Contention of the complainant is that the complainant opened a recurring deposit account for sixty months that is for 5 years at the rate of 12 % interest from Sahara Company under Sahara benefit scheme in account number 16114201634. OP No. 3 is the agent of company and op No. 1 is managing director and op no.2 is the manager of the company. This complainant deposited the amount 2 thousand per month regularly as per terms and condition of the scheme being account No. 16114201034. Opposite Party no 3 on receiving the amount paid the receipt of this amount. In total he deposited Rs.1,20,000/- to the company.  Accordingly as per scheme he was entitled to get Rs. 1, 47,830/-  But after the completion of the term he went to the office of the company for getting the amount  with his pass book but  company did not pay any single farthing. This complainant tried his level best to satisfy   this opposite parties by presenting his all this relevant papers such as dated pass book, money receipt  given by op no.3 but opposite party made their mind not to release the amount due to the complainant. These opposite parties intentionally with view to deprive the complainant made such action. So it is an intentional negligence and deficiency of service on the party by the ops. Ops are liable to pay Rs.1, 47,830/- as maturity of his amount and Rs.2,00000/- as compensation and total four lakh for mental agony.

OP no. 1, 2 and 3 filed W.V but without adducing evidence against this litigation.

OP no. 1 and 2 on behalf of Sahara Company submitted that they have no ill motive to make the payment but unable to pay since there is an embargo order behind them by the apex Court. This complainant despite several requests did not produce the certificate or KYC before the opposite party behind disbursement of payment. Moreover this complainant is not a consumer under CP Act. Practically the relation between this opposite party and complainant is debtor and creditor and the transaction between the complaint and opposite party is commercial or financial transaction and grievance on it should be redressed in civil court.  So the complainant should be dismissed.

OP No.3 by his W.V submitted before this commission that he is an agent of Sahara Company.  It is fact complainant opened an account under this code and paid Rs.2,000/- per month without fail. The payment maturity was Rs.1, 47,380/- from the ops.  He collected all documents from complainant and deposited the same before the company for disburse. But Op 2 receiving all documents answered that amount could not be paid due to financial crisis and they had taken a period for consideration but till now no payment was made. This op no.3 has no liability because he merely collected the money and deposited to the company and got commission. So this case would not lie against him.

In order to prove the case complainant examined himself and filed some Xerox copies of document.  i.e. is pass book, receipt etc.

None of the ops adduce any evidence.

Decision

This commission perused all the documents and gone through the evidence of compliant and also perused W.V by the OPs.

Considering all of those documents there is no place to disbelieve the statement of the complaint that Sahara company exercised unfair trade practice behind the collection of money from the complainant and they transacted entire money of Rs.1,20,000/- of the complainant at their financial trading and finally failed to comply their under-taking to disburse amount of Rs. 1,47,830/- as maturity amount to the complainant. Practically company cheated the complainant. Accordingly as per our opinion / observation, the Sahara company (OP No. 1, 2 and 3) is bound to pay the maturity amount of Rs. 1,47,830/- and compensation of Rs. 50,000/-  severally and jointly to the  complainant.

Hence   order

The complaint petition is in success to be awarded as Rs.1,47,830/- and compensation of Rs. 50,000/- total Rs.1,97,830/- by the OPs jointly and severally  within three months from this date of order. In default complainant is at liberty to avail section 71 or 72 of consumer protection Act on expiry of that period.

No order of cost is made.