CONSUMER DISPUTES REDRESSAL COMMISSION

MAHARASHTRA STATE, MUMBAI



First Appeal no.2173/2004 Date of Filing:

Consumer Complaint No.176/2001

District Consumer Forum: Mumbai Suburban Date of Order: 15/06/2009



Mrs.Renuka Sanghvi, Appellant

207/10, C wing, Rajgruhi building, (Org.Complainant)

Kanti Nagar Jain Temple,

Off.J.B.Nagar,

Andheri(East) 400 059.

V/S.

1. Mr.Mohan Prasad, Respondents

Managing Director, (Opposite party no.1)

Four Season Farms Ltd.

Bengali Compound, Opp.BPCL complex.

Gokuldham, Goregaon,

Mumbai-400 063.

2. Mr.K.V.Mohan, (Org.Opp.Party no.2)

Director,

Four Season Farms Ltd.

Bengali Compound, Opp.BPCL complex.

Gokuldham, Goregaon,

Mumbai-400 063.

3. Mr.V.Rajgopal, (Org.Opp.Party no.3)

Director,

Four Season Farms Ltd.

Bengali Compound, Opp.BPCL complex.

Gokuldham, Goregaon,

Mumbai-400 063.



Corum : Mr.S.R.Khanzode, Hon’ble Presiding Judicial Member.

Smt.S.P.Lale, Hon’ble Member.



Present: Adv. Shri Arun Kudapkar for appellant @Smt Renuka Sanghvi.

None for respondents.



:- ORDER :-

Per Mr.S.R.Khanzode, Hon’ble Presiding Judicial Member:

1. This appeal arises out of order/award dated 21/06/2004 passed in consumer complaint no.176/2001, Mrs. Renuka Sanghvi V/s. Mr.Mohan Prasad & ors. passed by District Forum, Mumbai Suburban (Forum below in short). Appellant/complainant had made various investments in the scheme of Four Seasons Farms Ltd., a plantation company of which opp.party/respondent/

Shri Mohan Prasad is a Managing Director and while other respondents/org.opp.parties are Directors.

2. Since the opp.parties failed to refund the amount invested with assured interest, consumer complaint was filed. Forum below by impugned order allowed the complaint. However, it is the grievance of the appellant/complainant that while passing the order one investment of Rs.12,000/- was wrongly omitted and therefore, complainant filed this appeal to rectify the said omission and also claimed suitable compensation be awarded, which was not considered by the Forum below.

3. We heard Adv. Shri Arun Kudapkar for appellant @Smt Renuka Sanghvi and none for respondents. Perused the record.

4. Perusal of the record clearly shows that the Forum below erroneously omitted to include one deposit amount as per certificate No.Am Z00052. Date of said investment was 09/07/1996. Impugned order/award need to be modified to incorporate the same. We hold accordingly.

5. All the requests were awarded with agreed rate of interest @ 10% p.a.. Therefore, we find when the Forum below did not award any additional compensation on the point of alleged mental agony, it committed no mistake. It may be pointed out that the investment was made for a long term. Only in view of certain SEBI restrictions dated 03/07/1998 Four Seasons Farms Ltd. requested its investors to buy back the scheme and submit a proposal accordingly. Under these circumstances, we find no reason to take a different view than the Forum below on this count of grant of additional compensation besides interest.

6. As far as cost awarded by Forum below is concerned, same being in the discretion of Forum below and there is no patent illegality committed by Forum below. We find no reason to interfere with the same. Holding accordingly, we pass the following order:-



:-ORDER-:

1. Appeal is partly allowed.

2. Impugned order/award dated 21/06/2004 is modified.

3. After para 6 of the operative order add para 6-a as under:

“ Opp.parties are directed to pay jointly and severally an amount of Rs.12,000/- to the complainant along with interest @10% p.a. from 09/07/1996 till realisation towards refund of investment under certificate no. Am Z00052 ( two units)”.

4. Rest of the order stands confirmed.

5. Respondent to bear their cost costs of this appeal and pay Rs.5,000/- as cost to the appellant.

6. Copies of the order herein be furnished to the parties.





(S.P.Lale) (S.R.Khanzode)

Member Presiding Judicial Member