DATE OF FILING : 24-01-2014.
DATE OF S/R : 20-02-2014.
DATE OF FINAL ORDER : 11-08-2014.
1. Gopal Khamaru,
Son of Sambhunath Khamaru,
Residing at village – Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
2. Smt. Arati Das,
Wife of late Rabin Das,
Residing at village Uttar Panchpara, P.O. Radhadasi,
P.S . Sankrail, District – Howrah.
3. Anita Das,
wife of Malay Das,
residing at village & P.O. Kuldanga, P.S. Panchla,
District – Howrah.
4. Bhabesh Bank,
son of Manmotho Bank,
residing at village – Khatirbazar, P.O. Unsani,
District – Howrah.
5. Rina Adak,
wife of Rabin Adak,
residing at village – Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
6. Nazma Begum,
wife of Sk. Bachu,
residing at village – Panchpara, P.O. Radhadasi,
P.S. Sankrail, District – Howrah.
7. Kajal Khamaru ( Santra),
Wife of Santanu Santra, residing at village – Chandrabati,
P.O. Podrah, P.S. Sankrail, District – Howrah.
8. Jakri Sekh,
son of Idris Sekh,
residing at Chunabati, Mallickpara Panchpara, P.O. Radhadasi,
P.S. Sankrail, District – Howrah.
9) Chittaranjan Das,
son of Haradhan Das,
residing at village & P.O. Kuldanga, P.S. Panchla,
District – Howrah.
10) Srikanta Karar,
son of Sankar Karar,
residing at village – Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
11) Munmun Goswami,
son of Mithun Goswami,
residing at village _ Uttar Podrah Natunpally,
P.O. Podrah, P.S. Sankrail,
District – Howrah.
12) Smt. Sujata Goswami,
Wife of late Mukunda Goswami,
Residing at village – Uttar Podrah Natunpanny, P.O. Podra,
P.S. Sankrail, District – Howrah.
13) Prasanta Biswas,
son of late Gour Chandra Biswas,
residing at village – Saktinagar, P.O. Unsani, P.S. Sankrail,
District – Howrah,
self and the constituted attorney of the
complainant nos. 1 to 12 and 14 to 15.--------------------------------------Complainants.
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1. | MPS Greenery Developers Ltd., | | MPS ENCLAVE Commercial Building Village Dighisole, P.O. Dahijuri Jhargram | | West Midnapore 721504. | | | | | 2. | MPS Greenery Developers Ltd. Mr. Santanu Chowdhury | | MPS ENCLAVE, P- 112, Block B Lake Town Kolkata | | Kolkata 700 089 | | | | | 3. | MPS Greenery Developers Ltd. In-Charge Viz Mr. Palash Pattanayak and Mr. Amit Adya, | | 11/2/1 Bhagawan Chatterjee Lane, | | Howrah 711 101. | | | | | 4. | MPS Greenery Developers Ltd. OM TOWERS, | | 32, Chowringhee Road, | | Kolkata 700 071 | | | | | 5. | Mr. Pramatha Nath Manna, Chairman CUM Managing Director, | | 344A, Lake Town Kolkata | | Kolkata 700 089 | | | | | 6. | Mr. Amiya Kumar Banerjee, Director, | | having its residential address at 6, Haripada Bhattacharya Lane, 3rd floor, P.O. Santragachi, District – Howrah, PIN – 711104. ------------------------------------------- Opposite Parties. | | |
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P R E S E N T
President : Shri T.K. Bhattacharya, M.A. LL.B. WBHJS.
Member : Shri P.K. Chatterjee.
Member : Smt. Jhumki Saha.
F I N A L O R D E R
1. Complainants of thirteen numbers, namely 1) Gopal Khamaru, 2) Smt.
Arati Das, 3) Anita Das, 4) Bhabesh Bank, 5) Rina Adak, 6) Nazma Begum, 7) Kajal Khamaru ( Santra), 8) Jakri Sekh, 9) Chittaranjan Das, 10) Srikanta Karar, 11) Munmun Goswami, 12) Smt. Sujata Goswami, 13) Prasanta Biswas, by filing a joint petition U/S 12 of the C.P. Act, 1986 ( as amended up to date ) have prayed for a direction to be given upon the o.ps. to pay their respective maturity amount of the investments along with due monthly interest, to pay an amount of Rs. 3,50,000/- in total as compensation for causing mental agony and harassment along with litigation costs of Rs. 25,000/- and other orders as the Forum may deem fit and proper.
2. Brief fact of the case is that complainants made investments of different types i.e. in monthly income scheme as well as in fixed deposit scheme and recurring deposit scheme issued by the o.ps., on different dates vide Annexures P/1 to P/14 collectively. Their certificate nos. are as follows :
1) Gopal Khamaru - Certificate no. 007375.
