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Manipal Sowbhagya Nidhi Limited

This is a discussion on Manipal Sowbhagya Nidhi Limited within the Judgments forums, part of the General Discussions category; ORDER [Per Smt. Caroline Collasso, Member] 1. This order will dispose off application of Decree Holder under section 25 of ...

  1. #1
    Advocate.sonia's Avatar
    Advocate.sonia is offline Senior Member
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    Default Manipal Sowbhagya Nidhi Limited

    ORDER



    [Per Smt. Caroline Collasso, Member]



    1. This order will dispose off application of Decree Holder under section 25 of the Consumer Protection Act.



    2. As per order of this Commission dated 28-07-2004 the Opposite Parties were jointly and severally directed to pay to the Complainant the principal amount of the Sowbhagyalaxmi Cash Certificates, Fixed Deposits Receipts and Senior Citizens Special Deposit Scheme amounting to Rs.87,33,000/- along with interest @ specified in the terms and conditions within 30 days.



    3. The Opposite Parties were jointly and severally further directed to pay to the Complainant-Association a sum of Rs.10,000/- as cost of the litigation. This order was challenged before the Hon’ble National Commission vide order dated 09-05-2006. The Hon’ble National Commission held that they do not find any merit in the appeal and dismissed the same. The Appellants/Judgment Debtors herein were to pay to the Respondent (Decree Holders) Rs.1000/- as cost to each of the depositors who are members of Respondent/Association.



    4. The Decree Holder has submitted detailed calculations vide application dated 05-12-2008. The amount due to the creditors as on 31-11-2008 is Rs.50,37,255 (Rupees Fifty lakhs, thirty seven thousand, two hundred fifty five only).



    5. It is brought to our notice that some of the Decree Holders are already paid. The District Recovery Officer, Panaji, is thus to ascertain those Decree Holders who have received the amounts due to them and obtain from them the original fixed deposit/cash certificates and hand over the same to the Judgment Debtors.



    6. The Decree Holder has also submitted the list of properties belonging to Judgment Debtor. They are as follows:



    (i) Manipal House at Manipal Karnataka.



    (ii) Flat No.C-3, at Green Land Housing Co-operative

    Society at Panaji, Behind Military Hospital, Panaji-

    Goa.



    (iii) 1st Floor of building named Shindur, where at

    present office of Manipal Finance Group is functioning at A.B. Road, Opposite Gomant Maratha Samaj, Panaji.



    (iv) Right side of the ground floor of Shivneri Building

    at Margao behind Loyala High School, Margao-Goa.







    ORDER



    The District Recovery Officer, Panaji is hereby directed to attach the above properties to recover the decretal amount of Rs.50,37,255/-. The individual Decree Holders are to hand over the original fixed deposit/cash certificates to the District Recovery Officer at the time of receipt of individual amount. The District Recovery Officer is to hand over the same to the Judgment Debtors.





    Pronounced.



    [Sandra Vaz e Correia]

    Member







    [Caroline Collasso]

    Member

  2. #2
    carmelina is offline Junior Member
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    Default Manipal Sowdbhagya Nidhi Ltd

    Good Evening sirs,
    My name is Carmelina Rodrigues Resident of H. No. 45 Vodlem Bhatt, Taleigao
    I had invested in the mention above investing company a sum of Rs. 8000.00 (Rupees eight thousand only) on 17/07/2001. The mentioned amount has matured on 17/07/2004 with an 1nterest of 11 per cent amounting to Rs. 11030. As of today the amount is not yet returned. The investment company office in Panaji Goa is not functioning and is closed. I made several attempts to contact the company but all in vain.
    I will appriciate any assistance from your side to recover the amounts.
    Please let me know if you need any more details from my side

    Regards
    Carmelina Rodrigues

  3. #3
    Mahesh Sardesai Guest

    Default Manipal Finance Corporation

    I had invested 64000 in Manipal Fiannce with 10% interest maturing 23 Feb 2007 with maturity amount of 103040.

    Let me know if the amount is recoverable and what is your charges to handle the case.

  4. #4
    admin is offline Administrator
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    Default

    Kindly provide us your full contact details so that we can guide you accordingly.
    Regards,
    Admin,

    ** PMs asking me for support will be deleted unless I've asked you to PM me with additional details **

  5. #5
    Sureshkumar Soni Guest

    Question Manipal Finance Ltd.

    Dear Sir/Madam,

    I am Sureshkumar Soni, a resident from Gujarat. Like many others, I too have invested in the Shreyas Redeemable Debt Certificates - II , a total sum of Rs. 10,000 on the date 16/07/2001 which has matured on 16/07/2006 @ the rate of 11%. I am yet not paid by the company in liue of the same. I have referred to several similar cases on your website online. Kindly, inform me about the proceeding fo the same in consumer court and what chance do I behold to get my returns. My email id is : valaji_hemant2001@yahoo.com and phone no. is : 09925477934/09375303151. Please respond back asap.

  6. #6
    shansha is offline Junior Member
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    Default Manipal Sowbhagya Nidhi

    Hello,
    Posting this query on behalf of a group. We have invested in Manipal Sowbhagya Nidhi cash certificates which matured in 2004 - 2005 time. So far we have not got the settlement from Manipal Finance corp. We are not willing to accept the arrangement that the company is offering - i.e. 60% of the amount invested to be treated as full & final settlement. I have seen similar postings on this site & am keen to know my options & chances of success. Any help in this regard would be very appreciated. I shall share additional information as may be required. Thanks in advance.

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