IN THE CONSUMER DISPUTES REDRESSAL FORUM, KOTTAYAM
Dated this the 31st day of July, 2023
Present: Sri. Manulal.V.S, President
Smt. Bindhu.R, Member
Sri. K.M.Anto, Member
CC No. 208/2022 (Filed on 07-10-2022)
Complainants : Joby Joseph,
S/o. P.C. Joseph,
Padinjarayil House,
Koodalloor P.O. Kidangoor
Kottayam – 686587
Rep. by his father and power of
attorney holder
P.C. Joseph,
Padinjarayil House,
Koodalloor P.O. Kidangoor
Kottayam – 686587
(Adv. Joshy Jacob)
Opposite parties : 1. Canara Bank,
Kidangoor – 1675 Branch,
Kidangoor P.O.
Kottayam – 686587
(Adv. A.J. Dominic)
2. Canara Bank,
Head Office, 112,
JC Road, Bengaluru,
Karnataka - 560002
O R D E R
Smt.Bindhu.R, Member
The complainant is holding a bank account with the opposite parties with account No. NRI 14 of the Kidangoor branch of the opposite parties. The complainant requested the manager of the 1st opposite party bank to make the amount of Rs.15,00,000/- in his current account to a fixed deposit. The complainant sent an email to the opposite party as per the direction of the manager on 22.07.21 at 12.02 PM expressing his interest in depositing Rs.15 Lakhs as a fixed deposit for 1year from his current account and his wife Mrs. Deepa Kuravakattu Sebastian would be made the nominee. The complainant was under the impression that the said amount was made fixed deposit. In October 2021, the complainant incidentally utilised the ATM card, he surprisingly came to know that there was a balance of Rs.13,50,000/- in his current account. When he enquired about this to the manager of the 1st opposite party, he was informed that instead of 15,00,000/-, they deposited 1,50,000/-only as fixed deposit. The opposite party conceded that they had committed a mistake and agreed to cover the loss suffered by the complainant at the time of maturity of the term deposit. An amount of Rs.2,587/- would have been drawn to and obtained to the complainant as interest till then. The non-depositing of the 15,00,000/- is a mistake on the part of the opposite party and they admitted it. But on 18.07.22, when the complainant contacted the opposite party for obtaining the total amount of interest which would have been accrued on the date of maturity, the opposite party declined to do it. The complainant was asked to wait and on 22.07.22 he met the Branch Manager. Then he was asked to wait for some more time as there was some issue. Then he met the manager on 25.07.22 when he was informed that since the statement of account was put in the computer it was impossible to provide the interest amount to the complainant. The unwillingness of the opposite party to extend the total amount of Rs.23,287.5/- to the complainant is an act of deficiency in service and unfair trade practice.
The complainant is entitled to be compensated by the opposite party for the loss suffered by the complainant of Rs.23,287.5/- towards the interest for the whole amount for one year. The act of the opposite party has created mental agony to the complainant and the complaint is filed for realising the amount of Rs.23,287.5/- and for compensation of Rs.25,000/- towards the mental agony.
The opposite party was summoned and they appeared before the commission. Both the opposite party filed version jointly contenting that there is no consumer dispute between the complainant and the opposite party . The real facts are that the complainant made a fixed deposit of Rs.1.5 Lakhs at the 1st opposite party branch on 22.07.21 which was created by the 1st opposite party as per the request by the complainant vide e-mail to draw the amount from his NRI account. Immediately after the fixed deposit account was created, the intimation was given to the depositor/complainant. The complainant was properly informed about the amount as 1.5Lakhs. On 1.10.21 when the complainant visited the 1st opposite party only the 1st opposite party realised that there occurred a mistake in reading the amount as 1.5 Lakhs instead of 15 Lakhs. There was no wilful negligence on the part of the opposite party and they admitted the mistake to the complainant. Thereupon at the request of the complainant the balance amount Rs.13,50,000/- drawn from the NRI account was converted to fixed deposit on 1.10.2021.Satisfied with this, the complainant collected the FD receipts from the 1st opposite party on 1.10.2021.The complainant is not entitled for the amount of Rs.2,587.5 as interest as stated in paragraph 5 of the complaint. The opposite party did not concede that the 1st opposite party committed mistake and cover any loss alleged to have been suffered by the complainant. The claim of the complainant for Rs.23,287.5 as the interest lost is false and baseless. The complainant does not have any right at all for claiming and getting any amount as interest in excess of the legitimate interest accrued under the two fixed deposits. The claim of the complainant is only imaginary.
