegal and unfair trade practice. The Opposite Party trying to run away from their liabilities, due to non-payment of the amount, the complainant is in great tension, mental agony and pain.
7.  On this backdrop of facts, the complainant has alleged deficiency in service and unfair trade practice on the part of OP and has prayed for direction to OP for payment of total installments paid towards policy/plan no.0032343246 with all the benefit and interest @ 24% p.a. from the date of first installment till the realization of the said amount and compensation Rs.50,,000/- as for harassment, mental agony and pain with Rs.50,000/- as cost of litigation. Hence, this complaint.
8. Notice of the complaint was issued to the OP which was duly served, vide order dated 26.02.2020 Op was proceeded against ex-parte.
9. In support of her claim, the complainant has tendered into evidence, photocopies of receipts, her own affidavit dated 25.05.2022.
10. We have heard the learned counsel for complainant and gone through the file carefully.
11. Learned counsel for the complainant has submitted that the complainant has invested an amount Rs.11,00/- p.m. each installment, as premium of the plan since 26.02.2011 with OP.  This facts is proved by registration No.0032343246 and payment receipts (Ex.CW1/A colloy.). From the unrebutted testimony of the Complainant filed by affidavit it has been proved that the Complainant had invest in the policy/plan of OP.
12. We have given careful consideration to these submissions.
13. As per complaint, she has invested an amount Rs.11,00/- p.m. since 26.02.2011 with Op till two and half year only. There is nothing on record to show that the complainant was debarred from claiming refund of her amount.
14. It had also been argued on behalf of the complainant, that the OP has also introduced recurring deposit scheme wherein investors have to deposit periodical installments, but now it is learnt that all the aforesaid schemes including one time deposit scheme have been declared by SEBI to be unauthorized schemes. The securities and Exchange Board of India passed order in the month of August 2014 against PACL/Op was directed as under:-

“PACL Limited, its promotors and directors shall windup all the existing collective investment of PACL Limited and refund the monies collected by the said company under its schemes with returns which are due to its investors…. Within a period of three months.”

15. On coming to know about orders of SEBI, the complainant approached OP and expressed her willingness to deposit the registration letter as well all original receipts as well as to complete the entire formalities, if any. She requested to refund her amount alongwith proportionate returns/interest, but no effect.
16.  For the reasons recorded above, the complaint is partly accepted Op is directed to pay Rs.25,000/- (Rupees Twenty Five thousand Only) as cost and compensation to the complainant. Opposite parties are directed to refund total installments paid towards policy/plan no.0032343246 with all the benefit from the date of first installment till the realization of the said amount and  alongwith interest @ 12% per anum to the complainant. The order shall be complied within 30 days of the receipt of the copy of the order; otherwise action can be taken against OP under the provision of the Consumer Protection Act.

Order accordingly. Office is directed to send one true copy of this order to the parties/speed post in accordance with the rules. This final order be sent to server (www.confonet.nic.in). Thereafter, file be consigned to record room.

Announced on this  09^th  day of December, 2022.

 

 

 

(POONAM CHADHARY)

President

 

 

(BARIQ AHMAD)                                         

                                                                MEMBER