West Bengal

South 24 Parganas

CC/283/2015

1. Krishnendu Mondal, S/O Jitendra Nath Mondal. - Complainant(s)

Versus

1. ' Rahul Hi Rise Limited.' - Opp.Party(s)

25 Nov 2016

ORDER

DISTRICT CONSUMER DISPLUTES REDRESSAL FORUM

SOUTH 24 – PARGANAS ,

Amantran Bazar, Kulpi Road, Baruipur, Kolkata - 144

 

 

C.C. CASE NO. _283_ OF ___2015_____

 

DATE OF FILING : 12.6.2015     DATE OF PASSING JUDGEMENT:          25/11/2016

 

Present                        :   President       :   Udayan Mukhopadhyay

 

                                        Member(s)    :    Sharmi Basu   & Subrata Sarkar

                                                                             

COMPLAINANT             :   Krishnendu Mandal,s/o Jitendra Nath Mandal of Vill.+ P.O Manmatha

Nagar, P.S. Gosaba, Dist. South 24-Parganas, Pin-743370 , presently at C/o Swapan Mandal , Garia Deshbandhu Nagar, Block-D, P.O Panchpota, P.S Sonarpur, Kolkata – 152.

 

-VERSUS  -

 

O.P/O.Ps                            :   1. Rahul Hi Rise Limited, Reg. Office:30H/1, Bidhu Bhusan Sengupta

Road, P.S. Behala, Kolkata – 34.

Head office:  P-745A, New Alipore, P-Block, Kundan Lal Saigal Sarani, Kolkata – 53

2.  The Bank Manager, The State Bank of India, 34, Tollygunge Circular Road, Kolkata – 53.

                                    Or

The Bank Manager, The State Bank of India, 43, Tllygunge Circular Road, Kolkata – 53.

________________________________________________________________________

 

                                                            J  U  D  G  E  M  E  N  T

 

Sri Subrata Sarker, Ld. Member

This is an application under section 12 of the C.P Act, 1986 filed by the complainant on a ground that he deposited Rs.30,000/- for five years in Rahul Hi Rise Limited on 22.2.2010 . Rahul Hi Rise Limited issued a Secured Redeemable Debentures Face Value of Rs.100/- each vide Folio no.02/10/28085, Allotment Letter no.C/46140, SD no.RHL/CAN/46142/59903. The Deposit value was Rs.30,000/-and the Redemption value was Rs.66000/- and the Redemption date was 28.2.2015. Rahul Hi Rise Limited also issued a cheque of Rs.66,000/- vide cheque no.742410 dated 28.2.2015 n favour of the complainant drawn on SBI, Tollygunge Circular Road Branch. The complainant deposited the said cheque in his Bank account but the cheque was not cleared by O.P-2 with the comments “Account blocked situation covered in 2125” and returned on 2.3.2015. thus being aggrieved the complainant filed the complaint petition.

O.P-1 did not contest the case but O.P-2 contested the case by filing written version.

                                                            Decision with reasons

O.P-2 in his written version has stated the cheque no.742410 dated 28.2.2015 issued by the O.P-1 in favour of the complainant was returned on the ground the Account of the O.P-1 remains in block situation. O.P-2 further submits that many cases are under adjudication in different courts in India and under investigation by the different investigating Agencies and hence the Account of the O.P-1 remains blocked. O.P-2 also submits that Sri S. Raman, Whole Time Member, SEBI has passed an interim order dated 1.10.2015 directing all the Directors of O.P-1 not to divert any funds raised from public at large through the offer of NCDs which are kept in Bank Account(s) and/or custody of O.P-1 ,for which it is

                                                            Ordered

That the complaint case is allowed on contest against O.P-1and dismissed against O.P-2, as Shri S. Raman, whole time member , SEBI, has passed an interim order dated 1.10.2015 directing all the Directors of O.P-1 not to divert any funds raised from public at large through  offer of NCDs which are kept in Bank Account(s) and/or custody of O.P-1.

O.P-1 is directed to refund the amount of Rs.66000/- , litigation cost Rs.5000/- and compensation to the tune of Rs.20,000/- to the complainant within 45 days from the date of this order along with interest @9% p.a till its realization .

It may be mentioned here that if O.P-1 failed to comply the above order then complainant is at liberty to execute the order through this Forum.

Let a plain copy of this order be served upon the complainant free of cost and one copy be sent to the O.Ps through speed post.

 

            Member                                               Member                                               President

 

 

Dictated and corrected by me

 

 

 

                        Member

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The judgment in separate sheet is ready and is delivered in open Forum. As it is ,

 

 

                                                Ordered

That the complaint case is allowed on contest against O.P-1and dismissed against O.P-2, as Shri S. Raman, whole time member , SEBI, has passed an interim order dated 1.10.2015 directing all the Directors of O.P-1 not to diver any funds raised from public at large through 7^th offer of NCDs which are kept in Bank Account(s) and/or custody of O.P-1.

O.P-1 is directed to refund the amount of Rs.66000/- , litigation cost Rs.5000/- and compensation to the tune of Rs.20,000/- to the complainant within 45 days from the date of this order along with interest @9% p.a till its realization .

It may be mentioned here that if O.P-1 failed to comply the above order then complainant is at liberty to execute the order through this Forum.

Let a plain copy of this order be served upon the complainant free of cost and one copy be sent to the O.Ps through speed post.

 

            Member                                               Member                                               President