DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, BATHINDA

C.C. No. 94 of 15-01-2016

Decided on : 12-07-2016

Bimla Rani @ Vimla Rani aged about 39 years W/o Amar Singh, R/o Village Bandi, Tehsil & District Bathinda.

........Complainant

Versus

PACL India Limited, Branch Office: S.C.F No.12 Near Bibiwala Chowk, Bathinda, through its Manager/Authorized Signatory.

PACL Ltd., Registered Office : 22, 3rd Floor, Amber Tower, Sansar Chand Road, Jaipur 302004 through its Managing Director/Manager/Authorized Signatory (deleted vide order dated 18-01-2016).

PACL India Ltd. Corporate Office, 7th Floor, Gopal Das Bhawan, 28, Barakhamba Road, New Delhi-110001, through its Managing Director/Authorized Person/Director

.......Opposite parties

Complaint under Section 12 of the Consumer Protection Act, 1986

QUORUM

Sh. M.P. Singh Pahwa President

Smt.Sukhwinder Kaur, Member.

Sh.Jarnail Singh, Member.

Present

For complainant : Sh.Bharat Bhushan, Advocate.

Opposite parties : Opposite parties No. 1 & 3 exparte

Opposite party No. 2 deleted.

O R D E R

M. P. Singh Pahwa, President

The complainant Bimla Rani (here-in-after referred to as complainant) has filed complaint U/s 12 of Consumer Protection Act, 1986 against opposite parties PACL India Limited and Others (here-in-after referred to as opposite parties).

Briefly stated, the case of the complainant is that in the month of July, 2009, the agent/adviser of opposite parties approached her to sell Installment Payment Plan and conveyed her that as per the said policy, she is required to deposit 12 half yearly installments of Rs. 1280/- each with opposite parties and further conveyed her that after completion of 6 years, opposite parties would return her the above said amount alongwith interest i.e. Rs.23,100/- or they would allot/register a plot measuring 300 sq. yards in her name.

It is alleged that on assurance given by opposite parties, the complainant agreed to purchase the said policy. The agent of opposite parties obtained her signatures on blank printed forms and some blank papers. She paid first installment of Rs. 1280/- to the agent of opposite parties. They issued her policy bearing registration No. U018145006 commencing from 11-07-2009 but no terms and conditions were ever supplied to her. The said scheme was to be matured on 11-07-2015.

It is further alleged that after completion of 6 years i.e. in the month of December, 2015, the complainant approached opposite party No.1 and requested its officials to make the payment of maturity amount, they took the original policy document from her and obtained her signatures on some blank printed forms and blank papers and assured her that the maturity amount against the said scheme i.e. Rs. 23,100/- shall be made to her shortly and issued acknowledgment dated 24-12-2015, but till date nothing has been paid.

On this backdrop of facts, the complainant has alleged deficiency in service and unfair trade practice on the part of opposite parties and has prayed for directions to them for payment of maturity amount of Rs. 23,100/- alongwith interest @18% per annum and also claimed compensation to the tune of Rs.20,000/- and litigation expenses to the tune of Rs.5500/-. Hence, this complaint.

Upon notice, none appeared on behalf of opposite parties No. 1 & 3. As such, ex-parte proceedings were taken against them. In view of statement of counsel for the complainant, recorded separately, opposite party No. 2 was deleted vide order 18-01-2016.

Complainant was afforded opportunities to produce evidence.

In support of his claim, the complainant has tendered into evidence her affidavit dated 14.1.2016, (Ex.C-1), photocopy of acknowledgment, (Ex.C-2), photocopy of ledger account (Ex. C-3) and photocopy of policy (Ex. C-4).

We have heard learned counsel for complainant and gone through the file carefully.

Learned counsel for complainant has reiterated his averments as taken in the complaint and detailed above.

We have given careful consideration to these submissions.

From the contents of the complaint and relief claimed by the complainant, it is apparent that the complainant has claimed investor of opposite parties. Civil Appeal Nos.13301, 13319, 13394 and 13304 of 2015 titled as Subrata Bhattacharya Vs. Securities & Exchange Board of India relates to some investors who invested their money with PACL Limited (opposite party). Hon'ble Apex Court has passed the order vide which SEBI shall constitute committee for disposing of land purchased by company so that the sale proceedings can be paid to investors, who have invested the amount in the company for purchase of land. It is further ordered that the decision with regard to sale of property of company by committee is not to be interfered by any court.

The Paras No.3, 7, 12 and 13 of the order passed in the above said Civil Appeal are relevant and extracted as under:-

“3) The SEBI shall constitute a Committee for disposing of the land purchased by the Company so that the sale proceeds can be paid to the investors, who have invested their funds in the Company for purchase of the land. Hon'ble Mr. Justice R.M. Lodha, the former Chief Justice of India, would be the Chairman of the said Committee. It would be open to the Hon'ble Chairman of the Committee to appoint such experts or other persons, as he might think it necessary, in consultation with the SEBI, .so as to enable the Committee to sell the land and pay to the investors in a manner that might be decided by the said Committee.

7) The methodology with regard to recovery of amount by sale of the land and disbursement of the amount to the investors shall be overseen by the Members of the Committee.

12) The amount, which is lying in the bank accounts of the Company and other cash belonging to the Company shall be released in favour of SEBI so that it can be used either for disbursement in favour of the investors or for incurring necessary expenditure. If any amount has been deposited by the Company or by its Directors or by any other person on behalf of the Company in any Court, the same shall be released in favour of the SEBI, who shall have a separate account so as to deal with the same. The Committee shall also decide as to whether the staff of the Company should be continued or relieved.

13) The decision with regard to sale of property of the company by the Committee shall not be inferred with by any Court.”

The Hon'ble Committee under the orders of the Hon'ble Apex Court has already seized of the matter in question. In this complaint, it is not disputed that the complainant namely Bimla Rani is one of the investor, who made investment with opposite parties i.e. PACL Limited.

In view of aforesaid directions of Hon'ble Apex Court, we are of the opinion that this Forum cannot pass an executable order against opposite parties. Therefore, this complaint is hereby disposed off accordingly. However, the complainant is at liberty to approach the Hon'ble Committee to seek her claim.

Copy of order be sent to the parties concerned free of cost and file be consigned to the record.

Announced

12-07-2016

(M.P. Singh Pahwa)

President

(Sukhwinder Kaur)

Member

(Jarnail Singh )

Member