Sri Santosh Kumar Adhikari,aged 50 years

S/o: Satyaban Adhikari

AT:Mathasahi,

PO/PS/Dist:Bhadrak

                                 …………………….Complainant

                    (Vrs.)

1.         The Balasore Dist.Co-Operative Central Bank Ltd.

            Now reconstructed as The Balasore Bhadrak Dist.

            Central Co-operative Bank Ltd.,

            Rep.through its Branch Manager

            At/PO/PS/Dist:Bhadrak

2.         The Secretary,

            The Balasore Dist.Co-Operative Central Bank Ltd.

            Now reconstructed as The Balasore Bhadrak Dist.

            Central Co-operative Bank Ltd.,

            At/PO/PS/Dist:Bhadrak

                             …………………………..Opp.Parties

Order No.19 dt.22.07.2015:

            The case of the Complainant is that on 25.07.1994 and on 16.08.1994 he had deposited a sum of Rs.20,000/- and Rs.5,000/- respectively in the O.P.-Bank as term deposit and the maturity value of above term deposits were renewed from time to time and as per the instruction of the Complainant the above two term deposit matured on 125.11.2013 with a maturity value of Rs.2,29,485/- and Rs.56,931/- respectively. After maturity of the F.Ds, the Complainant went to the Office of O.Ps and asked for payment of the above maturity amount but the O.P.No.1 told that they would be able to pay the maturity value written in red ink over the fixed deposit receipt and on the other hand bargain that they could pay simple interest over the deposited amount and denied to pay the maturity value calculated previously on the cumulative basis as per the norms of the RBI followed by all the Banking sectors. Complainant being disheartened went to O.P.No.2 and divulged his grievances which fall in deaf ear. So alleging deficiency in service and unfair trade practice on the part O.Ps the Complainant filed this case 17.01.2014 praying for a direction to O.Ps to pay Rs.2,29,485/- and Rs.56,931/- towards the maturity value along with pendentelite interest at contractual rate @ 13% per annum with cumulative rests to the Complainant  along with compensation of Rs.20,000/- towards mental agony and discomfort besides litigation cost of Rs.10,000/- to him.

            O.Ps filed written version stating therein that the date of deposit in “Jeevan Sudha” deposit account which is as good as fixed deposit account dt.25.11.1995 does not corroborate with the dates in the complaint petition. It is a fact that the Complainant had invested Rs.20,000/- and Rs.5,000/- in the O.P.-Bank during 1993 which have been renewed from time to time and finally invested the both account on 25.11.1995 in “Jeevan Sudha” deposit account for a period of 18 years. The interest on such deposit is calculated as it is calculated in case of Fixed Deposit account which is not quarterly rest in nature and as such the Bank never mentions any amount of maturity value on the Deposit certificates. But what is seen on the body of the deposit certificates furnished by the Complainant along with complaint petition that there is mention of maturity value which is presumed to have been manipulated by the Complainant himself. The handwritings on the body of the deposit certificates differ from the handwriting of the Bank staff at the time of issue of certificates. The Complainant has approached the O.P.No.1 for withdrawal of maturity value and the O.P.No.1 presumed that the maturity value mentioned in both the F.Ds are fake and the Complainant being the depositor might have manipulated the deposit certificate by way of cutting and overwriting or with the help of some other persons. Furthermore, the account of the depositor maintained with the O.P.No.1-Bank shows less value than what appears in the deposit certificates. The O.Ps are ready to disburse the accurate maturity value outstanding in the account of the Complainant as per rule.

            We have heard the Ld.Counsel appearing on both sides and perused the documents available on record. After filing of written version along with Transaction sheet of the Account No.1 & 2 of the Complainant by O.Ps, the Complainant filed a petition on 16.07.2014 stating therein that in the year 2004 the O.P-Bank was computerized and prior to that all the transactions were entered in the ledger. Therefore, the Complainant prayed to call for ledger from O.P.-Bank in which the fixed deposit certificate No.011601 dt.25.07.1994 and fixed deposit certificate No.011602 dt.10.08.1994 are mentioned with the amount deposited. O.P.-Bank filed memo on 08.05.2015 stating therein that after uploading of the data information to computer from manual ledgers, the manual ledgers are no use and stored at store room of the Bank. Some manual ledgers along with the Complainant’s ledger are missing and it was not found after search. All information of manual ledger is found in computer ledger. As such, no manual ledger was filed by O.P.-Bank as per direction of this Forum dt.11.03.2015.

