DATE OF FILING : 21-05-2014.
DATE OF S/R : 24-07-2014.
DATE OF FINAL ORDER : 08-12-2014.
1. Shri Sharmistha Malick,
Wife of Ramesh Malick,
residing at Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
2. Srijan Parui,
son of Partha Parui,
residing at Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
3. Shri Suman Das,
son of Sukumar Das,
residing at Uttar Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
4. Smt. Alpana Dhara,
wife of Ramkanta Dhara,
residing at 384, G.T. Road, Batai Tala Bazar,
P.O. B. Garden, P.S. Shibpur,
District – Howrah.
5. Smt. Runa Laila Sekh,
wife of Sk. Sahabuddin,
residing at village – Chunabati, P.O. Radhadasi, P.S. Sankrail,
District - Howrah.
6. Shri Kamshodhar Bakshi,
son of Adinath Bakshi,
residing at Goyal Para, Duilya, P.S. Sankrail,
District – Howrah.
7. Shri Sanaka Khamaru,
wife of Panchkari Khamaru,
residing at village Panchpara, P.O. Radhadasi,
P.S. Sankrail, District – Howrah.
8. Rinku Das,
wife of Aloke Das,
residing at 197/A, G.T. Road, Hindmotor,
District – Hooghly.
9. Aloke Das,
Son of Sukumar Das,
Resinding at 197/A, G.T. Road, Hindmdotor,
District – Hooghly.
10. Kashinath Khamaru,
son of late Monoranjan Khamaru,
residing at village – Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
11. Smt. Aparna Dey,
wife of Tapan Dey,
residing at Andul Argari, P.S. Sankrail,
District – Howrah.
12. Shri Madhab Khamaru,
son of Mahesh Khamaru,
residing at village – Panchpara, P.O. Radhadasi, P.S. Sankrail,
District – Howrah.
13. Kashinath Parul,
son of late Balaram Parui,
residing at Village – Panchpara, P.O. Radhadasi, P.S. Sankarail,
District – Howrah.
14. Smt. Kalpana Khamaru,
wife of Madhab Khamaru,
residing at Village Panchpara, P.O. Radhadasi,
District – Howrah.
15. Shri Falguni Rana,
wife of Shyamal Rana,
Deyan Gazi Road, P.O. Bally,
District – Howrah. …................................................................... COMPLAINANTS.
Versus -
1. MPS Greenery Developers Ltd.,
having its registered office at
MPS ENCLAVE, Commercial Building, Village – Dighisole,
P.O. Dahijuri, Jhargram, West Midnapore,
PIN – 721504.
- MPS Greenery Developers Ltd.
being represented by its Director
viz. Mr. Santanu Chowdhury
having its Kolkata Office at MPS ENCLAVE, P-112,
Block ‘B’ Lake Town,
Kolkata – 700089.
- MPS GREENERY DEVEOPERS LTD.
being represented by its in-charge
Viz. Mr. Palash Pattanayak and Mr. Amit Adya,
having its unit office at
11/2/1, Bhagawan Chatterjee Lane,
Howrah – 7111 01.
- MPS GREENERY DEVEOPERS LTD.
having its corporate office at
OM TOWERS, 32, Chowringhee Road,
Kolkata – 700071.
- Mr. Pramatha Nath Manna,
Chairman Cum Managing Director,
Residing at 344A, lake Town,
Kolkata – 700089
- Mr. Santanu Chowdhury,
Executive Director,
Having its official address MPS Enclave,
P-112, Block ‘B’ Lake Town,
Kolkata 7000 89. …....................................................................Opposite Parties.
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
Complainants 15 in numbers by filing a 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 them the entire amount of fixed deposits scheme, monthly recurring deposits scheme being Rs. 3,26,609/-, to pay an amount of Rs. 1,50,000/- in total as compensation for causing mental agony and harassment and litigation costs of Rs. 25,000/- along with other orders as the Forum may deem fit and proper.
