MAHESH CHANDRA SHARMA vs MODERN SYNTEX (INDIA) LTD.

FEELING aggrieved by the order dismissing the appeal pased by the Rajasthan State Consumer Disputes Redressal Commission, Jaipur, the present revision has been filed by the complainant/petitioner.

THE petitioner deposited an amount of Rs. 15,000 on 9.1.1997 and an other Rs. 15,000 on 25.2.1997 with the respondent which was to be refunded with interest on 19.1.1997 and 25.2.1997, respectively. THE respondent paid the amount of interest due to the petitioner/complainant but the cheques given by them for repayment of principal amount were dishonoured. THE complainant feeling dis-satisfied filed a complaint before the District Forum, Jaipur. The District Forum, Jaipur-II dismissed the complaint holding that since the Company Law Board has framed a scheme of repayment of deposits, no orders could be passed by the Forum below.

The State Commission held that the respondent had already refunded the principal amount to the complainant and the amount of interest due upto filing of the complaint was also paid in the past. The only dispute remains to be decided was about the interest from the date of filing of the complaint till the payment of the principal amount. However, there is no dispute that the respondent filed application before the Board for Industrial and Financial Reconstruction (BIFR) and an inquiry was pending there.

IN the aforesaid circumstances, the learned State Commission took the view that after the completion of the inquiry by BIFR, the distribution of the proceeds of the sale of the assets of a Company being wound up could only be under the supervision of the Company Court and relied upon the judgment RFC v. Official Liquidator & Anr., VII (2005) SLT 74=(2005) 8 SCC 190 and as such, in the aforesaid circumstances the award of further interest to the complainant by the learned State Commission was not called for and appeal was accordingly dismissed. Seeing the aforesaid circumstances and the fact that this Commission is not supposed to interfere in orders of this kind and the dispute relating only to interest, we think that there is neither any lacunae nor any error in the order passed by the learned State Commission to justify our interference. The revision has got no force and it is dismissed accordingly. Revision Petition dismissed.