Matter in brief:
The Complainant stated that being convinced by the representative of Sahara Q Shop(Opposite Party) she agreed to deposit in SAHARA Q SHOP UNIQUE PRODUCTS as SAHARA Q SHOP UNIQUE SCHEME that in the first part of the month of October in the year 2012 one officer of the Opposite Party No. 2 Branch office made a contact to this Complainant and tried to convince the Complainant regarding the investment and also convinced that the service and returned benefit of the Opposite Party Company is better than other financial institution and or bank. The Complainant convinced and agreed to deposit in SAHARA Q SHOP UNIQUE SCHEME and as such she invested an amount of total Rs. 21,000/-. The Company issued
certificates dated 09/10/2012 amounting to Rs. 10,000/- and dated 09/10/2012 amounting Rs. 11,000/- i.e. total Rs. 21,000/-. The O.P. No. 2 issued said certificate. Even after the maturity of the said scheme the Complainant went to the Office of the O.Ps for realizing their matured amount but the Opposite Party was neglected and refused to refund the matured amount inspite of several demands by Complainant. Hence, the Complainant filed this case praying for direction.
O.P. No. 4 – SEBI. The O.P. No. 4 stated that it is processing refund of the investors who had invested SAHARA Q SHOP UNIQUE SCHEME issued by SAHARA REAL ESTATE CORPORATION LTD. (SIRECL) and SAHARA HOUSING INVESTMENT CORPORATION LIMITED in terms of the direction of the Hon’ble Supreme Court and investment in other scheme / group companies of SAHAR group is not covered in the Hon’ble Supreme Court and therefore no payment can be made by SEBI to the investors of other scheme
group companies. Hence, O.P. No. 4 / SEBI prayed for dismissal of the case upon O.P. No. 4.
Order:
Considering the petition of Complaint, the written version of O.Ps and evidence of Complainant and the documents filed the Hon’ble District Commission observed that the Complainant has produced the copy of the documents from which it is evident that the complainant had deposited the amount as stated by the complaint and the O.P. Nos. 1 to 3 after maturity of the certificate failed and neglected to pay the maturity value. The O.P. NOs. 1 to 3 did not contravene the allegations of the Complainant by filing any evidence or on oath. The Complainant has proved her case by swearing of affidavit which was not contravened by the O.P. nO. 1 to 3. Therefore, we find that the Complainant has proved her case and is entitled to get the decree in her favour against the O.P. No. 1 to 3. So far as O.P. 4 / SEBI is not connected. It is found that the Complainant has not sought for any relief against the O.P. No. 4.
The O.P. No. 1, 2 and 3 are directed to pay the matured value in respect of said scheme being Certificate dated 09.10.2012 upon production of the original certificates and documents of deposit by the Complainant along with interest thereon @ 6% p.a. from the date of maturity till payment of the same within 02 months from the date of this judgment failing which the Complainant is at liberty to execute the decree according to law.
DCDRF North 24 Paraganas Barasat, Kolkata-700126.
Complaint Case No. CC/154/2019
Smt. Ashalata Podder Vs. Sahara Q Shop Unique Products Range Limited
Recent Comments