Ex-P A R T E O R D E R
PER SHRI. S. G. CHABUKSWAR – HON’BLE MEMBER
1) This is a complaint for the principle amount of fix deposit Rs.12,000/- with interest thereon, compensation for mental torture and cost of the complaint.
2) The case of the Complainant in short is as under –
Previously the Complainant had filed the Consumer Complaint No.188/2003 before this Consumer Forum in the month of July, 2003. The present Opposite Party was brought in a scheme and appointed a sub-committee by the Hon’ble High Court, Bombay in a Company Petition No.1017/2002 to secure the debts due from the Opposite Party. The Hon’ble High Court had granted stay in the said Company Petition therefore, this Forum disposed of the Consumer Complaint No.188/2003 on 13/06/2005. This Forum had granted liberty to the Complainant to re-approach this Forum in case she is not getting the redress of her deposit in near future. The Complainant was directed by this Forum for approaching to the sub-committee appointed by the Hon’ble High Court.
3) The further case of the Complainant is that, she made various attempts oral and written to the sub-committee but the said committee failed to elicit any response whatsoever from it. Hence, the Complainant was compelled to approach to the Ministry of Corporate Affairs, New Delhi which directed the Registrar of Companies, Ministry of Co-operate Affairs, Mumbai for taking necessary action to resolve the grievances of the Complainant by the letter dtd.10/05/2013. The Deputy Registrar of Companies, Maharashtra, Mumbai issued letter to Opposite Party and directed for taking necessary action regarding fix deposit of the Complainant by the letter dtd.02/08/2013. Opposite Party has submitted its reply to the Deputy Registrar of Companies, Government of India, Ministry of Corporate Affairs, Mumbai by the letter dtd.26/08/2013. It has been stated in the said letter that as per scheme of Committee the principal deposits form Rs.10,000/- to Rs.25,000/- only 55% of the deposit would be repaid without any interest to the depositors. The sub-committee unilaterally altered the conditions of the first repayment scheme submitted by it, reducing the repayment amount to 55% of the initial deposit without interest that too after the passage of eight years, wiping off the principal amount of the depositors. Hence, this complaint for the reliefs mentioned in above para no.1.
4) Opposite Party duly served with the notice, but failed to appear hence, complaint proceeded ex-parte against Opposite Party.
5) The Complainant has submitted alongwith the complaint her affidavit of evidence. The Complainant also submitted written notes of arguments. We have perused the documents produced on record. We heard oral argument of Shri. B.V. Mirza, Representative of the Complainant.
6) On perusal of documents filed at Sr.No.3 & 4 alongwith complaint shows that on 28/12/1996 the Complainant has deposited with Opposite Party Rs.12,000/- in fix deposit receipt no.0198040783 with interest @ 18% p.a. payable quarterly for 36 months and its maturity date was 28/12/1999. The Opposite Party has paid interest only upto 27/12/1998. The Opposite Party by the letter dtd.16/12/1998 asked the Complainant to return the interest cheque for the year 1999 therefore, the Complainant returned the said cheque to Opposite Party. The Complainant had requested to the Opposite Party for payment of principal amount of FDR and interest due by the letters dtd.14/05/2002 and 10/01/2003 but in vain. Hence, Complainant had filed Consumer Complaint No.188/2003 before this Forum against Opposite Party for F.D.R. amount Rs.12,000/- balance interest upto 27/12/1999 Rs.2,136/- and interest on the said amount @ 12.5% p.a. till filing of said complaint i.e. 03/07/2003 Rs.8,028.50, cost of the complaint Rs.1,000/- and Rs.10,000/- compensation for mental agony, Rs.5,000/- for indulging in discrimination and interest @ 12.5% p.a. till date of payment.
7) The document filed at Sr.No.2 alongwith the complaint shows that, in view of the orders of stay granted by the Hon’ble High Court in Company Petition No.1017/2002 this Forum disposed of the Consumer Complaint No.188/2003 and liberty was granted to the Complainant to re-approach this Forum in case the Complainant is not getting the redress of her deposit in the near future. The Complainant was directed for approaching to the Sub-Committee appointed by the Hon’ble High Court to secure back her deposit.
8) The correspondence produced on record by the Complainant shows that, on 29/03/2010 the Complainant had issued letter to the Sub-Committee appointed by the Hon’ble High Court and made inquiry about the delay in getting the relief. Thereafter, the Complainant sent a complaint to the under secretary to the Government of India, Ministry of Corporate Affairs, New Delhi. The said authority had received in all ten complaints against various companies including complaints against present Opposite Party by the end of 10/05/2013. The under Secretary to the Government of India, Ministry of Corporate Affairs, New Delhi sent all those complaints to the Registrar of Companies, Ministry of Corporate Affairs, Mumbai by the letter dtd.10/05/2013. On 02/08/2013 the Deputy Registrar of Companies, Mumbai sent to Opposite Party copy of complaint made by the Complainant and asked for taking necessary step regarding fix deposit receipt in question. A copy of said letter was also sent to the Complainant’s representative by the letter dtd.07/10/2013.
