In  the  Court  of  the

Consumer Disputes Redressal Forum, Unit -I, Kolkata,

8B, Nelie Sengupta Sarani, Kolkata-700087.

CDF/Unit-I/Case No.   130 / 2009.

1)                   Sri Basudev Pal,

No. 10, Indra Roy Road, Kolkata-700025.                                                ---------- Complainant

---Versus---

1)                   Bank of Baroda, Bhowanipur Branch,

29, S.P. Mukherjee Road, Kolkata-700025.                                             ---------- Opposite Party

Present :           Sri Sankar Nath Das, President.

                        Smt. Jhumki Saha, Member.

Order No.    2 9   Dated  29/03/2012.

The petition of complaint u/s 12 of the C.P. Act, 1986 has been filed by the complainant Sri Basudev Pal against the o.p. Bank of Baroda. The case of the complainant in short is that complainant made six fixed deposits with o.p. for a total sum of Rs.1,25,000/- maturing on different dates in the year 1994 and 1997 and for some reasons beyond the control of complainant, complainant could not renew the deposits on maturity dates and sometime in 2008 complainant personally visited o.p. bank and by a written letter requested o.p. bank to renew the fixed deposits for a further period with upto date interest at the prevailing fixed deposit rates for the over due period and by issuing letter on 31.1.08 enclosing their international guidelines vide Bank’s Book of Instruction, Volume-I page 353 Column 5.30 (+7), declines to pay the fixed deposit interest rate and offered only simple savings rate for the over due period.

          Being aggrieved complainant has come forward with the instant complaint with a prayer contained in the prayer portion of the petition of complaint.

          O.p. had entered its appearance in this case by filing w/v and denied all the material allegations labeled against it and prayed for dismissal of the case in the present form.

Decision with reasons:

          We have gone through the pleadings of the parties, evidence and documents in particular. It is an admitted position that complainant made six fixed deposits with o.p. bank amounting to Rs.1,25,000/- and complainant could not renew those fixed deposits in time of maturity for the reasons beyond his control. It is known to all of us that fixed deposits rate varies from time to time and it has been admitted by complainant that complainant could not renew his fixed deposits in time and we find contradictory statement of complainant in letter dt.17.3.08 addressed to RBI. From para 5, 6 and 7 of the petition of complaint we come to find that complainant contacted o.p. for renewal, but he was refused. But from the terms and conditions as we find from the record is that if request for renewal is received after the date of maturity such overdue deposits will be renewed with effect from the date of maturity at the interest rate applicable as on the due date provided such request is received within 14 days from the date of maturity and in respect of overdue deposits renew after 14 days from the date of maturity, interest for the overdue period will be paid at the rates decided by o.p. bank from time to time. It is an admitted position that complainant did not make any request within 14 days from the date of maturity of the six fixed deposits. After maturity of fixed deposits o.p. ought to have sent a notice to complainant but o.p. did not do so. As such, complainant is entitled to get interest at the rate of interest prevailing from time to time after due date.

          Hence, ordered,

          That the petition of complaint is allowed on contest with cost against o.p. O.p. is directed to pay the entire fixed deposit amount of six fixed deposits of Rs.1,25,000/- (Rupees one lakh twenty five thousand) only in total with accrued interest upto the date of maturity and together with interest prevailing from time to time to complainant and o.p. is further directed to pay a compensation of Rs.30,000/- (Rupees thirty thousand) for his harassment and mental agony and litigation cost of Rs.5000/- (Rupees five thousand) only within 45 days from the date of communication of this order, i.d. an interest @ 9% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.

          Supply certified copy of this order to the parties.

   ____Sd-_____                                                   _______Sd-________

     MEMBER                                                           PRESIDENT