Sri S.K.Sahoo,President.
This is a petition filed by the complainant U/s. 12 of C.P.Act,1986.
2. The case of the complainant is that he had deposited an amount of Rs.16 Lakh in 16 numbers R.D accounts amounting Rs.1 lakh each for a period of five years on the advised of a staff of the opp.party’s bank. After five years, in the month of September, 2018 the complainant went to the Bank to close those accounts and get back his money. The complainant found that the opp.party has paid Rs.9,855.00 towards interest in each of the accounts. The complainant is entitled to get Rs.45,000.00 @ 9% interest in each of his account. Due to such payment by the opp.party, the complainant sustained a loss of Rs.36,000.00 in each of the account. After discussion with the branch Manager he agreed to pay interest @ 3.5% per annum as per the RBI Guide Line and paid Rs.14,000.00 for each deposit. The complainant has filed a calculation sheet along with his complaint. He has filed the photo copy of the pass books and some other documents.
3. The case of the opp.party is that the case is not maintainable either in law or in fact. There is no cause of action to file this case. The complainant has suppressed certain material facts, for which his case be dismissed. This forum has no jurisdiction as the claim raised by the complainant is a contract between the parties. The complainant has not deposited Rs. 16 lakh in 16 numbers of R.D accounts for a period of five years. The complainant is not eligible to get interest @ 9% p.a on each of the accounts. The complainant had opened 07 numbers of Recurring Deposit accounts on 11.09.2013, 3 numbers of Recurring Deposits on 14.09.2013 for a period of 12 months amounting Rs. 1 lakh each. Further he had opened 3 numbers of Recurring Deposit on 09.07.2014 for a period of 24 months amounting Rs. 1 lkh each. Again he opened another Recurring Deposit on 10.07.2015 amounting Rs. 1 Lakh for a period of 36 months. Again on 14.09.2015 he had opened one Recurring Deposit account for a period of 12 months amounting Rs. 1 Lakh. On 07.03.2018 he has opened another Recurring Deposit account for 12 months for Rs.20,000.00 . In the aforesaid manner he has opened 16 numbers of Recurring Deposit in between 13.09.2013 to 07.03.2018 . All those deposits were under Recurring Deposit plus scheme. The complainant was aware of the Recurring Deposit scheme , period of deposit, nomination, rate of interest etc. and after going through the same he filled-up the opening form and after verifying the information given by the complainant in the account opening application form, the accounts were opened. All the deposits were not for five years. The opp.party has paid the deposited amount along with the interest to the complainant and the complainant is not entitled to anymore.
4. Non of the parties adduced evidence. The case is to be disposed of basing on the complaint petition, written statement and documents filed by the parties and the argument lead by both the parties. The Learned counsel for the opp.parties relied on a decision (2004) CPJ 56 Smt. Manorama Vrs. Chairman PNB Bank decided by Hon’ble National Commission,New Delhi .On perusal of the case record i.e the materials available it is clear that the complainant has not opened the accounts for a period of five years. He has deposited the amount for different period such as 12 months, 24 months, 36 months etc. So the claim of the complaint that he is entitled to get interest @ 9 % P.a for a period of five years on all his deposits is not reasonable at all. He is entitled to the contractual interest on each deposits for the amount deposited by him in each accounts along with interest @ 3.5% per annum after maturity of each accounts till it is paid to the complainant. It is also clear from the calculation sheet filed by the Learned Counsel for the opp.party that the complainant has received the aforesaid amount from the complainant, through his pass book .
5. Hence ordered :-
: O R D E R :
The case be and the same is dismissed on contest.
