Karnataka - Bangalore   

Viniv Inc: State told to act on forum’s order

BANGALORE: The Karnataka High Court on Thursday came to the rescue of several depositors of Viniv Inc, a chit fund firm which went bust, and directed the State Government to take appropriate action to ensure that the depositors were paid back the money they had invested in the firm.

The court said although the Karnataka State Consumer Disputes Redressal Forum had directed the jurisdictional Deputy Commissioner to seize the property of Viniv Inc and pay the depositors, the deputy commissioners had not acted on the order.

The petitioners, N. Sreekanteshwaran of V.V. Puram in Bangalore and 33 others had complained to the court that the deputy commissioners had not obeyed the order of the Consumer Forum. The petitioners said they had filed complaints before the First Additional Consumer Forum in Bangalore against Viniv Inc which came to be allowed. The company and one of its directors were asked to make payments to the petitioners along with interest at the rate of 12 per cent per annum from the date of filing the complaint.

They said when the deputy commissioners did not act upon the forum order, they filed an execution petition. The forum allowed the execution petition and issued a certificate under Section 25 (3) of the Consumer Protection Act to the deputy commissioners asking them to recover the money from Viniv Inc and one of its directors. The State contended that there were so many depositors who had lost money that it was difficult to pay only a few of them. It said it had already directed the jurisdictional deputy commissioners to take note of the forum order and seize the property. Allowing their petitions, Justice K. Bhaktavatsala directed the deputy commissioners to consider the representation of the petitioners in pursuance of the certificate issued by the forum.

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