- Brief fact of the case is that complainants made investments in fixed deposits scheme, monthly interest scheme and monthly recurring deposits scheme issued by the o.ps., on different dates vide Annexures of P/1 to P/15 collectively. Their certificate nos. are as follows :
1. Shri Sharmistha Malick Recurring Deposit Certificate No. 004836.
2. Srijan Parui Fixed Deposit Certificate No. 00007.
3. Shri Suman Das Recurring Deposit Certificate No. 004842.
4. Smt. Alpana Dhara Recurring Deposit Certificate No. 004648.
5. Smt. Runa Laila Sekh Recurring Deposit Certificate No. 007074.
6. Shri Kamshodhar Bakshi Fixed Deposit Certificate No. 001813.
7. Shri Sanaka Khamaru Recurring Deposit Certificate No. 004833.
8. Rinku Das Recurring Deposit Certificate No. 011106.
9. Aloke Das Recurring Deposit Certificate No. 004845.
10. Kashinath Khamaru Recurring Deposit Certificate No.004839.
11. Smt. Aparna Dey Recurring Deposit Certificate No. 006478.
12. Shri Madhab Khamaru Fixed Deposit Certificate No. 004386.
13. Kashinath Parul- Fixed Deposit Certificate No. 001467.
14. Smt. Kalpana Khamaru Fixed Deposit Certificate No. 004860.
15. Shri Falguni Rana Recurring Deposit Certificate No. 7567.
3. O.Ps. promised to pay the maturity amount of investment made by the complainants on different dates in recurring deposits and fixed deposit. But it is alleged by the complainants that o.ps. have not paid the maturity amount to the complainants even after the expiry of the due dates without any valid reason. Complainants repeatedly went to the office of o.ps. in the months of February, March, April, 2014 but on different pleas they have returned the complainants without giving their maturity amount. It is further stated by the complainants that with the maturity amounts and monthly interest amount, they are to run their livelihood, meet medical expenditure, children’s education etc. which are really at stake. So, finding no other alternative, complainants filed this instant petition praying for the aforesaid relief.
- Notices were served. But o.ps. appeared but never filed written version. Accordingly, case was heard ex parte.
- Two points arose for determination :
i) Is there any deficiency in service on the part of the O.Ps. ?
- Whether the complainants are entitled to get any relief as prayed for ?
DECISION WITH REASONS :
- Both the points are taken up together for consideration. Although o.ps. have not filed written version in this particular case, they have filed written version and annexures in other alike cases like HDF Case Nos. 119 of 2014, 120 of 2014 and so on. It is to be mentioned here that o.ps. took a specific plea that SEBI had attached the bank account of the o.ps. since 25-10-2013. Even the o.ps. have also mentioned about Order no. RO/003/2014 ( Recovery Certificate no. 20 of 2013 ) dated 6th June, 2014 issued by Recovery Officer of SEBI restraining the o.ps. from disposing, transferring, alienating, changing all immovable properties held by the o.ps. vide Annexure. Also Directorate of Registration and Stamp Revenue,Government of West Bengal, vide their order dated 10-05-2013 has restrained the o.ps. from registering any of the irproperty in favour of any 3rd party. To be precise, o.ps. have become totally handicapped with respect to making any payment to its investors.Even o.ps. have prayed for the dismissal of the complaint petition on the plea that complainants have not made SEBI as an oppositeparty 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.Here we take pause. 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 the complainant. 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? Even o.ps. made payments of maturity value in HDF Case No. 88 of 2014 and HDF Case No. 89 of 2014 on 23-05-2014 and 30-06-2014. In spite of existence of different orders passed by different authorities in 2013 whereby o.ps. were restrained from making any kind of payment. As there is no specific order of any higher court o.ps. could make such payment. 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.Moreover, in this particular case the o.ps. have not filed any written version wherefrom it is crystal clear that they have nothing to put forward in their favour. And the allegations of the complainants against the o.ps .remained unchallenged and uncontroverted. 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 complainants. For their own wrong doings, why complainants should suffer at all ?O.ps. have miserably failed to keep their own promise which certainly amounts to deficiency in service on the irpart 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. 293 of 2014 ( HDF 293 of 2014 ) be allowed ex parte with costs against the O.Ps.
That the O.Ps. are directed jointly and severally to pay the maturity amounts of different complainants of this instant petition with respect to Fixed deposits and Recurring deposits in question held by them within one month from this order i.d., 10% p.a. interest shall be charged till actual payment.
The complainants do get an award of Rs. 15,000/- as compensation and Rs. 7,500/- 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.
