Judgment : Dt.28.2.2017

            This is a complaint made by Sri Partha Sarathi Das son of late Atul Krishna Das and Smt. Anita Das, wife of Sri Partha Sarathi Das, both of 25, Naktala Road, P.S.- Jadavpur, Kolkata-700 031 against (1) M/s Teachers’ Welfare Agro Ltd., 10/99, Bejoygarh, P.S.-Jadavpur, Kolkata-700 092, OP No.1, Teachers Welfare Credit & Holding Ltd., 10/99, Bejoygarh, Kolkata-700 092, OP No.2  and OP No.(3) Mr. Swapan Ghosh, Managing Director, M/s. Teachers’ Welfare Agro Ltd. & Teachers’ Welfare Credit & Holding Ltd., 10/99, Bejoygarh, Kolkata-700 092, of both OP No.1 & 2, praying for return of Rs.4,05,060/- and for compensation to the tune of Rs.1,00,000/- and litigation cost of Rs.1,00,000/-.

            Facts in brief are that OP No.3 is Managing Director, of both OP No.1 & 2 and is responsible for both day to day activities of these two organizations. Complainants deposited Rs.4,05,000/- in fixed deposit with an assurance of getting 12.5% interest and certificates were issued in favour of the Complainants. All the deposits matured, OP No.3 assured Complainant that he will pay the principal amount of all fixed deposits and issued 15 cheques in favour of the complainant No.1 and 5 cheques in favour of Compainant No.2. Complainant deposited their cheques in the respective banks but the cheques were dishonoured. Complainant issued notice to the OPs but of no use. So, Complainant files this case.

Decision with reasons

            Complainant files affidavit-in-chief. OP did not appear and so the case is heard ex-parte. Complainant also filed written argument.

            Main point for determination is whether Complainants are entitled to the reliefs as prayed for.

            On perusal of prayer portion, it appears that Complainant has prayed for refund of Rs.4,05,060/-. Further, Xerox copies of the documents filed, have revealed that OPs issued the cheques which bounced back.

            However, Complainants are silent on the point as to whether they filed any case under Sec. 138 of N.I.Act. If that be so, this complaint will not lie. However, since OPs did not challenge the allegations, the facts of complainants has to be believed. As such, Complainants are entitled to refund of Rs.4,05,000/-.

            Complainants have also prayed for compensation to the tune of Rs.1,00,000/- and litigation cost of Rs.1,00,000/-. Both appeared to be in excessive side. So, we are of the view that if compensation of Rs.20,000/- and litigation cost of Rs.10,000/- is awarded, the object of justice would be served.

            Hence,

ordered

            CC/545/2016 and the same is allowed ex-parte in part. OPs are directed to refund Rs.4,05,000/- to the Complainants within 3 months of this order, provided there is no case pending under Sec.138 N.I.Act and they are also directed to pay another Rs.30,000/- as compensation and litigation cost within the same period. In default, total amounts of Rs.4,35,060/-shall carry an interest of 10% p.a.