AI Structured Summary
Not yet generated for this judgment
Judgment
COMPLAINANT invested an amount with Opposite Party No. 1 which has a branch office at Balusaon, being motivated by Opposite Party No. 3, Field Officer. Matured value of the policy amount was Rs. 3,500/- which was to be paid on 5.7.1990. When the amount was not paid, notice was sent on 1.6.1991. When the Opposite Party did not respond to it, this complaint has been filed.
DESPITE valid service of copy of the complaint, no reply or statement has been filed by Opposite Party and accordingly the statement in the complaint goes unchallenged. Since the matured amount is not paid, the same is a deficiency in service. When the amount is not paid and no explanation is given, we are to draw an adverse inference against the Opposite Parties that on account of negligence they have not refunded the money and accordingly complainant is entitled to compensation.
In the present case, complainant, is to get Rs. 3,500/- on 5.7.1990. If he would have invested the amount he would have earned minimum some interest. We direct that interest @ 18% per annum shall be paid by the Opposite Parties to the complainant from the date of maturity till the payment.
IN result, complaint is allowed. No costs. Complaint allowed.