| ORDER | DATE OF FILING : 17-04-2014. DATE OF S/R : 26-05-2014. DATE OF FINAL ORDER : 28-01-2015. 1. Smt. Sabita Roy, wife of Sri Sisir Ray, residing at 166, Benaras Road, Salkia, District Howrah. 2. Smt. Shebani Sarkar, wife of Sri Amit Sarkar, 3. Bandana Bera, wife of Sri Samir Kumar Bera, residing at village Bhaskur, P.O. Baluhati, P.S. Domjur, District Howrah. 4. Shantanu Bera, Residing at village Bhaskur, P.O. Baluhati, P.S. Domjur, District Howrah. 5. Namita Bera, daughter of late Panchugopal Bera, residing at village Bhaskur, P.O. Baluhati, P.S. Domjur, District Howrah. 6. Joy Dev Bera, son of late Panchugopal Bera, residing at village Bhaskur, P.O. Baluhati, P.S. Domjur, District Howrah. 7. Purnendu Das, residing at G.I.P. Colony, Ramrajatala, District Howrah. 8. Bharati Sarkar, wife of Sri Prafullya Bera, represented by Shri Samir Kumar Bera, constituted attorney, residing at village Bhaskur, P.O. Baluhati, P.S. Domjur, 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 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. - 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 : Smt. Jhumki Saha. F I N A L O R D E R Complainants of eight 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 and monthly recurring deposits scheme being Rs. 5,29,675/-, to pay an amount of Rs. 40,000/- in total as compensation for causing mental agony and harassment and litigation costs of Rs.10,000/- 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 and monthly recurring deposits scheme issued by the o.ps., on different dates vide Annexures collectively. Their certificate nos. are as follows :
F.D.Certificate nos. 0370, 0368, F.D.Certificate no.0343, R.D.Certificate nos. 3392, 8583, F.D.Certificate nos.0129, 0003, F.D.Certificate nos.02793, 02797, 02794, 02796, F .D.Certificate nos. 0154, 01155, 0156, 0158, R.D.Certificate no. 0011, 3032, R. D.Certificate no. 3032. 3. O.Ps. promised to pay the maturity amount with respect to the investments on different dates. But it is alleged by the complainants that o.ps. have not paid the maturity amount to the complainants without any valid reason. Complainants repeatedly went to the office of o.ps. but on different pleas they have returned the complainants without giving their due maturity amount. It is stated by the complainants that with the maturity amount of the investments, 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. 4. Notices were served. They appeared and filed written version. Accordingly, case was heard on contest.- Upon pleadings of both parties 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. 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 the series of Annexures attached with the BNA filed by them. Even the o.ps. have also attached 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 theirproperty 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 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.Even o.ps. have prayed for dismissal of the instant complaint petition. 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.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 ?Accordingly, the plea taken by o.ps. is not at all tenable with respect to the non-payment of maturity values. complainants have lost their 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. 219 of 2014 ( HDF 219 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 the maturity amount of all investments made by the complainants of this instant petition with respect to all investments in question i.d., 9% p.a. interest shall be charged till actual payment. The complainants do get an award Rs. 3,000/- as compensation and Rs. 2,000/- 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 @ 9% 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. | |
