DATE OF FILING                    :     24-02-2014.

DATE OF S/R                            :      24-03-2014.

DATE OF FINAL ORDER      :     30-06-2014.

                                                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.                  Complainant, namely,  Debabrata Bhattacharya, by filing a joint petition U/S

12 of the C.P. Act, 1986 ( as amended up to date ) has prayed for a direction to be given upon the o.ps. to pay the  maturity amount of the investment along with statutory bonus   and to pay cost and compensation for causing mental and physical harassment along with other orders as the Forum may deem fit and proper. 

2.               Brief fact of the case is that complainant made one time investment in bond issued by the o.ps. His  total invested amount is Rs. 1,00,000/- which matured on 30-08-2013. The bond  nos. are  as follows :

Debabrata Bhattacharya - Bond No. O/08/07/005387 & O/08/07/B00102 vide  Annexure document acknowledgement no. 213642.  

O.P.  promised to pay the maturity amount with bonus on the date of maturity which was on 30-08-2013 and the complainant submitted original bond certificates on 31-07-2013.  But it is alleged by the complainants that o.ps. did not pay the maturity amount as well as bonus till the filing of this case. Complainant repeatedly went to the office of o.ps. but on different pleas they have returned the complainant after receiving the original certificates without giving their maturity amount and  bonus . It is further stated by the complainant that due to this non action and gross negligence on the part of the o.ps., complainant has been compelled to face tremendous problem due to scarcity of money with which  he was supposed to meet   their day to day expenditure, medical expenditure, children’s education etc. which are really at stake. So, finding no other alternative, complainant  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 complainant is  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 had attached the bank account of the o.ps. since 25-10-2013 which would be evident from Annexure ‘A’, ‘B’ & ‘C’ attached with the BNA filed by them. 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 complainant as well as the bonus amount . And for argument sake, even if the bank accounts are attached by the SEBI, is the complainant responsible for that ?  Why he should be harassed like anything ? People invest their hard earned money in a reputed company to get the ultimate benefit at their need. O.ps. have miserably failed to keep their promise which they made on the face of the bond certificate issued by them in favour of   complainant. For their own wrong doings, why complainant 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 bonus. O.ps. have miserably failed   to keep 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 complainant should be allowed. Points under consideration are accordingly decided.

      Hence,

                                    O     R     D      E      R      E        D

      That the C. C. Case No. 99  of 2014 ( HDF 99 of 2014 )  be  allowed on contest with  costs  against  the O.Ps. 

      That the  O.Ps. are directed jointly and severally  to pay the maturity amount of bond being amount of Rs. 1,00,000/- along with the legitimate bonus accrued thereon  with respect to the bond certificates in question  held by the respective complainant and his wife  within one month from this order  i.d., 10% interest shall be charged on the entire decreetal amount till actual payment.

      The complainant is  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.