Kerala

StateCommission

A/10/33

Integrated finance Co. Ltd. - Complainant(s)

Versus

Krishnakumar.M - Opp.Party(s)

S.Reghukumar

17 May 2010

ORDER

First Appeal No. A/10/33
(Arisen out of Order Dated 03/07/2009 in Case No. CC 110/06 of District Trissur)
1. Integrated finance Co. Ltd. ...........Appellant(s)

Versus
1. Krishnakumar.M ...........Respondent(s)

BEFORE :
HONORABLE JUSTICE SHRI.K.R.UDAYABHANU PRESIDENT
PRESENT :

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ORDER

KERALA STATE CONSUMER DISPUSTES REDRESSAL COMMISSION

VAZHUTHACAD, THIRUVANANTHAPURAM

 

APPEAL 33/2010

JUDGMENT DATED: 17.5.2010

 

PRESENT

JUSTIC SRI.K.R.UDAYABHANU    : PRESIDENT

SRI.M.K.ABDULLA SONA              : MEMBER

 

 

1. M/S Integrated Finance Co.Ltd.,               : APPELLANTS

    P.B.No.4980, “VAIRAMS”

    112, Thyagaraya Road,

    T.Nagar,

    Chennai – 6900017.

2. Branch Manager,

    M/S Integrated Finance Co.Ltd.,

    T.B.Road, Mission Quarters Road,

    Thrissur.

 

(By Adv.S.Reghukumar)

 

           Vs.

Krishna Kumar.M.,                                       :RESPONDENT

Moothedath House,

Nellikunnu.P.O., Thrissur.

(By Adv.Unnikrishnan)

 

JUDGMENT

JUSTIC SRI.K.R.UDAYABHANU    : PRESIDENT

 

 

The appellants are the opposite parties in CC.110/06 in the file of CDRF, Thrissur.  The appellants are under orders to pay a sum of Rs.10,000/- with interest at 14.16% from 1.4.05 till realization and cost of Rs.1000/-.

2. The complaint has been filed for return of the amount invested with the opposite party Company  in 10 bonds of Rs.1000/- each.  The maturity date was 15.12.2005.  After surrendering the bonds amounts were not paid.

3. The opposite parties/appellants has only contended that the High Court of  Madras  have formulated a scheme in proceedings  under the Companies Act  and that the complainant have to wait  for the rateable distribution.

4. The evidence  adduced consisted of Ext.P1 to P4.

5. It was admitted that scheme formulated by the Single Bench has been set aside by the Division Bench of the Madras High Court.  The counsel for the appellant has submitted that the matter is pending before the Supreme Court.  The appellant has also produced copy of the order of the Supreme Court directing to issue notice.  Evidently there is no stay.  In the circumstances we find there is no scope for further adjudication in the matter.  The appeal is dismissed.

Office is directed to  return the LCR along with the copy of this order to the Forum urgently.

 

JUSTIC SRI.K.R.UDAYABHANU    : PRESIDENT

 

 

SRI.M.K.ABDULLA SONA              : MEMBER

 

ps

 

PRONOUNCED :
Dated : 17 May 2010

[HONORABLE JUSTICE SHRI.K.R.UDAYABHANU]PRESIDENT