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    Judgement2024 04 16

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    Amrit Shikhar
    The complainant invested money in various fixed deposits and recurring deposits with the opposite parties. When the investments matured, the opposite parties did not pay out the amounts owed. The court found in favor of the complainant and ordered the opposite parties to pay the full amounts invested plus interest and compensation for litigation costs and mental agony.

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    Judgement2024 04 16

    Uploaded by

    Amrit Shikhar
    32 views5 pages
    The complainant invested money in various fixed deposits and recurring deposits with the opposite parties. When the investments matured, the opposite parties did not pay out the amounts owed. The court found in favor of the complainant and ordered the opposite parties to pay the full amounts invested plus interest and compensation for litigation costs and mental agony.

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    The complainant invested money in various fixed deposits and recurring deposits with the opposite parties. When the investments matured, the opposite parties did not pay out the amounts owed. The court found in favor of the complainant and ordered the opposite parties to pay the full amounts invested plus interest and compensation for litigation costs and mental agony.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    32 views5 pages

    Judgement2024 04 16

    Uploaded by

    Amrit Shikhar
    The complainant invested money in various fixed deposits and recurring deposits with the opposite parties. When the investments matured, the opposite parties did not pay out the amounts owed. The court found in favor of the complainant and ordered the opposite parties to pay the full amounts invested plus interest and compensation for litigation costs and mental agony.

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    BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL

    COMMISION, REWARI.

    Consumer Complaint No: 368 of 2022


    Date of Institution: 15.09.2022
    Date of Decision: 16.04.2024

    Prem Kumari W/o Devender Singh, R/o village Bhudpur, Tehsil and District
    Rewari at present H. No. 76A Housing Board, Rewari, Tehsil and District
    Rewari.
    …..(Complainant)

    Versus

    1. Sahara Credit Co-op. Society Ltd. Regd. Office at Sahara India


    Bhawan, 1, Kapoorthala Complex, Aliganj, Lucknow-226024
    through its authorized signatory.

    2. Saharayn E-Multipurpose Society Ltd. Regd. Office at 9, Santoshi


    Vihar, Ayodhya Bypass Road, Near State Bank Bhopal-462041
    (MP) through its authorized signatory.

    3. Sahara India Parivar, Branch Office at Kanod Gate, Rewari


    through its Manager.

    …..(Opposite Parties)

    Complaint Under Section 35 of Consumer Protection Act 2019.

    BEFORE: SHRI SANJAY KUMAR KHANDUJA ....PRESIDENT


    SHRI RAJENDER PARSHAD ……….MEMBER

    Argued by: Sh. Sadhu Ram, Advocate for the complainant.


    Sh. Kuber Singh, Advocate for the OPs No. 1 to 3.
    (Defence of OPs struck off vide order dated 13.10.2023).

    ORDER

    (Per Sanjay Kumar Khanduja, President)


    This present complaint under Section 35 of the Consumer Protection

    Act, 2019 (for short the Act) has been filed by complainant Prem Kumari (for

    short the complainant) against the opposite parties (for short the OPs), alleging

    deficiency in services on their part.

    2. Brief facts of this case are as under:-

    3. Complainant alleged that she invested the following amounts in the

    shape of four FDs/RD of Rs.10,000/- each for the period of 96 months under

    Sahara E Shine Scheme and four FDs under Saharayn E-Multipurpose Society

    Ltd. for the period of three years of the respondents as under:-

    Sr. Date of Receipt No. Certificate No. Maturity Maturity


    No. Investment Date Amount
    1 03.02.2012 80124425049 351005235298 03.02.2020 26,120/-
    2 03.02.2012 80124425050 351005235299 03.02.2020 26,120/-
    3 02.04.2012 80120102495 351005173189 02.04.2020 26,120/-
    4 13.04.2012 80164184174 351005173204 13.04.2020 26,120/-

    Sr. Date of Amount Receipt No. Certificate No.


    No. Investment Invested
    1 02.05.2014 17,000/- 34001549629 304000360211

    2 02.05.2014 17,000/- 34001549630 304000360212

    3 02.05.2014 16,000/- 34001549631 304000360213

    4 02.05.2015 30,000/- 34006628162 304004002887

    It is submitted that the complainant has opened RD bearing Account


    No. 20884201438 on 09.07.2012 with the respondents for the monthly

    denomination of Rs.1000/- and deposited last installment on 29.04.2016 and due

    amount is of Rs.45,600/-. It is further submitted that the complainant is entitled

    to receive the said amounts with interest, which has not been paid so far by the

    OPs. Hence, this complaint to seeking the aforesaid amounts alongwith interest

    @ 24% per annum. That apart, directions are sought to direct to OPs to pay

    Rs.15,000/- as litigation expenses of Rs.1,00,000/- as compensation.

