Order No. 12 dt. 04/05/2017
The case of the complainant in brief is that one Agro Bond having serial nos. A/06/11/015154, the maturity of which were on 30.06.2014 - had been purchased by Sri Sujoy Saha, here in the complainant, from M/s MPS Greenery Developers Ltd. (o.p.no.1) MPS Enclave,Commercial Building, Vill-Dahisole, P.O-Dahijpuri,West Dinajpur, Pin-721504. Immediately before maturity( maturity value Rs519402/-) the complainant submitted the Bond with necessary documents against receipts for encashment of the same on due date. But no payment was made in his favour in due time and the complainant in turn wrote a letter of request to the Director, MPS Greenery Developers Ltd. to release the payment without further delay. Thereafter, complainant made several correspondents to have his earned money by liquidating the Agro Bond but achieved no fruitful result. Ultimately he lodged this complaint on 17.04.15 after waiting nine months against the three o.ps including the o.p.no.2 M/s MPS Greenery Developers Ltd., Unit office – 15A Fern Road, Ballygunge, P.S. Gariahat, Kolkata-700 019.
The complainant has argued that he was the bonafide purchaser of the agro bond and was entitled to get the entire matured value of the said bond on due date. He prayed for direction upon the o.p. to pay Rs.519402/-/- by cash or demand draft as matured value, Rs.100,000/- for compensation and Rs.100,000/- as litigation cost.
On the basis of the pleading of the parties the following points are to be decided:
- Whether there was deficiency in service on the part of the o.ps;
- Whether the complainant will be entitled to get the relief as prayed for.
Decision with reasons
All points are taken up together for the sake of brevity and avoidance of repetition of facts.
In order to prove the case the complainant adduced evidence and filed documents against which there is no objection as the case has proceeded exparte against O.Ps. Due to unchallenged testimony we have nothing to disbelieve the documents adduced by the complainant. There is no points to dishonour the submission for encashment of the agro bond.
Considering the submission it is evident that the complainant is entitled to get the relief as ordered hereunder.
Hence, ordered,
That the CC No.172/2015 is allowed on contest with cost against the o.ps. O.ps are directed jointly and or severally to pay Rs.519402/- as maturity value with interest @ 10% from the date of maturity till the actual date of payment of the maturity value and compensation of Rs.50,000/- and litigation cost of Rs.5,000/- within 30 days from the date of communication of this order, i.d. an interest @ 10% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.
Supply certified copy of this order to the parties free of cost.
