FINAL ORDER/JUDGEMENT
Smt. SAHANA AHMED BASU, Member,
Brief facts of the case are that, Complainant has invested Rs.59,901/- with the OP on 21/08/2019 under “F-3 Sahara I Select” scheme. Despite maturity the OPs did not refund the maturity amount of those certificate.There is deficiency in service and unfair trade practice on the part of the OPs. Hence, the consumer complaint.
OPs despite service of notice of the Complaint have failed to file Written Version within the limitation provided u/s 38(2) of the Consumer Protection Act, 2019. No request for condonation of delay or extension of time for filing written version is made. Therefore, right of the OPs to file W.V is closed.
Complainant has filed his evidence by way of affidavit supporting the allegations made in the complaint.
The Complainant has taken us through the Consumer Complaint as also adduced the evidence. On perusal of photocopies of certificate issued by the OP it is found that the Complainant has deposited her hard earn money under “F-3 Sahara I Select” SCHEME of the OP as mentioned in the table below:
Srl No. | Certificate No. | Deposited On. | Amount Deposited Rs. | Date of Maturity | Matured Amount Rs. |
1. | 715001055146 | 21.08.2019 | 59,901/- | 21.08.2022 | 84,161/- |
In view of the above, it is clear that OP had agreed to refund the investment amount with higher interest rate within stipulated periods according to the “F-3 Sahara I Select SCHEME from the date of issuance of the Certificate. Complainant has categorically alleged that despite maturity, OP has failed to refund the investment amount coupled with interest. As the OP has opted not to file Written Version despite service of notice of Complaint, the above allegations of the complainant is deemed to have been admitted as correct.
OP is fully aware that they are liable to pay the matured amount under the “F-3 Sahara I Select SCHEME including interest to the Complainant after stipulated maturity. Complainant invested his hard earned money with the OP. The OP deliberately make illegal gains and deprive the Complainant from his lawful right. Thus, the OP has adopted unfair trade practice, and in fact, withholding the matured amount of Rs.84,161/- OP has undoubtedly adopted unfair means of trade. Complainant cannot wait indefinitely to get matured amount. Complainant has suffered mental agony, pain and harassment. To get the relief, complainant has to wage a long drawn and tedious legal battle.
In view of the foregoing discussion, we are of the view that the Complainant is entitled to refund the matured amount of the said Certificate issued by the OP under “F-3 Sahara I Select SCHEME along with compensation and litigation cost.
Thus, the consumer complaint is allowed with following directions:-
- OPs is directed to refund the maturity amount of Rs.84,16/- to the complainant within 60 days from today.
- OPs is directed to pay Rs.10,000/- only as compensation for mental agony, pain and harassment to the complainant within the stipulated period.
- OPs is directed to pay a sum of Rs.5,000/- as cost of litigation to the complainant within the stipulated period.
With these directions the present Consumer Complaint stands disposed of.
Liberty be given to the complainant to put the order in execution, if the OP transgress to comply the order.
Copy of the Judgment be given to the parties as per rules
