Dt. of filing – 09/11/2017

Dt. of Judgement – 28/11/2018

Mrs. Sashi Kala Basu, President.

          This is a complaint filed under section  12 of the  Consumer Protection Act, 1986 by Shri Shymal Gupta and Smt. Sujata  Gupta against the Opposite Parties namely Teacher  Welfare  Credit and Holding Ltd.  and Shri Swapan  Ghosh, the Director of the Company alleging deficiency in services on the part of the Opposite Parties.

 The brief fact of the case of the complaint is that on 01.12.2012 complainants invested an amount  of Rs. 1,00,000/- with the OP No.1 by purchasing a Certificate of monthly instalment scheme  @Rs. 12.5 %  per annum issued by  OP No.1 bearing receipt No. 20781/7391, account no. D/20781/12/48 against the State Bank of India, New Garia Branch Cheque Bearing No. 25571 dated 01.12.2012 and the Certificate had to mature  on 01.12.2016. The complainant used  to receive the monthly interest of Rs.1042/- since January, 2013 out of the said Certificate of Monthly Instalment  Scheme  of Rs. 1,00,000/-. But on May, 2015 Opposite Parties issued a new Certificate for the same amount reducing the rate of interest @9% p.a. after collecting the earlier Monthly Instalment Scheme Certificate.  It was Certificate  bearing No. 33923, account  no. DNS/33923/15/36 and date of  maturity was on 01.05.2018. Complainant started receiving  monthly instalment @ Rs.750/- p.m. from the  OP on the basis of the said  new certificate. But suddenly in the  month of July, 2015, OP stopped  paying the monthly interest. Complainant requested  to the OP for payment of the said monthly interest. But all the  efforts went in vein. So, they requested the OP to refund the amount deposited  but   it was not refunded. A notice was sent  to the OP requesting  to reimburse  the principal amount of Rs. 1,00,000/-. But inspite of the same as the amount was not returned, this complaint  has been filed directing the OP to return  the principal amount  of Rs. 1,00,000/-, to make  payment  of calculated interest  as per  terms and condition  from July, 2015 to September, 2017 i.e. Rs. 20,250/- and further interest  until  realisation. The complainant have also prayed for directing the OPs  to pay an amount of Rs. 20,000/-  as compensation and  10,000/-  towards the litigation cost.

Opposite Parties  contested the case by filing  the written version denying the  material allegation against them  contending  inter alia  that  the Police  freezed all the  bank account and property of the Opposite Parties in a criminal  proceeding. So,  it is not possible for the OP  to pay any amount of the customers and thus  they have prayed for dismissal of the complaint petition.

The complainant  have also annexed  along with  the  complaint petition,  certificate receipt No. 20781/7391 showing the deposit  of amount of Rs. 1,00,000/-, the bank account, another receipt  bearing  no.33923 whereby  the  rate of interest  was reduced @9% and the copy of the Aadhar card.

            In course of the evidence parties  have filed  affidavit-in-chief  followed  by the cross-examination  in the form  of questionnaire and the reply thereto. Thereafter Brief Notes of Argument has been filed.

            So, the point requires  determination is (1) whether  there has been any deficiency in services  on the part of the  Opposite Parties ; (2) Whether the complainants are entitled to relief  as prayed for?

Decision with reasons

Point No 1 & 2 :

Both these points  are taken up together for discussion in order to avoid repitition. It is evident  from the receipt no. 20781/7391 as well as Receipt bearing no. 33923 that they were issued  by the OP (1) Namely Teacher’s Welfare Credit & Holding Ltd. of which the OP  No.2  is the Director. By the said documents  an amount of Rs. 1,00,000/- was   deposited by the complainants with the OP. Firstly, the date of maturity  was on 01.12.2016 but subsequently after the new certificate issued  whereby  the rate of interest  was reduced, the date  of maturity  was on  01.05.2018. The Bank Account which appears to be the copy of the  Pass Book of the Bank  account standing in the joint name of the complainants reveals that the   cheque issued in respect of   Rs. 1,00,000/-  was  encashed by the Opposite Parties. The W.V.  filed by the  OP  and also in the questionnaire filed by the OP against the evidence of the complainant, deposit  of the said amount of Rs. 1,00,000/-  by the complainants  with the OP, has not been denied and disputed.  The issuance of the certificate by the OP on two occasions  as claimed by the  complainants have also  not been denied and disputed. The specific  case of the OP appears to be  that these complainants along with other filed a criminal  case and  due to the same,  the OP stopped  paying the monthly interest. It is the specific  case of the OP  as stated in the W.V.  writ petitions were filed by the complainants and others  before the Hon’ble High Court at Calcutta against the Opposite Parties and the Hon’ble High Court  was pleased to pass  an order restraining the OPs from alienating their assets or creating third party  interest without the leave  of the Hon’ble  Court. On the basis of criminal case filed by the complainants  and others being Netaji Nagar Police Station Case No, 27/2017, the police  have sealed the office of the OP and have freezed  the accounts of the OPs and thus it is impossible   for the OPs to make  any payment  to the customers. So, it is apparent  that the  claim  of the complainants in this case has been admitted by OP. OP have only contended   that they  cannot pay the amount because of order of the Hon’ble Court and the order passed in the criminal  case.   But as the Hon’ble Court’s order is  already  referred  to above wherein the OPs have only been restrained  from  alienating the assets  or creating  third party  interest without the leave of the Hon’ble Court, the contention of OP that payment is impossible  can not be accepted. The  document filed along with  the W.V. which are  the copy of the certain prayer made by the Investigating Officer before  the Court of Ld.CJM and the copy of  order in the writ petition,  it appears that the present complainants are not the party. The complainants  have also  stated specifically  in their  reply to the questionnaire by the OPs  that they  did not file  any criminal  case  and neither they are  party in the writ application. Be that as it may  since the  complainants  have been able  to establish  that an amount of Rs. 1,00,000/-  was deposited  with the OP and  it was agreed that  initially  monthly  interest would be paid @ Rs. 12.5% and subsequently  by monthly instalment scheme certificate  dated 01.05.2015  the rate of interest was Rs. 9% p.a. and the OPs have  not made  the payment from the month of July, 2015, the deficiency in service on the part of the  OPs has been established. So the complainants are entitled to the principal amount of Rs. 1,00,000/-  deposited by them  and the interest  therein. But since interest is allowed, no order as  to compensation is passed.

            These points are thus answered accordingly.

Hence,

Ordered

          CC/633/2017 is allowed  on contest. Opposite Parties are directed to return the principle amount  of Rs.1,00,000/-  to the complainant along with  interest  as per terms and condition from July, 2015 to till September, 2017   i.e. Rs. 20,250/-, within  two months from this date. OPs are further directed to pay the interest on the said amount at the rate of 6% per annum till its realisation. Opposite Parties  shall also pay Rs.5,000/-  towards  litigation cost within the aforesaid period  of three months.