Karnataka

Belgaum

CC/556/2014

Vithal R lohar. - Complainant(s)

Versus

Chairman Of Millat Co-Op Cr Society Ltd. - Opp.Party(s)

S.R.Sakri.

15 Jun 2015

ORDER

(Order dictated by Smt. S. S. Kadrollimath, Member.)

ORDER

          U/s.12 of the C.P. Act, complainant has filed the complaint against the O.P. alleging deficiency in service of non payment of the amount of the matured F.D.R. and the amount lying in S.B. Account.

          2) The O.P. 2 inspite of service of notice remained absent and placed exparte. O.P.1 appeared through advocate and admit the deposit but deny the rate of interest etc., 

          3) In support of the claim in the complaint, complainant has filed affidavit and original F.D.R. and original Passbook is produced by the complainant.

          4) We have heard the arguments and perused the records.

          5) Now the point for our consideration is that whether the complainant has proved deficiency in service on the part of the O.P. and entitled to the reliefs sought?

          6) Our finding on the point is partly in affirmative, for the following reasons.

:: R E A S O N S ::

          7) From the evidence on record it has been proved that under F.D.R. No.113 bearing A/c. No.11346 is renewad from time to time and as on 1/9/2009 the amount deposited is Rs.1,00,000/- was kept by the complainant in the O.P. society and the maturity date as on 1/9/2010 and the agreed interest rate was 10% P.A. The O.Ps. transferred the interest amount to the S.B. account of complainant regularly till 15/1/2012 thereafter they have stopped crediting the interest to the account of complainant and the amount lying in S.B. Account No.6457 as on 19/11/2013, outstanding balance is Rs.8,316/-.

          8) Grievance of the complainant is that inspite of the repeated requests the maturity value of F.D. and outstanding balance is Rs.8,316/- of S.B. Account was not paid. After going through the F.D. receipts we notice that the F.D. was renewed time to time deposit was Rs.1,00,000/- and this can be observed from the entries made on the back side of F.D. receipts and for every six months the F.D. is renewed and lastly on 15/1/2013 and the agreed rate of interest was 10% P.A. Inspite of several request the amount remain unpaid. Hence there is deficiency in service. These facts alleged in the complaint are stated by the complainant in the affidavit. Hence, deficiency in service is proved.

          9) O.P.1 appeared through advocate and admit the deposit but deny the rate of interest etc. and also denied all the allegations made by the complainant. Further O.P.1 submits that they have not liable to pay the interest claimed by the complainant at the rate of 10% from 1/2/2012, but they are liable only at the rate of 4% P.A. from the date of maturity since the F.D. was not renewed.

          10) The complainant is a senior citizen. The banks/society usually pay sum point of interest more than the regular interest to the senior citizen. Hence the present complainant being a senior citizen the rate of interest ordered is at the rate of 10% P.A.

          11) Taking in to consideration of various aspects and the decision of Hon’ble Apex Court reported in (2011) SCCR 268 and of the Hon’ble Apex Commission reported in 2013 (2) CPR 574 as well as other subsequent decisions absolutely it is just and necessary to impose cost on daily basis if order remains uncomplied within the period fixed for compliance of the order, so as to have feeling and pinch.

          12) Accordingly, following order.

ORDER

          The complaint is partly allowed.

          The O.P. represented by the Chairman and  Branch Manager are hereby directed to pay a sum of matured amount of Rs.1,00,000/- in respect of F.D.R. No.113 bearing A/c. No.11346 to the complainant with interest at the rate of 10% P.A. from 15/1/2012 till realization of the entire amount.

          The O.P. represented by the Chairman and Branch Manager are hereby directed to pay a sum of Rs.8,316/- outstanding balance in S.B. Account No. 6457 with interest at the rate of 5% from 19/11/2013.

          Further, the O.P. represented by the Chairman and Branch Manager are hereby directed to pay a sum of Rs.3,000/- to the complainant towards costs of the proceedings.

          The order shall be complied within 30 days from the date of the order.

If the order is not complied within stipulated period, O.P. is hereby directed to pay a sum of Rs.50/- per day to the complainant from the date of disobedience of order, till the order is complied.

 (Order dictated, corrected and then pronounced in the open Forum on: 15^th day of June 2015)

Member                    Member                        President.

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