Haryana

Fatehabad

CC/48/2016

Shiksha - Complainant(s)

Versus

PACL - Opp.Party(s)

Inder Singh

08 Aug 2016

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, FATEHABAD.

                                                                           Complaint Case No.: 48 of 2016.                                                                                    Date of Instt.: 08.02.2016.                                                  Date of Decision: 08.08.2016.                                   

Shiksha daughter of Bhag Chand Godara, resident of village Mohammadpur Rohi, Tehsil and District Fatehabad.                                                                            

                                                                                                …Complainant.

                                    Versus

1. Branch Manager, PACL Limited, Near Wadhwa Hospital, Model Town, Fatehabad, District Fatehabad.

 

2. PACL House, B-1/5, Jwalaheri Road, Paschim Vihar, New Delhi-110063.

 

                                                                                    ...Opposite Parties.

           Complaint U/s 12 of the Consumer Protection Act, 1986.

Before:          Sh. Raghbir Singh, President.                                                                                        Smt. Ansuya Bishnoi, Member

Present:         Sh. Inder Singh Sihag, counsel for the complainant.                                

ORDER:-

                        This is a complaint under Section 12 of the Consumer Protection Act, 1986 brought by the complainant against the opposite parties i.e. PACL Limited. It has been averred in the complaint that complainant obtained a policy from the opposite parties on 17.11.2015 and out of her hardship saving deposited a sum of Rs.20,000/- for a period of 10 years with the opposite parties. It has been further averred that on 17.11.2015 i.e. date of the maturity, the opposite parties were to pay a total sum of Rs.74,134/- to the complainant. According to the complainant after maturity of the said policy, the opposite parties have failed to make any payment to the complainant despite her several requests and visits. As such, she is entitled to the above said amount alongwith interest @18% per annum from the date of maturity besides compensation of Rs.10,000/- on account of physical and mental harassment and Rs.11,000/- as litigation expenses. Hence, this complaint.

2.                     Upon presentation of this complaint, arguments on the maintainability of the present complaint before this Forum were heard.

3.                     In this complaint, it is not in dispute that the complainant Shiksha Rani Rani is one of the investors who has made investment with the opposite parties i.e. PACL Limited. However, the Hon’ble Supreme Court in Civil Appeal Nos.13301/2015 titled as Subrata Bhattacharya & Vs. Securities & Exchange Board of India with civil appeals Nos.  13319, 13394 and 13410 of 2015 has passed an order on 2.2.2016, the relevant paras of which are reproduced 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 interfered with by any Court.”

 

4.              From the order dated 2.2.2016 passed by the Hon’ble Supreme Court, it emerges out that matters pending adjudication before the Hon’ble High Court of Delhi relating to PACL were transferred to the Hon’ble Supreme Court. The Hon'ble Committee under the orders of the Hon'ble Apex Court has already seized of the matter in question. In view of the above order of the Hon’ble  Supreme Court of India, it is clear that the complainant has filed the present complaint being an investor, as such, we are of the opinion that it would not be proper to direct the company to pay to the complainant/ investor, the amount so deposited by her with the company, more so when the Hon’ble Supreme Court has directed to constitute a committee, who will refund the amount to the investors after getting the sale proceeds of the property of the company. In these circumstances, we are of the view that this Forum is unable to pass an executable order against the opposite parties and as such present complaint is not maintainable before this Forum. In such circumstances, the present complaint is dismissed. The complainant is at liberty to file/seek her claim/relief before the competent committee as constituted by the Hon’ble Supreme Court. A copy of this order be supplied to the complainant free of cost. File be consigned to the record room after due compliance.

ANNOUNCED IN OPEN FORUM                                                                                       Dt.08.08.2016

 (Raghbir Singh)                                        President,                                                 District Consumer Disputes Redressal Forum, Fatehabad.

(Ansuya Bishnoi)                                                                                                                   Member