Counsel for the respondent has tendered his vakalatnama which is taken on record.

            This revision is directed against the order of the State Consumer Disputes Redressal Commission West Bengal dated 08.01.2014 in First Appeal No.100/2013 whereby the state Commission while concurring with the order of the District Forum issued following directions:

“The Appellant Company is also directed to pay compensation of Rs.2,00,000/- and litigation cost of Rs.10,000/- to the complainant / respondent.  The return of gold be made and the amount as mentioned above be paid by the appellants to the respondent /complainant within 45 days from this date failing which the interest @ 9% p.a. shall accrue on the aforesaid amount till realisation.  The impugned judgment stands modified accordingly”. 

            Mr. Mihir Chaudhary, Advocate for the petitioner submits that gold ornaments weighing 70.2 grams were pledged by the respondent complainant with them against the loan and those were lost due to inadvertence. It is contended that petitioner has no grievance against the order directing him to hand over new gold ornaments weighing 70.2 gm ( 24K) as per choice and design selected by the complainant but his grievance is against disproportionate compensation of Rs.2.00 lakhs awarded by the State Commission as also cost of Rs.10,000/-.

            Counsel for the respondent on the contrary has contended that the compensation awarded by the State Commission is reasonable because the gold ornaments had sentimental value as those were given to the respondent by the her mother in law.

            We have considered the rival contentions and perused the record.  So far as litigation expenses are concerned, we do not find any reason to interfere with the aforesaid order.  However, taking into account that the value of 70.2 gm (24K) gold even today is around 2,00,000/-, the compensation of Rs.2,00,000/- awarded by the State Commission is on higher side.  The State Commission has not given any reason for arriving at the quantum of compensation. Therefore, the order of the State Commission being arbitrary cannot be sustained.  Revision petition is, therefore, allowed and the order of the State Commission is modified to the extent that compensation awarded is reduced from Rs.2,00,000/- to Rs.50,000/-.

            Pursuant to the interim order dated 14.03.2014,   a sum of Rs.2,10,000/- was deposited by the petitioner with the District Forum concerned.  Out of said amount, Rs. 60,000/- shall be released to the complainant against compensation and the cost of litigation.   Petitioner to comply the remaining part of the order of the fora below within  one month failing which the respondent shall be entitled to seek execution of the order.