31/10/2008 COMPLAINANT/BY SRI: - IP OPPOSITE PARTY/BY SRI:- The complainant has invested Rs.30,000/- in Supreme Bonds with the opposite party in January-2002. He was allotted two Supreme Bonds of Rs.15,000/- each. He submits that he was able to get 7 installments of Rs.750/- for each bonds over a period of 4 years and he has yet to get Rs.9,750/- from each of the two Supreme Bonds. 2. Notice was issued to the opposite party. On behalf of the opposite party, Recovery Manager Sri. Gopal was present before the Forum on 23/10/2008. The complainant was also present on that date and he submitted that he received 10 cheques of Rs.750/- each after filing complaint from the opposite party. The opposite party Recovery Manager also submits that 4th installment is due in June-2008 and as per the orders of High Court passed in Company Petition No.37/2003 the opposite party is liable to pay interest at 6% p.a after due date till payment. The Recovery Manager also submitted that 5th installment will be due in June-2009 and the opposite party will pay 4th and 5th installments of Rs.6,000/- each to the complainant. Since 4th installment is due in the month of June-2008 the opposite party Recovery Manager submits that opposite party will pay interest on 4th installment amount from June-2008 till payment and 6th installment will be paid on the date of due i.e., June-2009. The complainant has received 10 cheques for Rs.750/-. The total amount received by the complainant comes to Rs. 7,500/-. So, under this circumstance, the complainant also accepted and agreed to receive 4th installment of Rs.6,000/- which was due in June-2008 and the complainant also accepted and agreed that he will receive the 5th installment which is due in the month of June-2009. So, in view of the settlement of the matter amicably between the complainant and the opposite party the complaint deserves to be disposed off giving direction to the opposite party to pay 4th and 5th installments to the complainant. In the result, I proceed to pass the following:- ORDER 3. The complaint is allowed. The opposite party is directed to pay 4th installment of Rs.6,000/- which was due in June-2008 with interest at 6% p.a from June-2008 till payment/realisation. Accordingly, the opposite party also directed to pay 5th installment of Rs.6,000/- which will be due in June-2009 to the complainant. With this observation the matter is closed. 4. Send the copy of this Order to both the parties free of costs immediately. 5. Pronounced in the Open Forum on this 31ST DAY OF OCTOBER 2008. MEMBER MEMBER PRESIDENT
Consumer Court Lawyer
Best Law Firm for all your Consumer Court related cases.
