Present : Sri. C.T. Sabu, President
Smt. Sreeja. S., Member
Sri. Ram Mohan R., Member
25th day of January 2023
CC 428/19 filed on 02/08/19
Complainants : AshwinBabu, S/o Baburaj, House No.20/313,
Alil House, P.O. Poothole, Thrissur – 3.
(By Advs. A.K. Baburaj& Manoj C.R., Thrissur)
Opposite Parties : 1) The Secretary, The NattikaFirka Co-operative Rural
Bank No. F 1251, H.O. Valappad.
2) The Accountant, TheNattikaFirka Co-operative
Rural Bank No.F 1251, H.O. Valappad.
(Ex-parte)
O R D E R
By Sri. C.T. Sabu, President :
The facts of the case, in brief, are as follows:
The complainant's grandfather Late V. T Balan deposited Rs. 5,000/- with The NattikaFirka Co-operative Rural Bank Limited on 21.03.1998 in a scheme named "Marriage Scheme". The Opposite Parties issued a certificate bearing No. 7/1998 dated 21.03.1998 for the deposit amount as per the scheme. The complainant's grandfather passed away on 13.08.2000. As his beneficiary, the complainant approached the Opposite Parties to get back the assured amount after the prescribed amount as per the certificate. But the Opposite Parties refused to release the amount. A lawyer notice was issued subsequently on 04.04.2019, whereas the Opposite Parties replied with false contentions. Hence the complaint was filed to get relief.
2) On receiving the complaint, the Commission issued proper notice to the opposite parties. The Opposite Parties failed to appear nor filed their version before the Commission even though they have received the notice. Accordingly, proceedings against the Opposite Parties were set ex-parte and the case is posted for the evidence of the complainant.
3) When the case came for evidence, the complainant filed the proof affidavit, in tune with the complaint. He produced three documents which are marked as Exts.A1 to A3. Ext. A1 is the certificate issued bearing No. 7/1998 dated 21.03.1998. Ext. A2 is the copy of the lawyer notice dated 04.04.2019. Ext. A3 is a copy of the reply letter dated 08.05.2019.
4) We have gone through the contents of the proof affidavit filed by the complainant and perused the documents produced. Exts. A1 to A3 are sufficient to prove the case of the complainant. As per the A1 document, it is evident that the complainant's grandfather had paid Rs. 5,000/- on 21.03.1998 and that the maturity amount is Rs.1,00,000/- with a due date of 21.03.2019. Also, the complainant's name is mentioned as the beneficiary. In Ext. A3 Reply Notice, the Opposite Parties admitted the scheme but they contended that they have terminated the scheme as per the decisions of the administrative committee on the respective dates of 14.02.2004 and 21.02.2004. They were ready to give 15% interest up to 15.03.2004 for the principal amount and offered 8% interest for the balance period. The Opposite Parties started the specific deposit scheme in 1998 and the changes are said to have had effect only in 2004. As per the established norms, the bank is bound to pay the assured amount once they accept deposits at a fixed interest rate or in case the deposit reaches maturity for a certain period. Hence this complainant is entitled to the maturity amount as per the A1 document.
5) In the absence of any evidence to the contrary, we find no reason to disbelieve the allegations raised by the complainant. The Opposite Parties' act of non-compliance of Ext. A1 document certainly amounts to unfair trade practice and also constitutes a deficiency in service.
6) The Opposite Parties had not cared either to enter an appearance or to file the written version before the Commission even after receiving the Commission's notice. The Opposite Parties' conscious failure to submit their written version amounts to an admission of allegations levelled against them by the complainant. The Honourable National Commission expressed the same view in its order dated 09.10.2017 in RP 579/2017 [2017 (4) CPR 590]. The complainant is undoubtedly deserving of the amount as shown in the A1 document. Since there is no contra evidence we are inclined to allow this complaint.
7) Accordingly, the complaint is allowed and the Opposite Parties are directed to pay the maturity value of Rs.1,00,000/- (Rupees One Lakh Only) to the complainant with 9% interest from the date of complaint. Also, directed to pay Rs. 10,000/- (Rupees Ten Thousand) towards the cost and compensation of this complaint. The opposite parties shall comply with the above directions within one month of receiving a copy of this order, failing which the complainant is entitled to get 9% interest for all those amounts till realization.
Dictated to the Confidential Assistant, transcribed by her, corrected by me and pronounced in the open Commission this the 25th day of January 2023.
Sd/- Sd/- Sd/-
SreejaS. Ram Mohan R C. T. Sabu
Member Member President
Appendix
Complainant’s Exhibits :
Ext. A1 certificate issued bearing No. 7/1998 dated 21.03.1998.
Ext. A2 copy of the lawyer notice dated 04.04.2019.
Ext. A3 copy of the reply letter dated 08.05.2019.
Id/- President
