Delhi

New Delhi

EA/328/2009

Raj Kumar Sethi - Complainant(s)

Versus

M/S. Sterline Industries (India) Ltd. - Opp.Party(s)

20 Nov 2019

ORDER

 

 

            CONSUMER DISPUTES REDRESSAL FORUM-VI

             (DISTT. NEW DELHI),

                      ‘M’ BLOCK, 1^STFLOOR, VIKAS BHAWAN, I.P.ESTATE,

                                                           NEW DELHI-110001

 

            EA/328/2009                                                                                      Dated :

 

            Sh. Raj Kumar Sethi (Deceased)

            Through His Legal Heirs

            Sh. Ashok Kumar Sethi,

            A52 , Seema Apartments

            Plot No. 7, Sector- II , Dwarka

            New Delhi – 1100075

 

 ……Decree Holder

        Versus

M/s Sterline Industries ( India ) Ltd.

Flat no. 604, Tolstoy House ,

Tolstoy Marg.

New Delhi – 110001

II nd Address

Sipcot Industries Complex,

Maurai  By pass Road

Tvpuram

Tuticorin – 628 002                                                      …….Judgment Debtor

 

            ARUN KUMAR ARYA - PRESIDENT

                                                                           ORDER

 

The present Execution Petition has been filed for implementation of the following final orders dated 02-01-2008 passed by the predecessor bench of this Forum. It is stated by the decree holder  that the decree holder was entitled  to the dividend  for the year 1994-95, 1995-96, 1996-97, 1999-2000 and 2000-2001 which comes to Rs. 14,346.06/-. Further it is stated that non compliance of the said order the Judgment Debtor has not issued the share certificate  of 11 shares.  The OP was required to allot and deliver 159 shares of Sterlite India Ltd and 10 balance shares of sterlite Optical  Ltd. to the decree holder to which he became entitled  in the year 2000 on demerger of the OP company. It is also stated that the OP has to pay Rs. 445/-  with 18 % per annum interest from 1991 onwards which works out to Rs. 1822.94/- paise . Rs. 10,000/- has been directed to be given to the decree holder on account of mental agony, harassment and deficiency beside Rs. 3,000/- the cost of litigation. In the prayer clause, It is stated that the amount of Rs. 27,346.06/- may be directed to  recover by the attachment of the JD’s bank account.

The JD after notice filed objections  and stated that the compliance  of the orders  passed by this Forum has already been  made and as such the execution  petition is liable to be dismissed. The compliance has been filed  by way of affidavit  of the company secretary  and the authorized signatory  of the JD company.

As per affidavit in Compliance dated 02/01/2008 and 10/04/2012, the details of dividend for a particular year, shares, face value, amount  and D.D. NO. are numerated in the mentioned table. The dividend was payable on these 159 shares  of Sterlite Industries upto 2000-2001 but after the purchase of 128 shares by the JD  company under the duly apporoved and sanctioned scheme of 2002,  the complainant had only 31 shares wherein the dividend was payable on these 31 equity shares. It was stated by the JD company that  the dividends  had already dispatched for the financial year 1994-95, 1995-96, 1998-99, 1999-2000 and 2000-2001. The JD company had earlier  deposited a cheque no. 153954 dated 13/01/2010 for an amount of Rs. 18199/- to the complainant on various things

• Rs. 4642.50/- for the dividend of Sterlite Industries (India) Limited
• Rs. 556.50/- for the dividend of Sterlite Technologies  Limited.
• Rs. 10,000/- for the compensation towards  mental agony
• Rs. 3000/- for litigation cost.

It was also stated by the JD that a total of 31 shares  were not received  by the complainant and 1240 shares  having face value of Re. 1/- each  had been transmitted  in the favour of Mr. Ashok  Kumar Sethi on 23.05.2011. It was stated that 159 equity shares of Sterlite  Optical Technologies Ltd had become 795 shares  of Sterlite Technologies Ltd having face value of Rs. 2/- which  was a separate  and distinct legal entity and the son of the deceased complainant be advised to approach Sterlite Technologies Ltd. It was also stated that  both the installments of non convertible portion under part C for Rs. 445/- and 397 stood encashed by the complainant.

The decree holder has filed written submissions mentioning about the non compliance  of the final order .

Both the parties  addressed oral arguments.

We have given due consideration to the material placed before us and the submissions made by the parties with relevant provisions of law.

The arguments  on behalf of DH  that there has been non- compliance  on the part of the JD  is based on the consequential  benefits  allegedly accrued  for such default  on the part of JD. This Forum  is of the considered view  that the entire arguments  of the DH quantified recoverable amount to more than 2.6 lacs.

The execution petition however filed for the recoverable amount of Rs. 27346.06 and the arguments of the DH are therefore, not in tune with the prayer made in the execution petition and as such which are beyond the scope of execution. In case the contentions of the DH are taken into account  the same shall tantamount  to revisit and recall the final orders dated 02-01-2008  which is impermissible in law. The execution petition is therefore disposed off as satisfied.

Copy of the order may be forwarded to the parties to the case  free of cost  as statutorily required. 

 Announced in open Forum on 20/11/2019.

 The orders be uploaded on www.confonet.nic.in

               File be consigned to record room.

 

 

                                                             (ARUN KUMAR ARYA)

                                                                       PRESIDENT

 

               (NIPUR CHANDNA)                                                               (HM VYAS)

                      MEMBER                                                                             MEMBER