9) The Opposite Party by the letter bearing No.LFL/5899/2013/PRM, dtd.26/08/2013 informed to the Deputy Registrar of Companies Government of India, Ministry of Corporate Affairs, Mumbai that, Hon’ble High Court of Bombay in Company Petition No.1017/2002 and in Company Application No.231/2004 has appointed vide order dtd.12/03/2004 a special committee to manage the affairs of the Company. The special committee is required to look into all aspects with regards to the affairs of the Company including the repayment to the depositors and steps to be taken to recover the outstanding debts receivable by the Company from its borrowers/debtors. The special committee is appointed instead of appointment of official liquidator. Pursuance to the responsibility vested by the Hon’ble High Court of Bombay, the special Committee alongwith the learned Amicus Curiae (appointed by the Hon’ble High Court of Bombay vide its order dtd.14/03/2007) formulated comprehensive scheme of repayment to all class and categories of fixed deposit holders on the basis of the availability of funds and future recoveries from the debtors of the Company. Opposite Party has further mentioned in the said letter that, the Hon’ble High Court of Bombay vide its order dtd.09/02/2012 has sanctioned the scheme of repayment of fixed deposit holders. The repayment of pursuance of the scheme to the deposit holders shall be made category-wise as under –
The principal deposit amount upto Rs.10,000/- @ 55%, Principal deposit amount from Rs.10,001/- to Rs.25,000/- @ 45%, Principal deposit amount from Rs.25,001/- to Rs.50,000/- @ 35%, Principal deposit amount from Rs.50,001/- to Rs.1,00,000/- @ 30%, and principal deposit amount from Rs.1,00,001/- & above @ 25%. The scheme does not provide for payment of any interest on any category of fixed deposits. The letter shows that the special committee had invited the claim of fixed deposit holders through advertisement in the newspaper dtd.01/03/2012 and 02/03/2012 all over India. The letters received after 01/06/2012 are under consideration of the special committee and will take appropriate steps in due course and if required will take further orders form the Hon’ble High Court of Bombay. The Complainant has produced the copies of the above referred letters with the complaint.
10) The Complainant has admitted that, as mentioned in above para the special committee appointed by the Hon’ble High Court consisting of retired Justice V.R. Datar, Mr. S.C. Malhotra retired D.G. of Police Maharashtra and Mr. P.K. Bansal retired D.G. of Police Gujarat has formulated the scheme and directed to make the payment as above to the depositors. It appears that as per the letter of Opposite Party dtd.26/08/2013 addressed to the Deputy Registrar of the Companies Opposite Party did not make the payment to the Complainant as per the scheme formulated by the special committee appointed by the Hon’ble High Court Bombay. The Opposite Party did not appear in this complaint. On the other hand notice of this complaint was returned to this Forum as unclaimed and therefore, the complaint proceeded ex-parte against the Opposite Party. In our view as the Opposite Party did not challenge the claim made in the complaint by the Complainant, we therefore, find that, the claim made by the Complainant in view of the order passed by this Forum dtd.13/06/2005 that the Complainant is granted liberty to re-approach to this Forum in case she did not get the redress her deposit in the near future if considered. The claim made by the Complainant for refund of F.D.R. amount of Rs.12,000/- and interest from 28/12/1998 to 27/12/1999 i.e. till the date of maturity to the tune of Rs.2,136/- is just and proper. The Opposite Party therefore, is liable to pay Rs.14,136/- to the Complainant towards the due of F.D.R. amount. The Complainant has claimed further interest @ 12.5% p.a. We hold that the Complainant is entitled to said interest on the principle amount of Rs.12,000/- from 28/12/1999 till its realization. The Complainant has claimed an amount of Rs.10,000/- towards mental agony caused to her by the Opposite Party by not making payment in due time as agreed by the Opposite Party. We find that the said amount of compensation can be quantified to the tune of Rs.5,000/- and the same would be just & proper. The claim made by the Complainant of cost of Rs.1,000/- for filing this compliant is also just and proper. The Complainant has claimed Rs.5,000/- towards indulging in discrimination by the Opposite Party. However, the said claim is not justified for want of evidence. In the result following order is passed –
O R D E R
- Complaint No.179/2014 is partly allowed with cost against the Opposite Party as under -
- Opposite Party do pay Rs.14,136/- (Rs. Fourteen Thousand One Hundred Thirty Six Only) to the Complainant alongwith interest of F.D.R. till 27/12/1999.
- Opposite Party do pay interest @ 12.5% p.a. on the amount of Rs.12,000/- from 28/12/1999 till its realization to the Complainant.
- Opposite Party do pay Rs.5,000/- (Rs. Five Thousand Only) towards mental agony caused to the Complainant and cost of complaint Rs.1,000/- (Rs. One Thousand Only) to the Complainant.
- Opposite Party do comply the aforesaid order within one month from the receipt of this order.
vi. Certified copies of this order be furnished to the parties.
