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Point of no return
I deposited Rs 5,731 in a
fixed deposit scheme of I.F.B. Finance Ltd. On maturity,
I returned the certificate on May 12, 1999 to its registered
office. Despite fulfiling the formalities, no payment has
been made to me to date. I got in touch with the office
on several occasions but failed to get any satisfactory
answer as to when the maturity amount will be paid to me.
What is my remedy? Please advise.
Rakesh Kumar Roy,
161/2, Parnasree,
Calcutta 700060
The expert: The
circumstances clearly show a deficiency in service on the
part of the company. But prior to initiating a proceeding
before the consumer forum, please ascertain the present
status of the company from the Company Affairs Department,
government of India. The company may have, in the meantime,
obtained an ex-parte order from the Company Law Board. But
if it appears that the company is in liquidation, you will
have to lay your claim before the official liquidator for
relief and redress.
Undue harassment
My wife and I had invested
? Rs 5,000 and Rs 4,000 ? in a fixed deposit scheme of Medinova
Diagnostics Services Ltd. Once the scheme matured on January
19, 2003, I deposited the membership deposit receipts on
October 23, 2002 at the company’s Calcutta office.
Since then, the company has been promising to pay me the
due amount. Three years have passed and every time I meet
the company official he assures me that the company’s
financial condition is likely to stabilise soon. Unfortunately,
I haven’t received any payment to date. Please advise.
J.C. Sengupta,
392, Parnashri Pally,
Calcutta 700060
The expert: Medinova
has for long been indulging in this sort of round dealings
with almost every consumer. Non-payment of the maturity
amount clearly speaks of a deficiency in service on the
part of the company. Besides, making false promises also
reflects an unfair trade practice by the company. Thus it
is a fit case where the matter can be placed before the
consumer forum, claiming not only the interest on the sum
? on contractual rates ? but also adequate compensation
for the harassment caused by the company.
Eternal wait
I had invested Rs 39,236, Rs
21,705 and Rs 12,746 in three fixed deposit schemes with
the Delhi-based company, Escorts Finance Ltd. The schemes
matured on June 6, 2005, December 1, 2005 and January 28,
2006, respectively. But, to date, the company has not made
any payment to me. In fact, I have written several letters
but to no avail. What do I do now?
Rakhi Saha,
Dhubri, Assam
The expert: Non-payment
of the maturity amount is a clear case of a deficiency in
service and the complainant can initiate a proceeding against
the company in the consumer forum which has the jurisdiction
to try, adjudicate and to deal with the complaint. However,
prior to taking such a step the complainant should find
out about the present status of the company from the government’s
Company Affairs Department.
If the company is in liquidation,
a claim will have to be lodged before the official liquidator,
appointed by the high court in the liquidation proceeding.
Credit card woes
I am 66 years old and have
not had any income since April 2004. A Standard Chartered
Bank’s (SBI) credit card holder, when the bank sent
me a false bill of about Rs 3,000, I felt that the bank’s
credit card section was trying to indulge in round dealings
with me. So I stopped making payments from May 2004.
Finally, I wanted to close
my credit card account after clearing the “correct”
payable amount. Having received no satisfactory response
to my letters and e-mails, and tired of the threatening
phone calls made by the bank, I approached the consumer
court in June 2005. The case is dragging on.
On the other hand, on October
20, 2005, perturbed and worried by the threatening calls
from the bank, I sent a complaint to the police commissioner
with a copy to the officer in charge of Lake Police Station,
but to no avail. I had referred the matter to the joint
director, consumer affairs and fair business practice, on
October 24, 2005, which was forwarded to the assistant director
on November 9, 2005. There have been no fresh developments
to date.
I have already spent about
Rs 4,200 and suffered enough harassment in my attempt to
protest against a case of false billing. I wish to pay my
dues to the bank and close the case, provided it sends me
the correct statement as on April/May 2004. Please advise.
Capt. M.K.B. Pillai
(R),
178/A, Kankulia Road,
Calcutta 700029
The expert: Since
you’ve already taken recourse to law by filing a case
before a competent judicial forum, please be patient. I
am certain the case will be disposed of shortly.
Claiming the dues
I — jointly with my
family — held 20 (19.5 per cent) secured redeemable
NCDs of Rs 1,000 each of DCM Ltd. After due endorsement,
I forwarded them to DCM Ltd in June 1998 for payment on
maturity in August 1998. Subsequently, as required by DCM,
annexure III and form no 15F were forwarded on October 27,
1998 and November 5, 1999 respectively. The company has
also recorded my change of address on December 23, 1999.
But to date, I have not received any payment. I seek assistance
for realisation of the full amount.
T.K. Kar,
Lake Gardens, Calcutta 700045
The expert: Non-payment of the fixed deposit
amount on maturity amounts to a deficiency in service on
the company’s part. In the present case, DCM Ltd ought
to have paid the amount to the complainant, immediately
after maturity. Since the complainant had not taken any
steps at that point of time, it is advisable that the complainant
should now enquire about the present status of the company
from the Company Affairs Department. If it transpires that
the company is in liquidation, then the complainant will
have to lay his claim before the official liquidator, appointed
by the high court.
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