West Bengal

Howrah

CC/14/36

SRI DILIP KUMAR BANERJEE - Complainant(s)

Versus

MPS GREENERY DEVELOPERS LTD. - Opp.Party(s)

13 Oct 2014

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM HOWRAH
20, Round Tank Lane, Howrah – 711 101.
(033) 2638-0892; 0512 E-Mail:- confo-hw-wb@nic.in Fax: - (033) 2638-0892
 
Complaint Case No. CC/14/36
 
1. SRI DILIP KUMAR BANERJEE
S/O Lt. Santosh Baherjee, 43, Dharma Das Kundu Lane, P.O & P.S. Shibpur
Howrah
2. Smt. Shiuli Banerjee
W/O Sri Dilip Kumar Banerjee, 43, Dharma Das Kundu Lane, P.O & P.S. Shibpur
Howrah
3. Smt. Priyanka Banerjee
D/O Sri Dilip Kumar Banerjee, 43, Dharma Das Kundu Lane, P.O & P.S. Shibpur
Howrah
...........Complainant(s)
Versus
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
Kolkata 700 071
5. Mr. Pramatha Nath Manna, Chairman CUM Managing Director
344A, Lake Town Kolkata
Kolkata 700 089
6. Mr. Santanu Chowdhury Executive Director,
P-112, Block B Lake Town Kolkata
Kolkata 700 089
............Opp.Party(s)
 
BEFORE: 
 HON'ABLE MR. JUSTICE T.K. Bhattacharya PRESIDENT
 HON'ABLE MR. P.K. Chatterjee MEMBER
 HON'ABLE MRS. Smt. Jhumki Saha MEMBER
 
PRESENT:
 
ORDER

DATE OF FILING                    :     27-01-2014.

DATE OF S/R                            :      07-03-2014.

DATE OF FINAL ORDER      :     13-10-2014.

 

1.   Sri  Dilip Kumar Banerjee

son of late Santosh Banerjee , 

 

     2.  Smt. Shiuli Banerjee,  

wife of Sri Dilip Kumar Banerjee,

 

3.   Smt. Priyanka Banerjee,

daughter of Sri Dilip Kumar Banerjee,

both are residing at 43, Dharma Das Kundu Lane,

P.O. & P.S. Shibpur,  

District – Howrah. -------------------------------------------Complainants.

 

-          Vs.   -

 

1.     MPS Greenery Developers Ltd.,

      MPS ENCLAVE Commercial Building Village Dighisole,

      P.O. Dahijuri Jhargram

      West Midnapore 721504.

 

2.    MPS Greenery Developers Ltd.

being represented by its Director. Mr. Santanu Chowdhury

          having its Kolkata Office at MPS ENCLAVE, P- 112, Block B Lake Town

          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 – 711101.

 

4.    MPS Greenery Developers Ltd.,

having its corporate office at Om Towers,

32,  Chowringhee Road,

Kolkata – 700071.

 

5.    Mr. Pramatha Nath Manna,

Chairman CUM Managing Director,

          344A, Lake Town Kolkata

          Kolkata 700 089.

 

6.    Mr. Santanu Chowdhury Executive Director,

          P-112, Block B Lake Town Kolkata

          Kolkata 700 089.-------------------------------------------- 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

 

1.                  Complainants of three  numbers, namely 1)  Shri Dilip Kumar Banerjee,    2)

Smt. Shiuli Banerjee,   3)  Smt. Priyanka Banerjee   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. 3,00,000/- 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 complainant nos. 1, 2 & 3  made one time investments in monthly income scheme  as well as in fixed deposit scheme and recurring deposit  on different dates vide  Annexures of P/1 to P/5   collectively.  Their certificate nos. are as follows :

 

Shri Dilip Kumar Banerjee - Bond No. A/09/10/000572, A/11/10/002728, KA001/O/02/09/B00034.

Smt. Shiuli Banerjee – Bond No. O/09/08/B00118,

Smt. Priyanka Banerjee   – Bond No. O/09/08/B00119.

 

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. have not paid the maturity amount to the complainants even after the expiry of the maturity date. Complainants repeatedly went to the office of o.ps. but on different pleas they have returned the complainants  without giving their  maturity amount. It is further stated by the complainants that with this maturity amount,  they are to  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 requesting them to pay the maturity amount. 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 had attached the bank account of the o.ps. since 25-10-2013 which would be evident from Annexure ‘A’, ‘B’ attached with the BNA filed by them. Even 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. 36  of 2014 ( HDF 36  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 amounts  of Rs. 9,39,480/-  with upto date monthly interest to the  complainants of this instant petition with respect to all Bond 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 decreetal amounts of different complainants till actual payment.

           

      The complainants do get an award of Rs.15000/- as compensation and Rs. 5,000/-  as litigation cost and o.ps. are directed to pay the same with 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.

 

 
 
[HON'ABLE MR. JUSTICE T.K. Bhattacharya]
PRESIDENT
 
[HON'ABLE MR. P.K. Chatterjee]
MEMBER
 
[HON'ABLE MRS. Smt. Jhumki Saha]
MEMBER

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