Punjab

Sangrur

CC/605/2014

Parmod Kumar - Complainant(s)

Versus

PACL Ltd. - Opp.Party(s)

Shri Sanjeev Garg

07 Apr 2015

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR

                                      

                                                          Complaint no. 605                                                                 

                                                           Instituted on:  05.11.2014

                                                          Decided on:    07.04.2015

 

Parmod Kumar son of Shri Khushi Ram resident of #B-13-66, Shekhupra Basti, Sunami Gate, Sangrur.  

                                                …. Complainant.      

                                         Versus

PACL India Limited, SCO 10-12, Outside Dhuri Gate, Opposite Near HDFC Bank Limited Kaula Park, Sangrur through its Branch Manager     

      ….Opposite party.

 

FOR THE COMPLAINANT:    Shri Sanjeev Garg Advocate                          

 

FOR THE OPP. PARTY     :    Shri Naresh Juneja, Advocate                     

 

Quorum

         

                    Sukhpal Singh Gill, President

K.C.Sharma, Member

Sarita Garg, Member

                                   

ORDER:  

 

Sukhpal Singh Gill, President

 

1.             Parmod Kumar, complainant has preferred the present complaint against the opposite party (referred to as OP in short) on the ground that he had obtained the policy bearing number U107057251 dated 10.01.2008 from the OP and said policy was to be matured on 10.01.2014. In this policy, the complainant had to deposit total amount of Rs.15000/- in twelve half yearly installments and he had to get Rs.23100/- approximately after six years. Before the maturity date i.e. 10.01.2014, the complainant  submitted all the required documents with the OP for release of the maturity amount and in this regard the OP issued an acknowledgment dated 13.03.2014. Thereafter the complainant requested the OP number of times to release the maturity amount but all in vain. Thus, alleging deficiency in service on the part of OP, the complainant has sought following reliefs:- 

i)      OP be directed to release the maturity amount of Rs.23100/- alongwith all other benefits and interest @18% per annum from the date of maturity till realization,   

ii)     OP be directed to pay to the complainant a sum of Rs.5000/- as compensation   on account of mental agony, harassment and litigation expenses.

2.             In reply filed by the OP, preliminary objections on the grounds of maintainability, jurisdiction and cause of action have been taken up.  It is stated that M/s PACL  Limited is a registered company under the Companies Act 1956 and it is engaged in the real estate business and also in the  business of sale, purchase of agricultural land under certain schemes of fixed payment plan and installment payment plan etc. for which an agreement is executed  between the company and the customer and there is a specific clause in the agreement that any dispute pertaining to the said agreement will be referred to the arbitrator for resolution of the dispute. As such, this Forum has no jurisdiction to entertain and try the present complaint.  On merits, deposit of amount for purchasing the land by the complainant is admitted.  It is further submitted that due to dispute with SEBI, the account of the OP has been freezed by CBI  due to which they are unable to release the amount to the complainant.  Thus, there is no deficiency in service on the part of the OP.

3.             The complainant has tendered documents Ex.C-1 to Ex.C-4 and closed evidence. On the other hand, OP has tendered documents Ex.OP-1 to Ex.OP-2 and closed evidence.

4.             From the perusal of documents placed on the file and after hearing the arguments of the learned counsel for the parties, we find that the complainant had obtained the policy bearing number U107057251 dated 10.01.2008 from the OP and same was to be matured on 10.01.2014 and before the maturity date i.e. 10.01.2014, the complainant submitted all the required documents  policy with the OP for release of the maturity amount but OP failed to release the same. On the other hand, learned counsel for the OP has argued that OP  is a registered company under the Companies Act and engaged in the real estate business and also in the business of sale, purchase of agricultural land under certain schemes of Fixed payment plan and installment payment plan etc. for which an agreement  is executed between the company and the customer and there is a specific clause in the agreement that any dispute pertaining to  the said agreement will be referred to the arbitrator for resolution of the dispute.  Second objection of the OP is that the complainant had deposited the said amount for purchasing the land to the answering respondent. It has also been admitted by the OP that the complainant had deposited alleged amount. The argument of the learned counsel for the OP is not tenable because no such agreement as stated by the learned counsel for the OP has been placed on record. Further, no document has been produced by the OP that they have purchased any land for allotment to the complainant.  However, the OP has produced on record copy of letter of the bank of Baroda Ex.OP-2 in which two current accounts of the Sangrur Branch of the OP had been freezed by the Central Bureau of Investigation, New Delhi, but we feel that with the freeze of accounts, the OP cannot escape from their liability and same still stands. As such, OP is liable to return the amount as agreed between the parties.

5.             So, in view of the above discussion, we allow the complaint of the complainant and direct the OP to release the maturity amount of Rs.23100/- along with interest @9% per annum from the date of filing of the complaint till realization.  We further order the OP to pay to the complainant a sum of Rs.3000/- being consolidated amount of compensation.  

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.

April 7, 2015.

 

 

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

Member                    Member                       President

 

 

BBS/-