1       Heard argument of Learned Counsels of both the parties. Accordingly order has been dictated in presence of the parties in open Court which is as follows.

          2       The case of the complainant in short is that, they deposited Rs. 47000/- in Fixed Deposit in the joint name of both the complainants in Union Bank of India, Jainamore Branch, where complainant No.2 was working as an employee. Further case is that accordingly Fixed Deposit Certificate (in short FDC) No. EM/TBA/0833402 was issued by the Bank and its maturity date was 02.04.2009 with maturity value of Rs. 52397/- . It is further case that on 31.01.2015 complainant No.2 retired from service and thereafter, he applied for encashment of said FDC which was not given, hence he served legal Notice on the O.Ps. having no response, thereafter, case was filed with prayer to pass order for payment of Rs. 52397/- with interest @12% per annum from 02.04.2009. It is also prayed to pass order for payment of compensation Rs. 30,000/- and litigation cost Rs. 10,000/-.

3       Both the O.Ps. have filed W.S. by admitting the claim related to deposit of FDC and its none payment but they have denied regarding service of legal notice and claim related to payment of interest. It is said that branch was being converted from non CBS to CBS, hence due to mistake of the software loader concerned FDC was left to the loaded in the system, however, complainant No.2 was also working there who could not traced out the said FDC.

4       Both the parties have adduced their evidence during which both complainants have been examined and on behalf of O.Ps. concerned Branch Manager has given his evidence. Both the parties have filed their Written Notes of Argument.

5       It is admitted fact that complainants have opened above FDC in the Bank of O.Ps. for above mentioned amount and maturity value of said FDC has not been paid till date. Only dispute is that complainants are entitled to get interest as claimed?

6       It reveals from the evidence of the parties that non has specifically stated regarding prevailing rate of interest at relevant time. However, on perusal of the copy of the FDC it appears that at that very time rate of interest was 10% Per Annum (in short P.A.). It is submitted by the Learned Counsel for the O.Ps. that at present rate of interest is 5.5% P.A. It is said on behalf of both the parties that in case if maturity value of FDC is that not being taken by the parties then it will be treated re-fixed for the same period, however, the rate of interest will vary according to prevailing rate at that very time.

7       In light of above discussion specially the facts admitted by O.Ps. we are of the view that the prayer of the complainant is liable to be accepted/allowed  because there is deficiency in service by the O.Ps. in making payment of FDC.

8       Accordingly, prayer of the complainants is allowed in the manner indicated below.

9       O.Ps. are directed to make payment of Rs. 52397/- along with interest @ 7% P.A. from 02.04.2009 and also to pay Rs. 5000/- (Rs. Five thousand) only as litigation cost. So far prayer related to compensation amount is concerned in our opinion complainant No.2 being employee of the Bank concerned has not taken steps for encashment of FDC within stipulated period hence he was also found not vigilant, hence his claim for compensation is liable to be rejected. Compliance of the order must be insured within one month from today.