Order No. 6 dt. 20/01/2020
The case of the complainant in brief is that complainant deposited an amount of Rs.10,000/- on 17.11.2008 to M/s Alchemist Holdings Ltd ( op-1) as application money for allotment of 1000 no. of preference share having face value of Rs. 10/- each as private placement to the applicant . Op-company allowed the prayer of the complainant and allotted 1000 numbers of redeemable preference shares scheduled to be redeemed on 10.11.2017 with maturity amount of Rs30,000/- by issuing a certificate no.386988 against registered folio no. H0386988. After completion of more than 10 years complainant sent the prayer of redemption of the share certificate on 04.05.2019 for its redemption . Thereafter, complainant repeatedly attempted to approach the o.p. for payment of the said amount but o.p. was not available for getting the matured amount . OPs did not respond to the call of the complainant Finding no other alternative complainant filed this case praying direction upon the o.ps for payment of the money of Rs.30,000/- along with compensation of Rs20,000/-for harassment and mental agony, and litigation cost.
PR & TR shows that notices could not have been served upon the ops. Ops were serviced through publication of notice in the daily newspaper but they did not contest this case by filing w/v . As such, the case has been proceeded exparte against the o.ps
In order to prove the case the complainant sworn an affidavit of evidence in support of the contention of the complaint and filed the documents in support of his claim including the photocopies of certificate of allotment issued by the o.p-company. Due to unchallenged testimony of the complaint there is no scope to disbelieve the submission of the complainant and therefore it should be accepted and necessary order is to be passed accordingly.
Considering the submissions of the complainant deposited an amount of Rs.10,000/- on 17.11.2008 to M/s Alchemist Holdings Ltd ( op-1) as application money for allotment of 1000 no. of preference share having face value of Rs. 10/- each as private placement to the applicant . Op-company allowed the prayer of the complainant and allotted 1000 numbers of redeemable preference shares scheduled to be redeemed on 10.11.2017 with maturity amount of Rs30,000/- by issuing a certificate no.386988 against registered folio no. H0386988. After completion of more than 10 years complainant sent the prayer of redemption of the share certificate on 04.05.2019 for its redemption . Thereafter, complainant repeatedly attempted to approach the o.p. for payment of the said amount but o.p. was not available for getting the matured amount . OPs did not respond to the call of the complainant. Finding no other alternative complainant filed this case. Even after of expiry of the said time period the assured amount had not been paid by the o.p. in spite of repeated attempts by the complainant. On the basis of the said evidences on record which uphold that there was deficiency in service on the part of the op-company and since no challenge has been made by o.ps. to controvert the demand of the complainant we, therefore, have no other alternative but to accept the case of the complainant.
Hence, it is ordered.
that the case no. 255/2019 is allowed ex-parte with cost against the o.ps. The o.ps are jointly and/ or severally directed to pay a sum of Rs.30,000/-(Rupees Thirty Thousand) only to the complainant along with compensation of Rs.3,000/- (Rupees Three Thousand) only for harassment and mental agony and litigation cost of Rs.3,000/- (Rupees Three Thousand) within 30 days from the date of communication of this order, i.d. an interest @ 8% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.
