Order-13.

Date-12/04/2018.

        Smt. Sangita Paul, Member.

Complainants by filing this case state that they invested their hardearned money to the O.P.’s office  of the OPs in respect of land and the O.Ps. assured complainants that they will develop the said land and hand over the same to complainants within stipulated time. Complainants invested a sum of Rs.14,00,000/- the details of which are mentioned below-

Complainants further state they deposited their hardearned money to accuire plot/villa/ apartment in the OPs’. housing project in Park Avenue, Talwandi, Bhai, Tehsil- Zeera, Dist. Firozpur, Punjab.

            Complainants state that after maturity of the above mentioned amount all complainants deposited their original certificates to the OPs’ office but till date they have not refunded the said amount with interest and/or deliver the said plot to complainants til date. Complainants are consumer under the defination of C.P. Act, 1986 and the OPs. are bound to repay the amount to complainants. The OPs. have not developed the land. As such they are bound to rerpay the amount of Rs.14,00,000/- with interest to complainant. Complainants state that this is a clear case of unfair trade practice and missale of goods. For this reason the OPs. are bound to pay compensation.

            The case is filed within the period of limitation and jurisdiction of the Ld. Forum. Complainants jointly filed this case. Complainants are aggrieved by fraudulent bahavoirs  of the OPs.

            Hence complainants pray for admitting the petition and issuing show cause notice  upon the OPs. Complainants also pray for directing the OPs. immediately tor refund the principal amount of Rs.14,00,000/- with banking interest till date of payment due to non-development of the project till date. Complainants pray for directing the OPs. to pay a compensation of Rs.3,00,000/- for unfair trade practice on the part of the OPs. Complainants also pray litigation cost of Rs.40,000/-.

            The case was admitted on 09/08/2017.  On the next date i.e. 30/08/2017 notice was not sent to the OPs. Complainant is to take recourse to news paper publication. On 14/09/2017 complainant did not take step. Complainant prays for time for taking steps. On 15/01/2018 files track report of sending notice upon the OPs. Notice is sent upon OP1 but the same is returned with postal endorsement ‘unclaimed’ which tantamounts to good service. OP1 did not appear on 15/01/2018. On the next date i.e. on 05/02/2018 OP1 was absent. On 20/02/2018 complainant is present. Service against O.P.-1 tantamounts to good service. It appears that O.P.-1 is a company. Hence service against other OPs is also accepted.  No W/V was filed by the OP.  Hence, the case is fixed for ex parte hearing.  On 27-02-2018, complainant was present and prays for time for filing E.Chief.  As the OPs did not file written version, the complainant’s version remains unchallenged and uncontroverted.  On the next date, we proceeded for giving judgement.

Decision with Reasons

We have perused complaint petition, papers of Alchemist Township India Ltd. and other documents lying on record.  The OP, i.e., Alchemist Township India Ltd. is a multi-faceted and multi-disciplined organization having its core strength in Education, Food Processing, Finance, Sports, Real Estate and Entertainment.  They launched several Deposit Schemes to the public at large.  They also give advertisements for distributing/selling land against investment.  In this case, complainants also invested their hard-earned money for buying land.  The OP assured complainants that they would develop land and handover the same to complainants within stipulated period.  Being satisfied with the OP’s words, complainants invested a sum of Rs.14,00,000/- to the OPs.  They invested money to acquire land/plot/villa/Apartment in the OP’s housing project in Park Avenue, Talwandi-Bhai, Tehsil Zeera, Dist-Firozpur, Punjab.   After maturity of the invested amount, complainants, deposited their original certificates to the OP’s office.  In this context, it is to be mentioned that the OPs are unable to deliver land/plot/villa to their customers.  The OPs invested Rs.1,50,000/-, Rs.1,50,000/-, Rs.1,00,000/- on different dates for three years and Rs.10,00,000/- for a period of 2 years and 7 months.  After expiry of the period of maturity, the OPs gave neither land/plot/villa nor the maturity amount.  In the papers delivered by Alchemist Township India Ltd. it is clearly mentioned that if the OPs are unable to deliver land at proper time or complainants/applicants are not willing to accept land plot/villa offered to them by the OPs, from time to time for any reasons whatsoever the OPs shall refund the amounts thus received together with compensation, assessed by them, depending upon appreciation in the value of Real Estate, which in any event shall not be less than Rs.1,50,000/- (Rupees One lakh fifty thousand only) subject to deduction of applicable taxes and administrative costs.  Complainanits shall cease to receive any offer on and from 14-08-2016.  From the documents of Alchemist Township India Ltd., it appears that after the stipulated period, complaianits are entitltled to receive plot/villa/flat from the OPs or receive the amount which was deposited by complainants on different dates of the year 2013.  The OPs failed to return either the principal or the matured value.  They also failed to distribute land to complainants.  Thus the OPs failed and neglected to perform their duty.  The OPs have taken money for duping the public at large.  It appears from the behaviour of the OPs that they have taken a considerable amount from complainants and utilized the said money for their ulterior gain.  Complainants sent intimations to Alchemist Township India Ltd., but to no good.  The OPs remained absent on all the dates, they did not file any written version, the OPs did not ventilate their views – complainants have remained in dark.  The stipulated period has passed, Alchemist Township India Ltd. does not find it important to contact with complainants and inform the date of refund of money or handing over the plot/villa/flat.  They failed and neglected to disburse the matured amount.  We also observe with anxious thought that for their own benefit and expansion of business, they are harassing public inviting investment from their hard earned income and invest the money in the field of Education, food processing, finance sports, real estate and entertainment.  The OPs are deficient in service by not returning complainanits’ money.  They adopt unfair trade practice with regard to the documents and evidence on record, we think that complainanits are entitled to get relief. 

            In the result, the case succeeds.

Hence,

Ordered

That the instant case be and the same is allowed ex parte against the OPs.

            The OPs are directed to make payment of Rs.14,00,000/- with interest  at the rate of9 percent p.a. since the last date of maturity, i.e. 14-08-2016 till compliance apart from litigation cost of Rs.10,000/- to complainants from the date of this order.

            The OPs are directed to pay compensation of Rs.10,000/- of whihch Rs.2,000/- to each complainant within the stipulated period and the OPs are also directed to pay Rs.10,000/- for unfair trade practice to be paid to this Forum.

Failure to comply with the order will entitle the complainant to put the order into execution under appropriate provision in C.P. Act.