ROSE VALLEY GROUP OF COMPANIES Vs. SANTANU MANDAL

JUDGEMENT

(1.) THE present Appeal has been directed against the Judgment and Order dated 3.1.2008 passed by the learned South 24 Parganas District Consumer Forum in C.C. Case No. 243 of 2006 wherein the learned District Forum disposed of the case in favour of the complainant thereby granting an entitlement in favour of the petitioner to get interest @ 10% p.a. from the date of non -payment of the amount fixed for payment till recovery upon the complainant s furnishing a fresh account of the interest payable to him by the O.Ps.

(2.) THE complainant s case before the Ld. District Forum, in brief, was that the complainant invested to the tune of Rs. 1,27,000 towards purchase of Redeemable Non -convertible Debentures from the OP No. 1 at the instance of other O.Ps. According to the complainant, at the instance of the O.Ps. there was delayed payment for which necessary interest, which was due to the complainant, was not paid to the complainant. The complainant requested the O.Ps. to make delayed payment interest at the contractual rate, but the O.Ps. did not accede to such prayer and hence, the petition of complaint.

(3.) THE O.Ps. contested the case by filing written objection contending inter alia that the complainant was not a consumer as per provisions of Consumer Protection Act; that the debentures do not come under the purview of goods as defined under the Consumer Protection Act and also that the Consumer Courts do not have proper jurisdiction to entertain the complaint and thus the same is liable to be set aside.