            At the time of filing of the case, the Complainant had filed Xerox copies of J.S. Deposit Receipt No.011601 and No.011602. On 11.03.2015, the Complainant produced the original J/S Deposit Receipt (Fixed Deposit Certificate) No.011601 dt.25.07.1994 for Rs.20,000/- against account No.1 wherein it has been mentioned the maturity value as Rs.2,29,485/- on 25.11.2013. Aforesaid J/S Deposit Receipt (Fixed Deposit Certificate) No.011601 dt.25.07.1994 (Xerox copy) after verification was found correct with the original and it was marked as Ext.-I by the Forum.  Similarly, Complainant also produced original J/S Deposit Receipt (Fixed Deposit Certificate) No.011602 dt.16.08.1994 for Rs.5,000/- against account No.2 of the Complainant  wherein it has been mentioned the maturity value as Rs.56,931/- on 25.11.2013. Aforesaid J/S Deposit Receipt (Fixed Deposit Certificate) No.011602 dt.16.08.1994 (Xerox copy) after verification was found correct with the original and it was marked as Ext.-II by the Forum. Both the original certificates were returned to the Complainant on the same day.

            It is not disputed that the Complainant had deposited  Rs.20,000/- and Rs.5,000/- under “Jeevan Sudha” deposit account  with O.P.-Bank which were renewed from time to time and finally invested for 18 years with 13% interest per annum with date of maturity as 25.11.2013. According to O.P- Bank they never mention any amount of maturity value on such type of Deposit certificates. But it is found from the deposit certificates mention of maturity value which is presumed to have been manipulated by the Complainant by way of cutting and overwriting. Apart from the above, the account of the depositor maintained with the O.P.No.1-Bank shows less value than what appears in the deposit certificates. The O.Ps are ready to disburse the accurate maturity value outstanding in the account of the Complainant as per rule. While going through the statement of accounts filed by the O.Ps it is found that opening balance  against account No.2 of the Complainant on 25.11.1995 was Rs.10,354/- and on 30.04.2004 by adding monthly interest of Rs.61/-, it came to Rs.10,415/-. Thereafter, monthly FD interest of Rs.61/- has been added to the said account and on the date of maturity on 25.11.2013, it came to Rs.18,868/-. Similarly, the statement of accounts filed by O.Ps against account No.1 goes to show that  on 25.11.1995 there was opening balance of Rs.34,157/- and on 30.04.2004  by adding monthly interest of Rs.246/-, it came to Rs.34,403/-. Thereafter, monthly FD  interest of Rs.246/- has been added to the said account and on the date of maturity on 25.11.2013, it came to Rs.76,080/-. From the above statement of accounts it is revealed that from 25.11.1995 to 30.04.2004, one month interest has been calculated against both the accounts and interest has been calculated on monthly basis against FD after computerization in the year 2004. So there is much more difference of amount is seen between the FD certificate and statement of accounts. Had the O.Ps filed the manual ledger in which the fixed deposit certificate No.011601 dt.25.07.1994 and fixed deposit certificate No.011602 dt.10.08.1994 were mentioned with the amount deposited, the allegation of manipulation of certificate by Complainant would not have arisen.  Admittedly, manual ledger has not been filed by the O.Ps as it is missing and missing of ledger has not been proved by O.Ps adducing documentary evidence. Under such circumstances, we are unable to believe that the Complainant has manipulated the Fixed Deposit certificates and  thus the Complainant is entitled to get the maturity value of Rs.2,29,485/- and Rs.56,931/- with effect from 25.11.2013  along with prevailing interest on FD i.e. 13% which has been reflected on the body of FD certificates. Accordingly, it is ordered:

                                                        O R D E R

            In the result, the complaint is allowed on contest against the O.Ps 1 & 2. The O.Ps 1 & 2 are directed to refund Rs.2,29,485/- against FD No.011601(Account No.1) and Rs.56,931/- against FD No.011602(Account No.2)  with interest @ 13% per annum with effect from 25.11.2013  within a period of 30 days of receipt of this order. Further, the O.Ps are directed to pay Rs.2,000/- towards litigation costs to the Complainant.