Punjab

Sangrur

CC/279/2017

Manjit Singh - Complainant(s)

Versus

Unique Multifood Industries Limited - Opp.Party(s)

Sh. Rahul Sharma

21 Dec 2017

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR

                            

                                                                        Complaint No. 279

Instituted on:   13.06.2017

                                                                        Decided on:     21.12.2017

 

Manjit Singh son of Balwant Singh, resident of Village Shamaspura, Tehsil Samrala, District Ludhiana.

                                                        …. Complainant.      

                                         Versus

1.     Unique Multifoods Industries Limited, Regd. Office Punjabi Bagh, PS+PO Lehra, District Sangrur through its MD, Director Subhash Chander Sharma, Rajinder Singh and Malkinder Singh.

2.     Director Subhash Chander Sharma, MD Unique Multifoods Industries Limited (DIN/DPIN-034469031), H.No. 786, Punjabi Mohalla, Near Ganesh Mandir, Babyal Ambala Cantt.

3.     Malkinder Singh, Director, Unique Multifoods Industries Limited (DIN/DPIN/PAN-074075491), resident of Chakki Wali Gali, Tarn Taran Road, Opp. Ghughi Kawaria, Kot Mit Singh, Amritsar-143022.

             ….Opposite parties.

 

FOR THE COMPLAINANT:     Shri Rahul Sharma, Advocate                          

 

FOR OPP. PARTIES NO.1&3:            Exparte.

 

For OP NO.2                          :             Shri S.R.Bansal,Adv.         

 

Quorum

         

                   Sukhpal Singh Gill, President

                   Sarita Garg, Member

          ORDER:  

 

Sukhpal Singh Gill, President

 

1.             Shri Manjit Singh, complainant (referred to as complainant in short) has preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that on the request of Ops, the complainant availed the services of the OPs by purchasing 2500 debentures having a value of Rs.100/- each vide certificate number 11446481 to 11448980.  Further the complainant purchased 2500 debentures of each of Rs.100/- and the Ops issued a certificate bearing number 11221051 to 11223550 and further purchased 2500 debentures of each of value of Rs.100/- vide certificate number 11462981 to 11465480 on 30.6.2015 for the period of 18 months, which were to mature on 31.1.2017. It is further averred that in this way the complainant invested an amount of Rs.7,50,000/- in total and the Ops were to pay interest @ 12% per annum on monthly basis on the amount of debentures, but when the same was not paid, the complainant applied for refund of the amount, but all in vain. Thus, alleging deficiency in service on the part of OPs, the complainant has prayed that the Ops be directed to release the payment of Rs.7,50,000/- along with interest @ 12% per annum and further claimed compensation and litigation expenses.

 

2.             Record shows that the Ops failed to appear despite service, as such, they were proceeded against exparte. Though, the OP number 2 appeared through his counsel Shri S.R.Bansal, Adv., who was allowed to join the proceedings at later stage.

 

3.             The complainant has tendered documents Ex.C-1 to Ex.C-17 copies of the documents and affidavit and closed evidence. On the other hand, the learned counsel for OP number 2 has produced Ex.OP2/1 to Ex.OP2/7 documents and affidavit and closed evidence.

 

4.             We have very carefully perused the pleadings of the parties, evidence produced on the file and heard the arguments of the learned counsel for the parties. In our opinion, the complaint merits acceptance, for these reasons.

 

5.             From the perusal of documents placed on the file and after hearing the arguments of the learned counsel for the complainant, we find that the complainant had invested an amount of Rs.7,50,000/- in the shape of purchase of 7500 debentures, as is evident from the copies of the debenture certificates on record as Ex.C-11, Ex.C-15 and Ex.C-16 with redemption date as 31.1.2017,  but the grievance of the complainant is that the said amount has not been paid despite the fact the redemption date i.e. 31.1.2017 has already elapsed and the complainant approached the Ops so many times for the payment.  Ex.C-1 is the sworn affidavit of the complainant to support her contention in the complaint.  Ex.C-7 is the copy of legal notice served upon the Ops, whereas Ex.C-8 to Ex.C-10 are the copies of the postal receipts.   On the other hand, the Ops have not filed any reply to the complaint to deny the allegations in the complaint. However, OP number 2 appeared through his counsel and joined the proceedings at the later stage and produced evidence, but a bare perusal of it shows that it is not at all helpful to the case of the OP number 2.  Moreover, the fact remains that OP number 1 i.e. company took the amount of Rs.7,50,000/- from the complainant in the shape of debentures as discussed above, but the same has not been refunded/paid back to the complainant.  As such, we are of the considered opinion that the OP number 1 is duty bound to return the amount to the complainant and by not doing so  the OP number 1 is deficient in rendering service to the complainant.

 

6.             So, in view of our above discussion, we allow the complaint of the complainant and direct the OP number 1 to make the payment of Rs.7,50,000/- to the complainant along with interest @ 9% per annum from the date of deposit i.e. 30.6.2015 till realization in full. We further order the OP number 1 to pay to the complainant a sum of Rs.10,000/- on account of compensation and further Rs.5,000/- as litigation expenses.

 

7.             This order of ours shall be complied with within a period of 30 days from the date of receipt of copy of this order.  A copy of the order be supplied to the parties free of charge. File be consigned to records in due course.       

Pronounced.

 

                December 21, 2017.

 

 

                                                        (Sukhpal Singh Gill)

                                                                President

 

 

 

                                               

                                                             (Sarita Garg)

                                                                 Member