Record is put up before this Forum for passing order in connection with the petition filed by the Judgement Debtors (J.Drs) praying for staying the operation of order of issue of warrant against one Manoranjan Roy, alleged Director of Pincon Group of Greengage Products, Purba Medinipur.
Now facts of the case is very well known to everyone that a lot of people of District Purba Medinipur deposited money with the Pincon Group of Greengage Products, Purba Medinipur and LRN Finance Limited, Purba Medinipur but after the maturity period is over the aforesaid Companies are not paying /refunding either the maturity value or the interest to the investors. On the date of hearing investors came to the Forum and starts crying before this Forum as if Forum will refund them money from the fund of Forum. In E.A 90/17 and other twenty nine case records J. Dr. files petition that they are taking steps for a settlement and they will pay the principle amount. Accordingly in some cases they are paying money part by part but no doubt very small amount. Hence, Ld. Lawyer for the decree holders took help of Section 27 of the Consumer Protection Act 1986 and prayed for issue of W/A against all the Directors of Pincon Group of Greenage Products. Accordingly warrant was issued against the Director of the Co. for noncompliance of the orders of refunding money to the individual investors. In some cases they are complying also. Suddenly ld. advocate for the J.Dr. filed a petition stating that Pincon Group of Greengage Food Products has gone into liquidation. This Forum is very much aware that if Company goes into liquidation, this Forum lost its jurisdiction to interfere. But the submission of the ld. Advocate for the J. Dr. was not very strong. Keeping in mind about the law of the land that the Executing Court cannot go behind the decree unless it is shown that it is passed by a Court having inherent lack of jurisdiction which would make it nullity. So, this Forum being the Executing Forum issued W/A against all the J. Drs.
Now ld. lawyer for the J. Dr. Manoranjan Roy submitted an order of the Hon’ble Court passed in CO No 2216/2017 staying all further proceeding in Execution Case No 68 of 2017 and CC No 218/20167. Accordingly it has been stayed.
But in all other Execution Cases, ld. lawyer submitted that one Manroanjan Roy was not Director of Pincon Group of Greengage Products Ltd, but Pincon Spirit Ltd, Kolkata.
I have carefully gone through the Executive Summary of the Pincon Groups Board of Directors, Pincon Group Initiation Portfolio.
From all the books submitted by the Decree Holder, it appears that Sri Manoranjan Roy was the Director of LRN Finance Ltd and Pincon Spirit and it is also understood from reading those books that Manoranjan Roy hailed from Midnapure District, now Purba Medinipur and he is an efficient businessman. So, according to the order of Hon’ble Court further proceeding of Execution Case no 68 of 2017 be stayed. In other cases J. Drs. are directed to file document in all cases to show that the assets of Pincon Group of Greengage Food Products have gone into liquidation. As ld. lawyer for the LRN Finance Ltd is agreeable to pay decreetal amount part by part, JDr of LRN Finance Ltd. is directed to pay the decretal amount part by part. Investors in all Execution Cases are given liberty to agitate their grievance before the Hon’ble Court. All the M.A. petitions be disposed of on contest with the above observations and with leave to both the parties to file Appeal/Revision against this order.
To 11.09.2017 for further order whether warrant will be recalled against the J. Drs.
At this stage police will not take any action against the JDrs of Greenage Food Products Ltd.
Sd/- Sd/-
Member President
Later:
Complainant is present. In view of order passed by Hon’ble Justice Sri Sanjeeb Banerjee, the case be dismissed against the OPs.
