Order No. 8 dt. 23/10/2019
The case of the complainant in brief is that the complainant made five applications on different dates in the year 2013, 2014 & 2016 with M/s Alchemist Township India Ltd expressing interest to acquire plot/villa/apartment in the housing project at Park Avenue, Talwandi Bhai , Tehsil – Zeera, Dist- Firozpur, Punjab. Accordingly five certificates of property with different dates of maturities had been issued by the o.p. in favour of the complainants, which are depicted in the following table.
Certificate No. Customer ID | Date of Deposit | Maturity Amount | Date of Maturity |
1 | 2 | 3 | 4 |
TA00150532 TYY0089189 | 02.03.2016 | 1,10,000/- | 02.03.2019 |
TA01448806 TYY0020909 | 22.11.2013 | 50,000/- | 22.11.2016 |
TA01448768 TYY0020906 | 22.11.2013 | 1,00,000/- | 22.11.2016 |
TA05275331 TYY0031411 | 22.02.2014 | 1,20,000/- | 22.02.2017 |
RE03154156 RX00024490 | 30.03.2012 | 1,10,000/- | 30.03.2015 |
In the event of non-allotment of plot/villa/ apartment the customer was entitled to get an amount of Rs 4,90,000/-together with compensation depending upon the appreciation of the real estate value of the properties in each case. Complainant also invested in five fixed deposits with M/s. Alchemist Infra Realty Ltd., a sister concern of M/s. Alchemist Township India Ltd. for different periods mostly for 72 months periods, the maturities of which ended within 07.02.2019.The total maturity value of the fixed deposits/debentures is Rs3,30,000/-& the description of the certificates are depicted in the following table.
Certificate No. Customer ID | Date of Deposit | Period (In months) | Amount Deposit | Maturity Amount | Date of Maturity |
1 | 2 | 3 | 4 | 5 | 6 |
RE04032457 RE00408136 | 07.02.2013 | 72 | 20,000/- | 40,000/- | 07.02.2019 |
RE03314533 REE0108192 | 14.07.2012 | 72 | 30,000/- | 60,000/- | 14.07.2018 |
RE01233139 RDD0261571 | 02.08.2011 | 72 | 40,000/- | 80,000/- | 02.08.2017 |
RCO1483022 RC00335714 | 06.07.2010 | 72 | 15,000/- | 30,000/- | 06.07.2016 |
TA00227971 TLL0245708 | 28.08.2013 | 66 | 60,000/- | 1,20,000/- | 07.02.2019 |
After expiry of the periods in each case complainant repeatedly requested the o.p. for payment of the appreciated amount by issuing letters but o.p. did not respond to the demand of the complainant.
Finding no other alternative complainant filed this case praying for direction upon the o.p for payment of Rs 8,20,000/-being the matured value of the assured certificates and with compensation of Rs. 1,00,000/- and litigation cost, if it is considered.
PRs & TRs show that notices could not have been served upon all the o.ps of M/s Alchemist Infra Realty Ltd & M/s. Alchemist Township India Ltd. Therefore, complainant issued notice in the daily newspaper, Ajkal Patrika. In spite of communicating the notice through different means o.p.s did not contest this case by filing w/v . As such, the case has been proceeded exparte against 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 their claim including the photocopies of certificates issued by op against deposits. 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 and on perusal of the materials on record we find that the complainant invested different amount, both in M/s Alchemist Infra Realty Ltd. & M/s. Alchemist Township India Ltd., the matured value of which would be Rs.8,20,000/-. It is also evident that complainant made the applications on different dates with M/s Alchemist Township India Ltd expressing interest to acquire plot/villa/apartment in the housing project at Park Avenue, Talwandi Bhai , Tehsil – Zeera, Dist- Firozpur, Punjab and the ops issued certificates against each applications. Complainant made investment in debenture also. But ops did not fulfill their assurance in time. Ops did not made any payment in respect of the fixed deposits/ real estates. After expiry of the different dates of maturity complainant repeatedly requested the o.p.s for payment of the said amount by issuing letters but o.p. did not respond to the demand of the complainant. On the basis of the said evidences on record and since no challenge has been made by o.p. to controvert the demand of the complainant we, therefore, have no other alternative but to accept the case of the complainant. Thus the case is disposed of accordingly.
Hence, it is ordered
That the case no. 132/2019 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.8,20,000/-(Rupee Eight Lakh and Twenty Thousand) only to the complainants along with compensation of Rs.40,000/- (Rupees Forty Thousand) only for harassment and mental agony and litigation cost of Rs.4,000/-( Rupees Four Thousand) only 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.
