Sri Shyamal Gupta, Member

This Appeal is directed against the Order dated 20-02-2015, passed by the Ld. District Forum, Hooghly in C.C. No. 102/2013, whereof the complaint has been dismissed.

Briefly narrated, case of the Complainants, is that, they opened an MIS Account with the OP Post Office on 28-04-2007.  In the passbook, it was clearly mentioned that, on maturity, they would be paid 10% bonus on the principal sum invested.  However, when they visited the OP Post Office to receive the maturity proceeds, to their utter surprise, the OP refused to pay any bonus amount to them.  Hence, the complaint.

The case of the OP, on the other hand, is that, as per Govt. of India Notification dated 10-02-2006, no bonus was payable in respect of accounts opened during the period from 13-02-2006 to 07-12-2007 and such fact was duly communicated to the Complainants at the time of opening of the account.  Since the Post Office was duty bound to comply with Govt. orders, its hands were tied.  Accordingly, it prayed for dismissal of the complaint.

Decision with reasons

We have heard the parties and also gone through the material on record. 

Undisputedly, it was mentioned in the MIS Pass Book that at the time of maturity, the Respondent would pay 10% bonus on the principal deposited sum.  Notwithstanding it is claimed by the Respondent that it did apprise the Appellants about the decision of the Govt. in respect of Bonus, in absence of any tangible proof from the side of the Respondent, we are not inclined to accept such proposition at its face value.  Had the Respondent been so vigilant, instead of verbally intimating the investors, it would surely straight away strike out the relevant portion in the pass book itself to avoid any misunderstanding in the matter.

Be that as it may, there is no denying the fact that, after comparing the probable returns that different financial institutions like, Bank, Post Office, UTI, residuary non-banking companies or RNBC etc. offer to potential investors, one charts out one’s investment planning.  

Therefore, there is every reason to believe that, attracted by the bonus offer together with other benefits/facilities, the Appellants chosen the Respondent as their preferred investment destination. Who knows, had the Appellants been aware of the actual fact, they would abandon the Respondent straightaway and invested the money to somewhere else for better return.

Clearly, thanks to the gross negligent act of the Respondent Post Office, the Appellants suffered substantial financial loss besides mental stress, pain and agony in the matter and as such, in our considered opinion, the Respondent cannot abdicate its entire liability for this unexpected turn of events.

Accordingly, we are inclined to allow this Appeal in part.

Hence,

O R D E R E D

That Appeal stands allowed on contest against the Respondent with cost for a sum of Rs. 5,000/-.  The Respondent is directed to pay a compensation of Rs. 10,000/- within 40 days from this day, i.d., simple interest @ 9% p.a. over the sum of Rs. 10,000/- shall be payable from this day till full and final payment is made. The impugned order is hereby set aside.