No. 9/21.09.2010.

HON’BLE JUSTICE SRI PRABIR KUMAR SAMANTA, PRESIDENT.

Appellant through Mr. P. Banerjee, the Ld. Advocate and Respondent through Mr. Prabir Basu, the Ld. Advocate are present. 

This appeal is by the Company who failed to repay the principal amount along with maturity interest on the said principal which was deposited by the Complainant with the Company in a cumulative fixed deposit scheme of the Company. 

It is not in dispute that the Complainant deposited a sum of Rs.3,000/- only on 03.05.1995 for a period of three years with the aforesaid Company which matured on 03.05.1998.  The Complainant approached the said Company for payment of the matured amount with accrued interest on 29.04.1998.  The said Company did not make any payment to the Complainant and ultimately he came to know that the Company was taken over by B.I.F.R.  The Complainant then applied to the B.I.F.R. for payment of the said amount when he was asked by the B.I.F.R. to approach the I.D.B.I. Bank who was appointed as the official agent for the said company.  The said I.D.B.I. Bank in its turn referred the matter to the State Bank of India which was later on appointed as the official agent of the B.I.F.R. since November, 2002.  The Complainant lastly approached the State Bank of India, Rehabilitation and Recovery Bank, being the official agent of the said Company for payment of the aforesaid amount on 18.08.2006.   Since such demand of the Complainant remained unanswered the complaint case was filed before the concerned Forum on 10.06.2008.

The said Company did not appear to contest the said claim case.  Accordingly on the basis of the Affidavit of evidence as filed by the Complainant and upon perusal of all the documents that have been filed by the Complainant before the Forum below the said complaint case has been disposed of by directing the said Company to pay the principal amount of the fixed deposit under A/c No. 3D20118 for the sum of Rs.3,000/- along with interest on maturity as on 03.05.1998 at Rs.1,692/- thus in total an amount of Rs.31,090/- inclusive of interest for the period from 03.05.1995 till 03.06.2008 on the aforesaid amount and compensation.  The Complainant has been further awarded a sum of Rs.2,000/- by way of compensation and Rs.500/- as litigation cost.  It has further been observed therein that if the aforesaid decretal amount is not paid within 30 days from the date of communication then the same would carry interest @ 10 per cent till full realization. 

The Appellant – O.P. since did not contest the claim case either by filing any Written Version or by appearing in the proceeding before the Forum below there is no scope for the Appellant to challenge the impugned judgement and order on the basis of any material evidence and/or by disputing the facts as alleged.

In these circumstances only two points have been raised on the behalf of the Appellant – Company.  First, it has been contended that the fixed deposit of the Complainant was matured on 03.05.1998 and as such the complaint case that was filed on 10.06.2008 was barred by limitation.  We are unable to accept such contention on behalf of the Appellant.  The Complainant soon after the date of maturity of the said fixed deposit approached the Appellant – Company.  The said Company did nowhere refuse to make payment of the principal amount of the fixed deposit along with the interest.  On the other hand it transpires that the Company having been taken over by the B.I.F.R., the Complainant was asked to approach the said B.I.F.R.  The B.I.F.R. and/or official agent that was engaged for the Appellant – Company had never refused to make any payment to the Complainant at any point of time till before 18.08.2006.  Therefore, the cause of action for filing the above complaint case arose only after 18.08.2006 when the claim was lastly made by the Complainant before the Dy. General Manager, SBI, Rehabilitation and Recovery Brach, the official agent of the Appellant – Company and such claim was not satisfied thereafter.  The complaint having been filed on 10.06.2008 i.e. within the period of two years from the date on which the claim was lastly made on 18.08.2006 it cannot be said that the same was barred by limitation. 

Lastly, upon reference to the Notification No. 955/IR/O/3M-8/1998(Pt-VIII) and 956/IR/O/3M-8/1998(Pt-VIII) dated 17.06.2010 issued by the Deputy Secretary to the Government of West Bengal, Industrial Reconstruction Department it has been contended that the  Complainant is not entitled to refund of the matured value of the aforesaid fixed deposit along with accrued interest thereon from the Respondent – Company in terms of the said Notification.

Upon careful reading of the said Notifications it appears that the State Government has been pleased to declare the Appellant – Company as the relief undertaking under Section 3 of the West Bengal Relief Undertaking (Special Provision) Act, 1972.  In exercise of the power conferred under Section 4 of the aforesaid Act the Governor has further been pleased to direct “that the operation of all or any of the contracts, assurance of property, agreements, settlements, awards standing orders or other instruments in force (to which the said relief undertaking is a party or which may be applicable to any relief undertaking) immediately before the date on which the State Industrial Undertaking is declared to be a relief undertaking, shall remain suspended or that all or any of the rights, privileges, obligations and liabilities accruing or arising there under before the said date, shall remain suspended or shall be enforceable with such modifications and in such manner as may be specified in such notification, provided, however, that such suspension shall not prevent and shall be deemed not to have prevented the said relief undertaking from exercising in any way its right is to be realize or receivable from any person or organization under any such contract, assurance of property, agreement, settlement, award standing order or other instrument, during the period from 17^th June’2010 up to the 16^th December, 2010 i.e. for a period of six months”.

Upon careful reading of the aforesaid Notification we are of the view that there is no impediment to dispose of the appeal on merits in terms of the said Notification nor there is any specific restriction imposed by the said Notification to determine the amount of claim payable by the Appellant – Company to the Complainant in respect of the aforesaid fixed deposit that was made by the Complainant under Fixed Deposit Cumulative Scheme which became payable on maturity on 03.05.1998.  The said Notification, therefore, does not stand in the way of disposal of the appeal on merits.  The appeal is accordingly dismissed.