DATE OF FILING : 06-08-2014.
DATE OF S/R : 09-09-2014.
DATE OF FINAL ORDER : 21-05-2015.
1. Smt. Arati Das,
wife of Fatik Das,
residing at Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
2. Sri Rajendra Manna,
son of late Nilkamal Manna,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District – Howrah.
3. Santana Manna,
wife of Jagannath Manna,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia,
District Howrah.
4. Supriya Kayal,
wife of Lakshmi Kanta Kayal,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
5. Sk. Hapijul Rahaman,
son of Sk Sahadat Ali,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
6. Jhantu Manna,
son of Haradhan Manna,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
7. Shikha Mondal,
wife of Sunil Mondal,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
8. Progesh Das,
son of Nemai Das,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
9. Sovan Paral,
Son of Adhir Paral,
residing at village Jgatpur ( east ), P.O. Brindabanpur,
P.S. Uluberia, District Howrah.
10. Susama Manna,
wife of Mintu Manna,
residing at village Jamberia, P.O. Kushberia,
P.S. Uluberia, District Howrah. ……..…..…………………... COMPLAINANTS.
Versus -
1. Prayag Infotech Hi Rise Ltd.,
having its registered office at
P 45, Bhupen Roy Road,
Kolkata 700034.
- Prayag Infotech Hi Rise Ltd.,
having its Branch Office at Bagnan, P.S. Bagnan,
District Howrah.
- Shri Basudeb Bagchi,
son of Narendra Nath Bagchi,
Managing Director,
Prayag Infotech Hi Rise Ltd.,
residing at 139C/21/1, Becharam Chatterjee Road,
Kolkata 700034.
- Smt Swapna Bagchiwife
Wife of Sri Basudeb Bagchi,
Managing Director,
Prayag Infotech Hi Rise Ltd.,
residing at 139/21/C, Becharam Chatterjee Road,
Kolkata 700034,
- Smt. Papiya Manna,
wife of Sri Raju Manna,
Senior Developer,
Prayag Infotech Hi Rise Ltd.,
residing at village Bangnan, O.T. Road ( near B.D.O. Office ),
P.O. & P.S. Bagnan,
District Howrah,
PIN 711303….…….……..……………………………………………………………Opposite Parties.
P R E S E N T
Member In Charge : Smt. Jhumki Saha.
Member : Shri Subrata Sarker.
F I N A L O R D E R
Complainants ten in numbers 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.ps. to pay them the entire amount of fixed deposits scheme, monthly interest scheme and monthly recurring deposits scheme being Rs. 1,08,350/-, to pay an amount of Rs. 1,00,000/- in total as compensation for causing mental agony and harassment and litigation costs of Rs.10,000/- along with other orders as the Forum may deem fit and proper.
- Brief fact of the case is that complainants made investments in fixed deposits scheme, monthly interest scheme and monthly recurring deposits scheme issued by the o.ps., on different dates vide Annexures collectively. Their certificate nos. are as follows :
1. Smt. Arati Das Fixed Deposit Certificate Nos. 6541663, 6482546, Recurring
Deposit Certificate No. 73267.
2. Sri Rajendra Manna Recurring Deposit Certificate No. 6148299.
3. Santana Manna Fixed Deposit Certificate No. 5347022,
4. Supriya Kayal Recurring Deposit Certificate Nos. 5629884, 6273456,
5. Sk. Hapijul Rahaman Recurring Deposit Certificate No. 6121675,
6. Jhantu Manna M.I.S. Certificate No. 0049601,
7. Shikha Mondal Recurring Deposit Certificate No. 0490023349,
8. Progesh Das Recurring Deposit Certificate No. 6482663,
9. Sovan Paral Recurring Deposit Certificate No. 6148198,
10. Susama Manna Recurring Deposit Certificate No. 6197970.
3. O.Ps. promised to pay the monthly interest with respect to the MIS Scheme on due date. But it is alleged by the complainant that o.ps. have not paid the monthly interest amount to the complainant no. 6 since February, 2014 even after the expiry of the due date without any valid reason. Other complainants did not get their maturity amount on different dates. So they repeatedly went to the office of o.ps. but on different pleas they have returned the complainants without giving their due interest amount and maturity amount. It is stated by the complainants that with the monthly interest amounts and the matured amount of other fixed deposits they are to run their livelihood, meet medical expenditure, children’s education etc. which are really at stake. So, finding no other alternative, complainants filed this instant petition praying for the aforesaid relief.
- Notices were served. They 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.Ps. ?
- Whether the complainants are 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 written version filed by o.ps. and noted its contents. It is the specific plea taken by o.ps. that deposits of the different complainants have not yet matured also a civil Suit is pending before 5th Civil Judge ( Jr. Division ) at Alipore, having T.S. no. 1168T/2013 for which o.ps. are unable to disburse the matured amount to any of its depositors vide Annexure A of the written version.To be precise, o.ps. have become totally handicapped with respect to making any payment to its investors.And on this very ground o.ps. are not in a position to disburse any amount to its investors.Here we take pause. O.ps. have not annexed any order of any higher authorityshowing that there is any kind of specific embargo on the payment of maturity amount and interestamountof the complainants. And in that title suit complainants of this petition havenot been included asparties.Why they should be harassed like anything? As there is no specific order of any higher court o.ps. are very well in a position to make such payments. People invest their hard earned money in a reputed company to get the ultimate benefit at their need. If they cannot utilize their hard-earned money at their bare necessities what is the use of making an investment or savings? Sacrificing many present enjoyments involving monetary expenditure, people make an investment for all future needs. So entire spirit of making investment is getting frustrated.O.ps. have miserably failed to keep their promise which they made on the face of the Bond certificates issued by them in favour ofcomplainants. For their own wrong doings, why complainants should suffer at all ?Accordingly, the plea taken by o.ps. is not at all tenable with respect to the non-payment of maturity values. complainants have lost theirfaith on O.Ps.O.ps. have adopted unfair trade practice,too,which certainly amounts to deficiency inservice on theirpart which should not be allowed to be perpetuated for an indefinite period.And we are of the candid opinion that it is a fit case where the prayers of the complainants should be allowed. Points under consideration are accordingly decided.
Hence,
O R D E R E D
That the C. C. Case No. 437 of 2014 ( HDF 437 of 2014 ) be allowed on contest with costs against the O.Ps.
That the O.Ps. are directed jointly and severally to pay the principal amounts as well as the maturity amounts of all investments made by the complainants of this instant petition with respect to Fixed deposits, Recurring deposits and M.I.S. Schemes in question along with upto date monthly interest within one month from this order i.d., 9% p.a. interest shall be charged till actual payment.
The complainants do get an award Rs. 10,000/- as compensation and Rs. 2,000/- as litigation cost and o.ps. are directed to pay the same within one month from this order i.d. amount shall carry an interest @ 9% 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 In Charge, C.D.R.F.,Howrah.
