DISTRICT CONSUMER DISPUTES REDRESSAL FORUM

SOUTH 24 – PARGANAS , AMANTRAN BAZAR, BARUIPUR, KOLKATA-700 0144

      C.C. CASE NO. _119_ OF ___2017

DATE OF FILING : 13.9.2017                  DATE OF PASSING JUDGEMENT:  _6.7.2018_

Present                      :   President       :   Ananta Kumar Kapri

                                        Member(s)    :    Subrata Sarker &  Jhunu Prasad

COMPLAINANT        :    Mr. Tapas Thakur, son of late Kiriti Bhusan Thakur of Hirapur MCT Sarani Via Asansol, Hirapur, Burdwan, Pin-713325

• VERSUS  -

O.P/O.Ps                    :   1.  Alchemist Infra Realty Limited, 15, Ganesh Chandra Avenue, (HM  Building), 4^th floor, Kolkata – 700 013.

                                              2.   Alchemist Infra Realty Limited at Subhash Complex,Padmapukur, 2^nd floor, Baruipur, Kolkata -144.

                                         3.   Alchemist Township India Ltd. 15, Ganesh Chandra Avenue (HM Building), 4^th floor, Kolkata – 13.

                                              4.   Alchemist Township India Ltd.  Subhash Complex,Padmapukur, 2^nd floor, Baruipur, Kolkata -144.

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                                                            J  U  D  G  M  E  N  T

Sri Subrata Sarker, Member

                The nub of the facts leading to the filing of the instant case by the complainant is that  on the basis of the application submitted by the complainant, expressing his interest to acquire plot/villa/apartment in the housing project at Park Avenue, Talwandi Bhai, Tehsil Zeera, District Ferojpur, Punjab, a specific Consumer ID no. TLL0085964 dated 20.4.2013 was allotted in favour of  the complainant . Such consumer ID was issued for future correspondence. In the offer letter it was specifically provided that in the event plot/villa/apartment could not be provided by the company as per offer within five years and six months, same could be given in other area. In the offer letter it was also provided that on completion of tenure , entire amount as of Rs.1,00,000/- only would be refunded to the complainant being the investor. By this time the SEBI ordered to wind up the company and directed the O.Ps to refund the amount collected by them from the investors. Accordingly complainant has prayed for refund of Rs.1 lac which was paid to the O.P. Since the SEBI vide order dated June 21, 2013  ordered that Alchemist Infra Realty Ltd. and its directors should wind up the existing collective investment schemes and refund the money collected by the said company under the schemes with returns which are due to its investors as per the terms of offer within a period of three months from the date of this order and submit a winding up and repayment report to SEBI.   But the O.P failed to refund the assured amount. Therefore, the complainant prays for refund of the said money and  for payment of compensation etc. Hence, this case.

             Notice of the case was served upon the O.Ps through paper publication. But, notwithstanding such publication, none of the O.Ps has made any appearance in this case. The case is therefore, heard exparte against them. During exparte hearing, complainant has filed evidence on affidavit and the same is kept in the record.

DECISION WITH REASONS

Now to see whether the O.Ps have committed any deficiency in service by not paying the money to the complainant in accordance with the order of the SEBI. A copy of the order of SEBI is filed herein and on perusal of the said order it is found that the SEBI directed all the Cheat Fund Companies to refund the invested money and also to wind up their company. In the instant case, the O.Ps who also run a cheat fund company should have refunded the said money to the complainant in compliance of the order of the SEBI. But, they have not donethat thing. Non-compliance of the order of the SEBI by the O.Ps is nothing but gross deficiency in service for which they are liable .

In the result, the case succeeds.

Hence,

                                 ORDERED

That the complaint case be and the same is decreed exparte against the O.Ps with cost of Rs.10,000/-.

The O.Ps are directed to return the invested money of the complainant i.e Rs.1,00,000/- with agreed interest and also to pay a sum of Rs.50,000/- as compensation for harassment and mental agony suffered by the complainant within a month of this order, failing which they will have to pay interest @10% p.a upon the refund amount, compensation amount and the amount of cost as referred to above till full realization thereof.

     Let a free copy of this order be supplied /sent to the parties concerned at once for taking necessary action.   

Member                                         Member                                                                      President

Dictated and corrected by me

                                Member