According to the complainant this case has been filed u/s- 12 of the C.P. Act, 1986 with an allegation that he purchased a fixed deposit certificate from the O.P bank from the month of August, 1998 under name Special Term Deposit Receipt bearing No. SD/A41 674921 amounting to Rs. 10,000/-. The maturity date was 10/08/2005 and the matured value was Rs. 22,114/-. The complainant deposited the said term deposit certificate to the N.F. Railway as security and after completion of the said construction work the N.F. Railway returned the said term deposit certificate to the complainant and the complainant deposited the same to the O.P bank for encashment in the year 2005. But in the year 2006 /2007 the complainant noticed that the mature amount has not been credited in his account and he visited the O.P branch on several occasions and the O.P bank took time one after another. An ultimately, finding no other alternative, on 12/9/2016 the complainant submitted a written representation to the O.P but O.P did not pay heed to that representation. At present that is on the date of cause of action the mature amount was Rs. 1,05,000/- who is the complainant received the information from the O.P but the O.P has not yet clear the said dispute and did not credit the mature amount to the complainant. The complainant has filed this case for realization of this mature amount of term deposit and also claims compensation for his mental agony and harassment and also litigation costs.
The O.P appears before this Commission and filed his Written Version wherein he has admitted that the complainant has purchased a Special Term Deposit Receipt of Rs. 10,000/- which was matured on 10/08/2005 but after maturity the complainant did not produced the said Special Term Deposit Receipt to the bank for encashment. He also admitted that the said Special Term Deposit Receipt was deposited to N.F. Railway and according to him N.F. Railway to the party he also argued this case has been filed after expiry of limitation period.
After completion of the trial the complainant filed his written argument. The O.P No. 1 has filed his w argument and then O.P No. 1 did not turn up to proceed the case.
In this context, the following issues are necessarily come up for consideration to reach just decision of the case.
POINTS FOR CONSIDERATION
Is the complainant a consumer u/s.2 (1)(d)(i)(ii) of Consumer Protection Act ?
Has this Forum jurisdiction to try the instant case?
Is the case is barred by limitation and defect of parties?
Is there any deficiency in service on the part of the O.P?
To what other relief/reliefs the complainant is entitled?
DECISION WITH REASONS
Point Nos. 1 and 2 :- This case has been filed u/s. 12 of the Consumer Protection Act, 1986 with a allegation of deficiency in service. From the face of the case record it appears that the complainant deposited some amounts in the O.P bank but after maturity the O.P bank did not disbursed the same amount to the complainant. So, we find that there is an allegation of deficiency in service. The complainant being the consumer as per law is entitled to get relief if it is established. So, the complaint has been rightly filed u/s.2 (1)(d)(i)(ii) of Consumer Protection Act, 1986.
It also appears that the complainant is residing within the jurisdiction of this commission and the O.P also runs his business within the jurisdiction of this Commission. So, there is no reason to raise any point for jurisdiction of this Commission.
Point No. 3:- The O.P raised the point that this fixed deposit matured on 10/08/2005 but after lapse many years this case has been filed. So, according to him it is barred by limitation. After careful perusal of the case record we find that at first the date of maturity was 10/08/2005 but it was not disbursed on that date according to the banking rule and the said fixed deposit is to be renewed until payment is made and it is admitted position that the said fixed Special Term Deposit Receipt has not been en-cashed till date. That a part it appears that the complainant wrote a letter to the Branch Manager on 12/09/2016 requesting him to en-cashed the said Special Term Deposit Receipt in the savings bank account of complainant but no reply or any action was taken by the O.P rather the O.P has admitted that the said Special Term Deposit Receipt is till deposited in their bank. The case has been filed on 03/4/2018 and considering letter wrote by the complainant we find that the cause of action arose on 12/09/2016 when the complainant wrote a letter to the O.P. There is no barred by limitation as it is within the time limit.
It also appears that O.P has raised one point that N.F. Railway is the necessary party as because the said term deposit was submitted by the complainant before the N.F. Railway as a security measure but it also appears that the N.F. Railway return the said certificate to the complainant before first maturity date. After that the litigation going on in between the complainant and the O.P. N.F. Railway is not the necessary party in this case.
Point No. 4:- The admitted position of this case is that the complainant purchased a Special Term Deposit Receipt from O.P bank amount of Rs. 10,000/- in the August , 1998 and it is also admitted that the said Special Term Deposit Receipt has not been en-cashed till to-day.
According to the complainant he has deposited the Special Term Deposit Receipt to the bank after it’s maturity for encashment and thereafter, he pursued the matter with the O.P for encashment of the said Special Term Deposit Receipt but the bank did not take any steps to pay the matured amount of this Special Term Deposit Receipt to the complainant. According to the O.P, the complaint did not submit the Special Term Deposit Receipt to the bank for which the encashment was not done. Although O.P bank has admitted that the said Special Term Deposit Receipt has not been en-cashed till to-day. After perusal of the evidence as well as the Annexure - A we find that the said Special Term Deposit Receipt certificate was deposited to the O.P bank by the complainant But the O.P bank did not en-cashed the said Special Term Deposit Receipt and stated that the complainant did not produce the Special Term Deposit Receipt to the bank. The said Special Term Deposit Receipt is till pending for encashment before the O.P bank. The O.P bank did not take any steps for it’s encashment till date. We find that from the side of the O.P there is deficiency in service from their part for not making payment of the said fixed deposit in favour of the complainant. The said fixed deposit was matured in the year 2005 now it is 2021 several years have been passed but the complainant did not get any relief from the O.P bank apart from his harassment due to the negligence of the O.P. We find that the O.P is entitled to get the matured amount of the said Special Term Deposit Receipt along with interest of the bank till the realization of the said amount and he also entitled to get Rs. 50,000/- as compensation for his harassment for mental agony which he has been suffering since 2005. He also entitled to get Rs. 5,000/ as litigation cost. The O.P bank should pay the said matured amount which was according to the complainant Rs. 1, 05,000/- on the date of filing of this case i.e. on 03/04/2018 along with the interest on the said amount as per banking rule till the realization of the said Special Term Deposit Receipt.
Our considerate opinion is that there is deficiency in service from the part of the O.P bank for not giving the relief to the complainant since 2005 and accordingly the O.P bank should pay the amount as stated above.
Hence, for ends of justice, it is;
ORDERED
that the instant case be and the same is allowed on contest against the O.P bank. The complainant do get the award of Rs. 1, 05,000/- on the date of filing of this case i.e. on 03/04/2018 along with the interest on the said amount as per banking rule till the realization of the said Special Term Deposit Receipt and he also do get an award amounting to Rs. 50,000/- as compensation for his mental agony and sufferings and also Rs. 5,000/- as his litigation costs; total decreetal amount of Rs. 1,60,000/- excluding interest. The O.P bank is hereby directed to pay the decreetal amount along with interest to the complainant within 30 days from this day, failing which legal action will be taken against him.
Let a copy of this final order be sent to the concerned parties through registered post with A/D or by hand forthwith for information and necessary action.
Dictated & Corrected by me
