West Bengal

Dakshin Dinajpur

CC/27/2021

Mr. Supankar Shil, S/O- Prolladh Shil - Complainant(s)

Versus

The Sector Manager, Sahara India Pariwar, Balurghat Sector - Opp.Party(s)

Santanu Dey

31 Mar 2022

ORDER

The brief facts of the complainant case is that the complainant is an investor of Sahara India Pariwar under Hili F.C. Branch of Dakshin Dinajpur. On 13.08.2012 he opened a recurring deposit policy under the    M. Benefit Scheme, vide code No.5411 and account No.54114200844. The term of the policy was 60 months and the mode of monthly premium of the policy was Rs. 1300/- (Thirteen hundred) only. The date of maturity of the aforesaid recurring deposit was 12.07.2017.

            After the commencement of the aforesaid policy the complainant used to deposit her premium regularly which was duly acknowledge by the office i.e the O.P., in the pass book. After receiving the premium amount the O.P. duly issued money receipt in favour of the complainant. The complainant has deposited 60 installments of Rs. 1300/- per month i.e. Rs. 78,000/- (Seventy eight thousand) only to the O.P. under the M. Benefit Scheme.

            After the maturity of the aforesaid the vide code No.5411 the complainant went to the office of the O.P. and submitted his prayer for withdrawal of the maturity amount along with interest and other benefits but the O.P. refused to accept it then he sent his prayer for getting her maturity amount to the O.P. through registered post on 15.07.2021. Thereafter on several occasions she went to the office of the O.P. for getting her maturity amount of her RD Policy but in every occasion he O.P. took a new plea and did not pay the maturity amount to the complainant. Finding no other alternatives the complainant filed this instant case praying for a direction upon the O.P. to pay the principal amount of Rs. 78,000/- along with benefits and interest as per Sahara M Benefit RD Scheme, Rs.50,000/- as compensation for mental pain and agony and Rs.20,000/- towards litigation cost.

             The O.P. appeared before this Commission and contested the case by filing written version. The O.P. claimed the averments made in the complaint are false and said that the case is not maintainable. It has been further stated by the O.P that due to some litigation pending with SEBI, the Hon’ble  Apex Court imposed embargo on the movable and the immovable properties of Sahara groups of companies and the O.P. craves leave of this commission and prays for dismissal of the instant case.

           In this case, the complainant has filed examination-in-chief by way of affidavit along with some documents by way of  firisti.

 

1. One RD policy (passbook), vide A/C No.54114200844issued by Sahara India Pariwar, in the name of Supankar Shil.

 

2. Xerox Copy of Aadhar Card of Complainant.

 

3. Copy of Demand Notice along with postal receipt and A/D Card.

 

 

Opposite party also filed examination-in-chief of O.P.W-1 by way of affidavit, no documents were filed.

 

                       Points for discussion

1. Whether the complainant is a consumer as per provision U/S 2 (1) (d) (ii) of the C.P. Act, 1986?
2. Whether there is any deficiency in service on the part of O.P. as alleged?
3. Whether the complainant is entitled to get any relief/ reliefs as prayed for?

 

                        Decision with Reasons

    Point 1:  

           This is an admitted fact by both the parties that the complainant has deposited total Rs. 78,000/- to the O.P. in the vide code No.5411  RD Scheme, vide A/C No.54114200844. So, there is no hesitation to hold that the complainant is a consumer within the meaning of the provision of C.P Act 2019.

 

Point No. 2 & 3: 

            These two points are taken up together as they are interlinked with each other. This is an admitted fact that the complainants had made investment in recurring deposit of Rs. 1300/- per month for 60 installments i.e. total amount of Rs. 78,000/- paid to the O.P. in the M. Benefit RD Scheme. After the maturity i.e. 22.07.2017 the complainant went to the office of the O.P. and submitted her prayer for withdrawal of her maturity amount along with interest and other benefits but the O.P. refused to accept it. Then, the complainant sent his prayer through registered post on 15.07.2021. Thereafter, he in several occasions went to the office of the O.P. for getting the maturity amount but the O.P. did not pay the aforesaid maturity amount.

 

We have gone through the complaint, the written version, evidence of both the parties and documents filed on behalf of the complainant. We have also considered all the documents along with the submission canvassed on behalf of the parties.

It is cleared that the complainant is entitled to get Rs. 78,000/- with interest and other benefits as per terms and conditions of the Sahara M. Benefit RD Scheme. O.P. claimed that the complainant did not purchase any goods or articles although he has deposited as advance for purchasing goods, so he is not entitled to get any remedy in this case.

 But, after scrutiny of the terms and condition stated in the RD passbook we do not find any such condition laid down in the passbook of Sahara M. Benefit RD Scheme. Moreover, the terms and conditions of the Sahara the RD Scheme which is described in the pass book Sl. No. 5 (i) maturity payment of regular accounts.  On deposit of Rs. 1,300/- per month maturity amount shall be paid to the member account holder within 30 to 35 days from the demand made with the society as per the following chart (for monthly mode)  

 

Tenure (Months)	Total Principal Amt. (Rs)	Maturity Amt (Rs)
60	12000.00	15,540.00

 

According to the aforesaid chart from which it appears that the interest of the invested amount (Rs.78000/-) is Rs. 23,010/- (Twenty three Thousand and Ten rupees.)  

 

It is clear that the complainant is entitled to get Rs. 78000/- with interest and other benefits as per the terms and conditions of Sahara M. Benefit RD Scheme. So the complainant is a bona-fide consumer of the O.P.  From the facts and circumstances of the case, we find that the O.P. has violated the terms and conditions as laid down in Sahara M. benefit RD Scheme. Therefore, we are of the opinion that the O.P. is liable for deficiency in service in not returning the sum invested by the complainant with accrued interest as agreed upon by and between the parties.

 

All the points are thus decided in favour of the complainant against the O.P.

 

 

Hence, it is

                                        ORDERED

 

       That the consumer complaint case No. 27/2021 is allowed on contest in part with cost against the O.P.

       The opposite party is directed to pay a sum of Rs. 78000/- as principle amount/invested amount with interest i.e total (Rs. 78000/- + Rs.23,010) = Rs.1,01,010 (One Lakh one thousand and ten rupees ) as maturity amount to the complainant.

      The O.P. is further directed to pay the interest @ 8 % p.a. on the aforesaid maturity amount i.e. Rs.1,01,010/- from the date of maturity  till realization by issuing an account payee cheque in favour of the complainant within 45 days from the date of passing this order. The O.P. is further directed to pay Rs. 5000/- towards litigation cost in default complainant is at liberty to execute the order as per law.

     Let a plain copy of this order be furnished to the parties forthwith free of cost.