    4. Upon notice, opposite parties appear through Sh. Kuber Singh,

    Advocate but they failed to file reply in spite of availing of sufficient

    opportunities and thus the defence of the OPs was struck of on 13.10.2023 by

    this Commission.

    5. In exparte evidence, complainant tendered her own affidavit Ex.C1

    and adduced certain documents. Copies of fixed deposits certificates are Ex.C2

    to Ex.C10.

    6. We have heard the contentions of learned counsel for the parties and

    gone through the entire record available on the file and we are of the considered

    view that the present complaint has merit and the same deserves acceptance

    against the opposite parties for the reasons mentioned hereinafter:-

    7. From the perusal of oral evidence of the complainant in the shape of

    her affidavit coupled with the documentary evidence adduced by his, it is

    apparent that the opposite parties indulged in unfair trade practices and rendered
    deficient services towards the complainant by not paying the maturity amount of

    the said certificates. It appears that the complainant was dishonestly induced by

    opposite parties to invest her money with them, with a promise to pay attractive

    interest rate on the principal amounts. The complainant was taken in the trap of

    the opposite parties, who got invested her hard earned money with them by

    alluring huge returns on the investment. But when the time came for the payment

    to complainant with maturity value of the said certificates, then opposite parties

    faltered and refused to honour the said certificates. Still further the exparte

    evidence adduced by the complainant goes unrebutted, unassailed and

    unchallenged and there is no reason to disbelieve the same. From the

    receipts/certificates Ex.C2 to Ex.C10, it is evident that the complainant deposited

    an amount of Rs.17,000/- on 02.05.2014, Rs.17,000/- on 02.05.2014, Rs.16,000/-

    on 02.05.2014, Rs.30,000/- on 05.01.2015 but as per certificate no date of

    maturity and maturity value has been mentioned therein. However, Rs.10,000/-

    deposited on 03.02.2012 were matured on 3.2.2020 with maturity value of Rs.

    26120/- , Rs.10,000/- deposited on 03.02.2012 were matured on 3.2.2020 with

    maturity value of Rs. 26120/- , Rs.10,000/- deposited on 02.04.2012 matured on

    2.4.2020 with maturity value of Rs. 26120/-, Rs.10,000/- deposited on 13.04.2012

    were matured on 13.4.2020 with maturity value of Rs.26120/-. However, as per

    Ex. C -10, an amount of Rs.1000/- were deposited monthwsie on 09.07.2012

    and the total amount comes to Rs.45,000/-.


    8. Hence, as an upshot of our above discussion, the present complaint

    is allowed against the OPs, whereby all of them are jointly and severally liable to

    pay the aforesaid amounts of Rs.17,000/-, Rs.17,000/-, Rs.16,000/-, Rs.30,000/-,

    Rs.26120/-, Rs.26120/-, Rs. 26120/-, Rs.26120 and Rs.45,000/- i.e. in all

    2,29,480/- as per certificates, alongwith compensation of Rs.10,000/- on account

    of mental agony alongwith Rs.11,000/- as litigation expenses to the complainant,

    alongwith interest @ 9 % per annum with yearly rests from the date of filing of

    this complaint till the expiry of period of one month from today, failing which the

    said amounts shall fetch interest @ 12% per annum with yearly rests from the

    date of filing of the complaint till realization.

    9. Non-compliance of this order by OPs may entail consequences

    under Sections 71 and 72 of the Consumer Protection Act, 2019. However,

    Section 72 of the Consumer Protection Act, 2019 clearly envisages imprisonment

    upto 3 years or fine upto Rs.1,00,000/- or with both for non-compliance of order

    of the Consumer Commission.

    10. Free of cost copies of this order be sent to all the parties as per rule

    and thereafter this order be promptly uploaded on the website of this Commission.

    File be consigned to record room after due compliance.

    Announced in open Court:-

    16.04.2024 President
    District Consumer Disputes
    Member Redressal Commission, Rewari.
    DCDRC, Rewari

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