Punjab

Sangrur

CC/210/2015

Sita Devi - Complainant(s)

Versus

M/s Live Trading India - Opp.Party(s)

Nem Kumar

19 Nov 2015

ORDER

 

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR

                             

                                                                   Complaint no. 210                                                                                       

                                                                    Instituted on:  16.04.2015

                                                                   Decided on:    19.11.2015

 

1.    Sita Devi aged 58 years Wd/o Sh. Jagdev Ram son of Shri Budh Ram;

2.     Lakhwinder Kumar aged 32 years son of Late Sh. Jagdev Ram;

3.     Mandeep Kumar aged 29 years son of Late Sh. Jagdev Ram all residents of village Akoi Sahib, Tehsil and District Sangrur ;

4.     Darshana Kumari aged 35 years d/o Sh. Jagdev Ram, now w/o Baljit Singh r/o village Bardwal, Tehsil Dhuri and District Sangrur.

5.     Deepika Sharma aged 31 years wife  of Lakhwinder Kumar son of Late Sh. Jagdev Ram resident of Akoi Sahib, Tehsil and District Sangrur.      

                                                …. Complainants.    

                                         Versus

 

1.M/s Live Trading India, A partnership firm, SCF-44, Sector-9, Panchkula ( Haryana) through its partner/ authorized signatory Bhupinder Kumar Gupta son of Naranjan Dass Gupta s/o Mathura Dass resident of Street No.4, Tappa, Tehsil and District Barnala.

2.     Bhupinder Kumar Gupta son of Naranjan Dass Gupta son of Mathura Dass resident of Street No.4, Tappa, Tehsil and District Barnala ( partner of M/s Live Trading India, A partnership firm).

3.     Shree Kant Hotehunnur Ramachar son of H.Ram Acharya resident of  377, Sector 21, Panchkula ( partner of M/s Live Trading India, A partnership firm).

4.     Renu Gupta wife of Bhupinder Gupta son of Naranjan Dass Gupta son of Mathura Dass resident of street No.4, Tappa Tehsil and District Barnala.

5.     Naranjan Dass son of Mathura Dass ( father of Bhupinder Gupta ) resident of Street No.4, Tappa, Tehsil and District Barnala.

6.     Som Nath son of Shri Naranjan Dass son of  Mathura Dass ( brother of  Bhupinder Gupta) resident of Street No.4, Tappa Tehsil and District Barnala;

7.     Baljinder Singh son of Jarnail Singh resident of Village Badbar;

8.     Karamjeet Singh son of Jarnail Singh resident of village Badbar, Tehsil and District Barnala.

9.     Jogga Singh  Dhaliwal son of Bhajan Singh resident of Flat No.111-B, Garden Green, Sirhind Bye-pass, Near DCW, Patiala 

 

      ….Opposite parties.

 

 

FOR THE COMPLAINANT:    Shri Nem Kumar  Advocate                          

 

FOR THE OPP. PARTIES  :     Exparte                     

 

 

Quorum

         

                    Sukhpal Singh Gill, President

K.C.Sharma, Member

Sarita Garg, Member

                 

 

ORDER:  

 

Sukhpal Singh Gill, President

 

1.             Sita Devi, Lakhwinder Kumar, Mandeep Kumar, Darshana Kumari and Deepika Sharma complainants have preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that OPs launched financial scheme whereby  persons investing in it was assured monthly income of 10% for one year and return of principal amount thereafter.  The Ops No.2 to 9 came to the house of complainants at village Akoi Sahib in December 2013 and received Rs.15,56,000/- from the family of the complainants.  The OP No.2 issued cheque number 349246  dated 11/02/2015 of Rs. 15,00,000/-  in favour of Jagdev Ram and another cheque number 349235 dated 10.02.2015 of Rs.56000/-  in favour of complainant number 5.  Jagdev Ram suffered death on 31.05.2014 leaving behind  complainants number 1 to 4  as his only legal heirs and thus cheque  in favour of Jagdev Ram Could not be produced with the banker for encashment. However, cheque  in favour of the complainant no.5 was presented for payment  but the same was retuned dishonoured by banker of OP no.2.  Thereafter the complainants came to know that OPs No.1 to 3 along with different groups had collected money  from other  various persons by getting invested money from them in the said financial scheme. FIR no.4 dated 03.1.2015 was registered against the OPs No.2,3 and other at PS City Sangrur.  They gave false assurance for repayment. Thus, non-repayment of invested amount to complainants by the OPs with or without interest  amounts to deficiency in service  and unfair trade practice on the part of OPs. Thus, alleging deficiency in service on the part of OPs, the complainants have sought following reliefs:- 

i)      OPs be directed to repay the invested amount of Rs.15,56,000/-  alongwith interest @15% per annum from December 2013 till date,  

ii)     OPs be directed to pay to the complainant a sum of Rs.50000/- as compensation   on account of mental agony, harassment,

iii)     OPs be directed to pay Rs.11000/- as litigation expenses.

2.             After receipt of complaint, notices were sent to the OPs but they did not come present despite service and as such they were proceeded exparte.   

 

3.             In exparte evidence, the complainants have tendered documents i.e. copy of bank memo Ex.C-1, copy of cheque Ex.C-2, copy of another cheque Ex.C-3, copy of computerize list Ex.C-4,  details of vouchers Ex.C-5, Ex.C-6, copy of FIR Ex.C-7, copy of death certificate Ex.C-8, newspaper clipping Ex.C-9,  petition of Hon’ble High Court Ex.C-10,  registration certificate Ex.C-11, copies of J-forms Ex.C-12 to Ex.C-14, copies of bank statements Ex.C-15 and Ex.C-16, copies of FIRs Ex.C-17, Ex.C-18, affidavits Ex.C-19 to Ex.C-21 and closed evidence.

4.             From the perusal of documents placed on the file and after hearing the arguments of the learned counsel for the complainant, we find that the complainants had invested an amount of  Rs.15,56,000/- with the OPs. The complainant has produced copies of cheques Ex.C-2 and Ex.C-3 for an amount of Rs.56000/- and Rs. 1500000/- which were issued by the OPs in favour of Deepika Sharma and Jagdev Ram respectively. A list of investors including  the complainant Jagdev Ram Ex.C-4 has also been produced by the complainants which shows that amount of Rs.56000/- and Rs.1500000/-  had been invested by  Deepika Sahrma and  Jagdev Ram. Copies of FIRs registered against the OPs have also been produced by the complainants. The complainants in support of their case have also produced copies of J-forms Ex.C-12 to Ex.C-14. Further, the complainants have also produced bank statements Ex.C-15 and Ex.C-16 showing the entries in respect of payment. To corroborate their case, the complainants have also produced on record affidavits Ex.C-19 to Ex.C-21. All these things fully prove the case of the complainant. Moreover, the OPs have not come forward to contest the case of the complainant rather they chosen to remain exparte. As such, the case of the complainant further has gone unrebutted.

5.             So, in view of the above discussion, we allow the complaint of the complainants and direct the OPs to repay  an amount of Rs.15,56,000/- along with interest @9% per annum from the date of complaint till realization. We further order the OPs to pay to the complainant a sum of Rs.10000/- as compensation on account of mental pain, agony and harassment and also to pay to the complainant a sum of Rs.5500/- as litigation expenses.

6.             This order of ours shall be complied with  within 60 days from the receipt of copy of the order.  Copy of the order be supplied to the parties free of charge. File be consigned to records in due course.                  

                Announced

                November 19, 2015

 

 

( Sarita Garg)           ( K.C.Sharma)           (Sukhpal Singh Gill)                                                                                      

Member                 Member                          President

 

 

BBS/-