Accrescent Way Marketing Pvt Ltd ... vs Smt Alpana Dutta And 36 Ors
2022 Latest Caselaw 4568 Gua

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GAHC010168542016




                              THE GAUHATI HIGH COURT
     (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)

                                   Case No. : FAO/4/2016

            ACCRESCENT WAY MARKETING PVT LTD and 2 ORS
            A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS
            REGISTERED OFFICE AT GANESH BHAWAN, 2ND FLOOR, P.P. ROAD,
            REHABARI, GUWAHATI-8, ASSAM, REPRESENTED BY ITS DIRECTOR
            TAPAS DEBNATH



            VERSUS

            SMT ALPANA DUTTA and 36 ORS
            W/O SRI PARITOSH DUTTA, R/O BHAIRAB NAGAR TILLA, P.O. TEZPUR,
            MOUZA MAHABHAIRAB, DIST. SONITPUR, ASSAM, PIN NO. 784001



Advocate for the Petitioner   : MR G P BHOWMIK

Advocate for the Respondent : MR. P D NAIR (R1-R37)




                                    BEFORE
                    HONOURABLE MR. JUSTICE KALYAN RAI SURANA

                                         ORDER

Date : 18-11-2022

Heard Mr. G. Saikia, learned counsel for the applicants and Mr. G. Alam, learned counsel for the opposite parties.

2. This appeal under Order XLIII Rule 1(q) CPC is directed against the Page No.# 2/4

order dated 06.07.2015 passed by the learned Civil Judge, Sonitpur, Tezpur in Misc.(J) case no.13/2011 in MS 12/2011. By the said order the said learned Court in exercise of power in jurisdiction under Order XXXVIII Rule 5 CPC has attached balance lying in the accounts of: (1) A/c no.722010200000392 of Axis Bank, Noonmati, (2) A/c no.722010200000055 of Axis Bank, Noonmati, (3) A/c no.72201020000338 of Axis Bank, Noonmati and (4) A/c no.30322584577 of State Bank of India, Vinobanagar Branch.

3. It appears that in guise of direct marketing business, the appellant no.1, i.e. Accrescent Way Marketing Pvt. Ltd., had carried on a business which is more commonly referred to as "Ponzi schemes", whereby the members were inducted by the petitioner no.1 company and a large sum of money was collected from the 78 original plaintiffs in the suit and others. Accordingly, a money suit was filed by the 78 plaintiffs, seeking recovery of money deposited by them with the petitioner no.1 company. It has been projected that the plaintiffs had claimed around Rs.7.00 crores from the petitioners. It is also submitted that in course of time several of the plaintiffs had abandoned prosecuting the petitioners and accordingly, only 37 respondents are now left contesting the matter.

4. It appears that the respondents found out that the appellants had some money lying in their bank account and therefore, they had approached the learned trial Court with an application under Order XXXVIII Rule 5 CPC for attachment before judgment of the balance in the said accounts.

5. From the contents of the IA(C) 3173/2022, it appears that in the Page No.# 3/4

hereinbefore referred four bank accounts a total sum of Rs.57,40,121.39 is lying. It may be mentioned that by an order passed today in the said interlocutory application, this Court had permitted the said amount to be converted into fixed deposit accounts bearing interest. However, without otherwise interfering with the order of attachment passed by the learned trial Court.

6. Having regard to the nature of grievance raised by the respondents and others, who had abandoned to prosecute the suit, it prima facie appears to the Court that the respondents have been able to demonstrate that the amounts were collected in violation of the provision of Prize Chits and Money Circulation Schemes (Banning) Act, 1978. Under such circumstances, the Court is not inclined to interfere with the order of attachment passed by the impugned order as the said order does not suffer from any illegality or perversity.

7. Accordingly, by reiterating that this Court by order passed in IA(C) 3173/2022 has partially modified the order of the learned trial Court by directing that the proceeds of these four bank accounts be converted into fixed deposit accounts bearing interest, and has maintained the order of attachment passed by the learned Civil Judge, Sonitpur, Tezpur, the Court is not inclined to interfere with the impugned order dated 06.07.2015 passed by the learned Civil Judge, Sonitpur, Tezpur in Misc.(J) case no.13/2011.

8. Accordingly, this application stands dismissed with the said partial modification as indicated above.

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9. It is submitted that the suit is pending for disposal since year 2011. It is also submitted that till date issues have not been framed. Under such circumstances the Court permits both sides to move the learned trial Court for expeditious disposal of the suit.

10. On observing that the suit of 2011 is still at the stage of framing issues, the Court hopes and trusts that all effort would be made by the learned trial Court to try this suit expeditiously. The learned Civil Judge, Sonitpur, Tezpur shall flag the proceedings of the Money Suit no.12/2011 for expeditious disposal.

11. This appeal stands disposed of.

JUDGE

Comparing Assistant