| ORDER | DISTRICT CONSUMER DISPUTES REDRESSAL FROUM, BATHINDA C.C.No. 257 of 21-07-2015 Decided on 11-04-2016 Loveleesh Kumar aged about 30 years S.o Sh. Prem Kumar R/o Ward No. 14, Babu Ram Kohli Wali Rampura District Bathinda. ........Complainant Versus PACL India Limited, S.C.F No.12 Near Bibiwala Chowk, Bharat Nagar, Bathinda, through its Branch Manager. PACL India Ltd, having its head office 7th Floor, Gopal Das Bhawan, 28, Barakhamba Road, New Delhi-110001, through its Managing 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.Shaminder Singh, Advocate. Opposite parties: Ex-parte. ORDER Jarnail Singh, Member The complainant Loveleesh Kumar (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 opposite parties are collecting deposit from the consumers/public by promising lucrative high rate of interest besides doing other business of various kinds. It is alleged that on instigation of agent of opposite parties, the complainant purchased policy bearing registration No.U018111028, commenced on 7.10.2008 to earn his livelihood. At the time of issuance of policy, the agent of opposite parties obtained the signatures of the complainant on different blank unfilled forms that were not read over and explained to him. He paid all the required payments (in all Rs. 62,500/- on different dates through installments) to opposite parties. The said policy matured on 7.4.2014 having exp. realization value of Rs.90,920/-. On deposit of all the installments and receipt of all relevant documents, QRC is issued by opposite parties. Thereafter he submitted all the original documents alongwith receipts, stamp paper worth Rs.25/- duly signed by her, signed stamp etc. with opposite parties on 18.04.2014. Their officials obtained his signatures on some blank forms/receipts and thereafter QRC was issued. They assured that payment of maturity amount will be made shortly from the date of issuance of QRC alongwith interest at the prevailing market rate, which is not less than 15% PA. It is further alleged that after expiry of one month, the complainant approached opposite parties and requested them to release the maturity amount alongwith interest, but to no avail. They disclosed that some CBI enquiry is pending against them, but they clearly told that the said enquiry has no connection with the complainant nor any stay has been granted by any court. On this backdrop of facts, the complainant has alleged deficiency in service on the part of opposite parties and has prayed for directions to them for payment of maturity amount of Rs.90,920/- alongwith interest @15% per annum and also claimed compensation to the tune of Rs.20,000/-. Hence, this complaint. Upon notice, opposite parties appeared through their Authorized Representative and contested the complaint by filing their written version. In their joint written version, they have pleaded that PACL Limited, having its registered office at 22, 3rd Floor, Amber Tower, Sansar Chand Road, Jaipur, Rajasthan and Corporate office at 7th Floor, Gopal Das Bhawan, 28, Barakhamba Road, New Delhi and is a corporate body incorporated under the provisions of Indian Companies Act. It has status of a legal persona, as such being a legal entity, it has right to sue for its own liability. It is Real Estate Company and engaged in the business of sale and purchase of land and development and construction of residential as well as commercial projects. It is further pleaded that in this case the complainant applied for a piece of land vide registration No.U018111028 dated 7.10.2008 and he has duly executed agreement with the company for same. This complaint is based on false and baseless averments. He has intentionally and willfully not disclosed the material facts. There is no deficiency on the part of opposite parties U/s 2(g) of 'Act'. Therefore, complaint is liable to be dismissed. No cause-of-action has arisen in favour of the complainant and against opposite parties to file this complaint. This Forum has no jurisdiction to entertain and decide this complaint. There is an arbitration clause in the agreement, which has been executed between the parties, according to which the parties should invoke arbitration proceedings for the redressal of their grievances in accordance with Arbitration and Conciliation Act, 1996. It is further pleaded that as per record, the complainant has deposited a sum of Rs.64,020/- only with the company against sale consideration. CBI has registered a case against opposite parties vide R.C.BDI/2014/E/0004 U/s 420 and 120-B of IPC on 19.2.2014 and pursuant to the same it has passed directions to the concerned banks for freezing of their bank accounts. Opposite parties have filed a Writ Petition (Criminal) No.705/2014 before the Hon'ble High Court of Delhi against the direction of CBI for defreezing bank accounts. Vide order dated 6.5.2014, Hon'ble High Court allowed defreezing of the bank accounts. Thereafter CBI again freezed the bank accounts of company. The company has filed an application (Crl.M.A.No.12444/2014) in the aforesaid Writ Petition No.705/2014 before the Hon'ble High Court of Delhi, which is still pending. The company is helpless to make payment to the complainant due to defreezing of the bank accounts by the Hon'ble High Court of Delhi. Both the parties were afforded opportunities to produce evidence. In support of his claim, the complainant has tendered into evidence his affidavit dated 16.7.2015, (Ex.C-1), photocopy of acknowledgment (Ex.C-2) and closed the evidence. Subsequently, none appeared on behalf of opposite parties. As such, ex-parte proceedings were taken against them. 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. 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 abovesaid 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 Loveleesh Kumar 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 his claim. Copy of order be sent to the parties concerned free of cost and file be consigned to the record. Announced 11-04-2016 (M.P Singh Pahwa) President (Sukhwinder Kaur) Member (Jarnail Singh) Member
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