DATE OF FILING : 27-10-2014.
DATE OF S/R : 25-03-2015.
DATE OF FINAL ORDER : 15-01-2016.
1. Nitai Chandra Laha,
son of late Jatindra Nath Laha,
2. Mira Laha,
wife of Sri Nitai Chandra Laha,
both are residing at 13/1/1, Beni Mitra Lane,
P.O. and P.S. shibpur, District Howrah,
PIN 711102. …………………………………………………COMPLAINANTS.
Versus -
1. PAILAN PARK DEVELOPMENT AUTHORITY LTD.,
having its registered office at 127, Kankulia Road,
Kolkata 700029,
and having its branch office at
38, Nabin Mukherjee Lane, P.O. & P.S. Shibpur,
District Howrah,
PIN 711102.…….…………………………………………….OPPOSITE PARTY.
P R E S E N T
Hon’ble President : Shri B. D. Nanda, M.A. ( double ), L.L.M., WBHJS.
Hon’ble Member : Smt. Jhumki Saha.
Hon’ble Member : Shri A.K. Pathak.
F I N A L O R D E R
- Complainants, Nitai Chandra Laha & Smt. Mira Laha, by filing a petition U/S 12 of the C. P. Act, 1986 ( as amended up to date ) have prayed for a direction to be given upon the o.p. no. 1 to refund the principal amount with due monthly interest of M.I.S scheme ,to pay Rs.12,500/- as compensation along with other relief or reliefs as the Forum may deem fit and proper.
- Brief fact of the case is that complainants madeinvestmentin the scheme of M.I.S policy of o.p. company. The o.p. issued certificates vide Annexure in favour of the complainants which isas follows :
MS15330199 dated 19.10.2012.
- O.P promised to pay the monthly interest amount of bond certificate. And o.p paid the same upto 29.12.2013 @ Rs.2500 per month. But the said amount was deposited again for payment of monthly interest which will be matured on 28.09.2027 and the same was started on 29.09.2012. But o,p did not care to pay the same showing utter negligence towards the complainant. Complainant repeatedly went to the office of o.ps but on different pleas they have returned the complainants without giving their financial benefit since January,2014 to October,2014. It is further stated by the complainant that due to this non action and gross negligence on the part of the o.ps., complainants had been compelled to face tremendous problem due to scarcity of money with which they were supposed to meet their day to day expenditure, medical expenditure, children’s education etc. which are really at stake. So, finding no other alternative, complainant filed this instant petition praying for the aforesaid relief.
- Notice was served. O.p appeared and filed written version. Accordingly, case was heard on contest.
- Upon pleadings of both parties two points arose for determination :
i. Is there any deficiency in service on the part of the O.P. ?
- Whether the complainant is entitled to get any relief as prayed for ?
DECISION WITH REASONS :
- Both the points are taken up together for consideration. We have carefully gone through the complaint petition along with annexures filed by the complainant and w/v, evidence filed by o.p and noted their contents. Complainant invested Rs. 1,00,000/- in total in the o.p’s. company. It is a fact that o.p. has failed to pay the monthly interest with respect to the certificate in question for which complainants felt tremendous monetary problem. Because, people invest their hard earned money in a reputed company to get the ultimate benefit at their need. O.p. has miserably failed to keep his promise which they made on the face of the certificates issued by them in favour of complainants .Denying and disputing all allegations, they took a specific plea that certain writ petitions bearing nos. 31611 of 2014,34339(w) of 2014,27330(w) of 2015 and an order has been passed whereby o.p has been restrained from disposing of and/or alienating its assets. They have even stated that some annexures like ‘A’, ‘B’ etc. have been filed. But on going through the record we have not found any such document. There is no restraining order of any higher Forum finds place on record. For o.p’s gross negligence in discharging duties, complainants had to suffer a lot for the crying need of money. Sacrificing many present enjoyments involving monetary expenditure, complainant made those investments foreseeing their future needs. If that criteria is not fulfilled due to o.p’s severe negligence, complainants are, thereby, truly prejudiced which can be very well understood by a man of common prudence. O.p. has miserably failed to keep promise which certainly amounts to deficiency inservice coupled with unfair trade practice on theirpart which should not be allowed to be perpetuated for an indefinite period.And as o.p failed to pay monthly interest properly, complainants lost their faith on o.p’s future activity. So, they cannot wait upto 28/09/2027 and they arepraying for release of their principal amount being Rs.1,00,000.Andwe are of the candid opinion that it is a fit case where the prayers of the complainants should be allowed against O.P in part. Points under consideration are accordingly decided.
Hence,
O R D E R E D
That the C. C. Case No. 554 of 2014 ( HDF 554 of 2014 ) be allowed on contest with costs against the O.P.
That the O.P. is directed to pay the principal amount of 1,00,000/- and all due monthly interest @ Rs.2,500 since January,2014 till actual payment to the complainant in terms of the certificate being no. MS15330199 in question within one month from this order i.d., @ 8% p.a. interest shall be charged on the entire amount till actual payment.
No order as to compensation.
The complainant do get Rs.2000/- as litigation cost and o.p. is directed to pay the same within one month from this order i.d. amount shall carry an interest @ 8% p.a. till actual payment.
The complainants are at liberty to put the decree into execution after expiry of the appeal period.
Supply the copies of the order to the parties, as per rule.
DICTATED & CORRECTED
BY ME.
( Jhumki Saha)
Member, C.D.R.F., Howrah.