2) Smt. Arati Das - Certificate no.001489,
3) Anita Das - Certificate no. 012120,
4) Bhabesh Bank - Certificate no. 005976,
5) Rina Adak - Certificate no. 004061,
6) Nazma Begum - Certificate no. 007626,
7) Kajal Khamaru ( Santra) - Certificate no. 008180,
8) Jakri Sekh - Certificate no. 018469,
9) Chittaranjan Das - Certificate no. 005715,
10) Srikanta Karar - Certificate no. 001561,
11) Munmun Goswami - Certificate no. 014128,
12) Smt. Sujata Goswami – F.D. Certificate no. 01569,
13) Prasanta Biswas - MIS NO. 001663, Recurring Deposit Certificate no. 001670.
O.Ps. promised to pay monthly interest of different amounts for different amount of investments made by the complainants on different dates. But it is alleged by the complainants that o.ps. failed to pay monthly interest regularly as well as the maturity benefit. Complainants repeatedly went to the office of o.ps. but on different pleas they have returned the complainants without giving their interest amount as well as the maturity amount. It is further stated by the complainants that with this monthly income, they run their livelihood, meet their medical expenditure, children’s education etc. which are really at stake. Complainants even submitted a joint petition on 05-09-2013. They have also informed the matter of non payment of monthly interest as well as maturity amount to the local police station on 15-10-2013. But they did not pay any heed to that request. So, finding no other alternative, complainants filed this instant petition praying for the aforesaid relief.
3. Notices were served. They appeared and filed written version. Accordingly, case was heard on contest.
4. Upon pleadings of both parties two points arose for determination :
i) Is there any deficiency in service on the part of the O.Ps. ?
ii) Whether the complainants are entitled to get any relief as prayed for ?
DECISION WITH REASONS :
5. Both the points are taken up together for consideration. We have carefully gone through the written version filed by o.ps. and noted its contents. It is the specific plea taken by o.ps. that SEBI has attached all bank accounts vide Annexures A & B attached with their BNA. O.ps. have also attached the order passed by Additional Secretary & Inspector General of Registration and Commissioner and Stamp and Revenue of Government of West Bengal. It is also the specific plea of the o.ps. that SEBI had prohibited the o.ps. to disburse, transfer, alienate any immovable property held by them vide their order no. RO/003/2014 dated 06th June, 2014 in Annexures – 1 & 2 of the said order marked as Annexure ‘C’ series. O.ps. have also attached the order passed by Assistant Commissioner of Income Tax, Circle 2, Paschim Midnapur, whereby the bank account of o.ps. had been attached by the said authority vide Annexure A series. O.ps. have also annexed the order passed by the Additional Secretary and Inspector General of Registration and Commissioner of Stamp and Revenue of Government of West Bengal dated 06-05-2013 as Annexure ‘B’. And on these grounds the o.ps. have prayed for the dismissal of the complaint petition on the plea that complainants have not made SEBI as an opposite party who have attached their bank accounts. And on this very ground o.ps. are not in a position to withdraw any amount from their bank accounts. But o.ps. have not annexed any order of any higher authority showing that there is any kind of specific embargo on the payment of maturity amount of different complainants as well as their monthly interest. And for argument sake, even if the bank accounts are attached by the SEBI, are the complainants responsible for that ? Why they should be harassed like anything ? People invest their hard earned money in a reputed company to get the ultimate benefit at their need. If they cannot utilize their hard-earned money at their bare necessities what is the use of making an investment or savings ? Sacrificing many present enjoyments involving monetary expenditure, people make an investment for all future needs. So entire spirit of making investment is getting frustrated. O.ps. have miserably failed to keep their promise which they made on the face of the Bond certificates issued by them in favour of different complainants on different dates. For their own wrong doings, why complainants should suffer at all ? Accordingly, the plea taken by o.ps. is not at all tenable with respect to the non-payment of maturity values as well as monthly interest. May be it is true that in some cases, the maturity dates have not yet been over. But as the O.Ps. failed to pay the monthly interest in time, complainants have lost their all faith on O.Ps. O.ps. have miserably failed to keep their own promise which certainly amounts to deficiency in service on their part which should not be allowed to be perpetuated for an indefinite period. And we are of the candid opinion that it is a fit case where the prayers of the complainants should be allowed. Points under consideration are accordingly decided
Hence,
O R D E R E D
That the C. C. Case No. 32 of 2014 ( HDF 32 of 2014 ) be allowed on contest with costs against the O.Ps.
That the O.Ps. are directed jointly and severally to pay the principal amounts as well as maturity amounts with upto date monthly interest to the complainants of this instant petition with respect to all certificates in question held by the respective complainants within one month from this order i.d., 10% p.a. interest shall be charged on the entire decretal amounts of different complainants till actual payment.
No order as to compensation. The complainants do get an award of Rs.10,000/- as litigation cost and o.ps. are directed to pay the same within one month from this order i.d. amount shall carry an interest @ 10% p.a. till actual payment
The complainants are at liberty to put the decree into execution after expiry of the appeal period.
Supply the copies of the order to the parties, as per rule.
DICTATED & CORRECTED
BY ME.
( Jhumki Saha )
Member, C.D.R.F.,Howrah.