Towards the evidence of this case, the complainant filed affidavit in lieu of chief examination along with 3 documents which were marked as Exhibit A1 and A3. The opposite parties filed evidence affidavit with no documentary evidence. Both the parties filed argument notes in detail.
On examination of the pleadings of both parties, evidence and arguments we frame the following issues:
- Whether there is any deficiency on the part of the opposite parties?
- Whether the complainant is entitled to get the reliefs claimed/
Point no 1 and 2
The complainant’s case is that he had requested the 1st opposite party to draw Rs.15,00,000/- from his NRI account maintained with the 1st opposite party and make a fixed deposit on 22.7.21 and sent an email in this regard but the opposite party drew only 1.5 lakhs and deposited as fixed deposit. The complainant came to know about this only on 1.10.21 and the opposite party admitting their mistake made another FD of the balance amount of Rs.13,50,000/-As this is a deficiency of service on the part of the opposite party the complainant has to get the interest for Rs.15,00,000/- from 22.7.21 to 1.10.21 year. But the opposite party is not ready to give the interest claimed to the tune of Rs.23,287.5. The opposite parties while admitting this as their mistake, state that they had informed the complainant about this on the same day but he did not contacted the opposite parties till 1.10.2021. Upon being informed about the mistake, the opposite party corrected the same on the same day and made another FD with the amount of Rs.13,50,000/-.
Exhibit A2 and A3 are the FD receipts of Rs.1.5lakh and 13.5 lakh respectively. A2 is on 22.07.21 with 12 months duration with an interest @ 5.2% to 22.07.22. A3 is from 1.10.21 for 12 months with interest @ 5.10% to 1.10.22.
The opposite party though contended that they informed the complainant about the amount of FD as 1.5 lakhs but he did not replied. But they have not produced any evidence to prove that.
If the opposite party had made the FD of Rs.15,00,000/- on 22.07.21 itself, the complainant would have got Rs.78,000/- on 22.07.22. But as the opposite party deposited only 1.5 lakh on 22.07.21, and 13.5 lakhs on 1.10.21, the complainant would get only Rs.7800/- for 1.5 L and Rs.68850/- for 13.5L, Rs.76650/- in total. Thus there is a loss of Rs.1350/-only.
The opposite party has admitted that they had committed a mistake in reading 1500000/- as 150000/-and corrected it on the first information itself on 1.10.21, two months and 8days later. The complainant also had a responsibility to ensure whether his money was put in a fixed deposit by the opposite party. It may be true that the opposite party had no intention to draw only 1.5 lakhs only for no benefit. But the complainant being an account holder/consumer of the opposite party has all right to expect a fair and accurate service from the service provider 1st opposite party. Though by mistake, the opposite parties has been found deficient in providing good service to the complainant and hence are liable to compensate. Moreover, the opposite parties are liable to disburse the interest accrued on the two fixed deposits to the complainant on maturity. The FD for 1.5 lakh had an interest @5.20% on 22.07.21 whereas the interest rate diminished to 5.10% on 1.10.21. This act of the opposite party also infringes the right of the complainant as an account holder.
Thus on the basis of the above discussion, we find that the opposite parties have committed deficiency in their service and the complaint is allowed accordingly vide the following order
The opposite parties are directed to disburse the interest of the two fixed deposits as per their respective procedure.
- The opposite parties are directed to give Rs.1350/- (Rupees Thirteen thousand and fifty only) to the complainant.
- The opposite parties are further directed to give Rs.5000/- (Rupees Five thousand only) towards compensation for the mental agony to the complainant.
The order shall be complied within 30 days of receipt of copy of this order failing which the award amount shall carry 9% interest from the date of filing of the complaint.
Pronounced in the Open Commission on this the 31st day of July, 2023
Smt. Bindhu.R, Member Sd/-
Sri. Manulal.V.S, President Sd/-
Sri. K.M.Anto, Member Sd/-
Exhibits marked from the side of complainant
A1 – Power of attorney dtd.26-07-22
A2 – Photocopy of the deposit receipt for Rs.1,50,000/-
A3 – Photocopy of the deposit receipt for Rs.13,50,000/-
Exhibits marked from the side of opposite party
Nil
By Order
Assistant Registrar
