SRI BIJOY KUMAR DAS,PRESIDENT:-

                        Deficiency in service in respect of non-disbursement of maturity amount to one of the nominee in the fixed deposit kept with Op No.1-Co-Operative Society are the allegations arrayed against the Opp. Parties.

2.                     Complaint, in brief reveals that, Complainant’s mother namely Sampad Parida opened a fixed deposit bearing No. 1851 for Rs. 1,50,000/- with maturate date as 31/10/2016 which bears Account No. 1387. It is stated that the Account holder Sampada Parida died on dt. 02.04.2015 and husband of the Account holder died on 24.05.2017. It is also stated that after the death of Account holder the Complainant and proforma Op No.3 &4 became the successor of the deceased depositor Sampada Parida having 1/3^rd share each. But the Op No.1&2 instead of release of 1/3^rd share in favour of the complainant is deferring the payment, for which complainant made an application to the Asst. Register Co-Operative Society to redress his grievance and inspite of the instruction of the Asst. Register, Co-Operative Society Op No.1& 2 till-date is not releasing the legitimate share. Hence, the complaint before the Forum with prayer that a direction may be given to OpNo.1&2 to release 1/3 share to the complainant on the fixed deposit No. 1851 and compensation of Rs. 5000/- alongwith cost of litigation.

3.                     Op No.1, Chief Executive/Manager, PACS, Indupur, Kendrapara on receipt of the Notice appeared and filed written version and averred that complainant’s deceased mother namely Sampada Parida opened a fixed deposit Account, where her two(2) sons were nominee of the Account, as the complainant one of the son of the deceased Policy holder persue to release the fixed deposit amount in his favour, the amount can’t be withdrawn. OpNo.1 enclosed the photocopy of fixed deposit certificate, ledger, Accounts etc.

                        OpNo.2, Manager, Cuttack Central-Co-Operative Bank upon receipt of Notice and filed written version alongwith a letter bearing No. 276 dt. 17.09.2017, which reveals that complainant’s deceased mother Sampada Parida opened the fixed deposit amount keeping her two sons as nominee, One of the son is not operating the A/C for which fixed deposit amount could not be released. It is also prayed that Op No.1 is a separate institution the necessary direction if any of this Forum may be communicated to Op No.1 for its compliance.

                        Notice was served to Op No.3 issued by this Forum delivered to him 12.07.2019, as per track consignment, but Op No.3 did not prefer to appear into case, hence set ex-parte by this forum vide order No.5 dt. 06.09.2019.

                      OPNo.4 Santilata Parida @ Shantilata Samal, daughter of the deceased Account holder Sampada Parida appeared through her Ld.Counsel and filed written version alongwith an affidavit. The written version of OpNo.4 reveals that a fixed deposit amount of Rs. 1,50,000/- stands in the name of her deceased mother Sampada Parida bearing A/C No. 1387 ledger No. 9/15, where her two brothers, the Complainant and Op No.3 are legal nominees of the said fixed deposit Account. In the written version OpNo.4 also averred that, if the matured amount in the said fixed deposit account bearing No. 1387 are released equally in between her two brothers relinquishing her share. She has no complaint in this regard. The affidavit is supported the version and assign the causes for non receipt of the Notice sent by this Forum.

4.                     Heard the Ld. Counsels appeared for the Complainant and OpNo.4 and Op No.1 Chief Executive PACS, Indupur, OpNo.2, Manager Cuttack Central Co-Operative Bank, Kendrpara and ex-parte hearing against Op No.3. Complainant to substantiate his case filed attested photocopies of death certificate of his mother Sampada  Parida, death certificate of his father Parikhita Parida, legal heir certificate and copy of the letter addressed to asst. Register Co-Operative Society, Kendrapara.  Op No.1 filed documents as per the enclosure of his written version. 

                        The admitted facts of the case are that, complainant’s mother opened a fixed deposit Account with Op No.1 Society, where her two sons complainant-Pranata Kumar Parida and Op No.3 Prasanta Kumar Parida were nominee in the said fixed deposit account. The facts reveal from the documents produced before this forum reflects that an amount of Rs. 1,50,000/- is kept with OpNo.1-Society bearing No. 1851 bears the A/C No. 1387 as fixed deposit, which is matured on 31.10.16. It is also a fact that after death of the Account holder Sampada Parida and her husband Parikhita Parida, Complainant and Op No.3 & 4 are the natural legal heirs of the deceased Account holder Sampada Parida.

                        Now, the question arises when Op No.3, Prasanta Kumar Parida one of the nominee of the said fixed deposit amount did not turn up or Co-Operate for release of Fixed deposit amount which is matured on 31/10/2016 and to release the matured amount what is the role of the Op No.1 Society? Further the share of the complainant in the disputed fixed deposit is to be determined in accordance with the law.

                        Sec.45ZA(2) of the Banking Regulation Act-1949 is applicable to disbursement of deposited amount in a financial Institution in case of death of the Account holder and the status of the nominee in this regard, which is also applicable to the Co-Operative Society. Under Sec.45ZA(2) of the Act Honbl’e Apex Court of the country in a number of decisions observed that ‘nominee’ is nothing more than a ‘Trustee’ of the Fund. Nominee is only entitle to receive the amount, but can’t enjoy the same on the death of the Account-holder, the property devolves to the successor/legal heirs. In the instant case deceased Account holder Sampada Parida has 3 nos. of legal heirs(Two sons and one daughter). One of the son is the complainant and another son and daughter are as arrayed as parties as proforma defendant no as Op No.3 & 4. So, in the death of the A/C holder Sampada Parida, Complainant and OpNo.3 & 4 are entitled to avail 1/3^rd share each in the total released fixed deposit amount. We do not find any illegality in releasing 1/3^rd share of the fixed deposit amount inquestion in favour of the complainant, when the OpNo.2 is not co-Operating as alleged by the complainant, because Op No.2’s legitimate claim remains with the OpNo.1–Society.          Considering the affidavit and written version filed by the Op No.4, the daughter Santilata Samal @Shantilata Parida who relinquish her share in favour of her 2 brother-nominee related to fixed deposit maturity amount of her deceased mother bearing Account No. 1387 being one of the legal heir. Though the share of the Op No.4 daughter of the deceased account holder is not a part of the complaint, but to avoid complexity and on filing an affidavit before this Forum by daughter Santilata Parida @Santilata Samal. This Forum is of the views that the OpNo.1-Society is at liberty to relinquish the share in favour of the nominees of the fixed deposit amount as per the Banking Rules and after completing the required legal formalities. After relinquishment of her share, the amount in the fixed deposit to be divided equally between the 2 nominees-legal heirs in succession.  Complainant has prayed on the complaint petition seeking direction of this Forum to OP No.1& 2 to release 1/3^rd share to the complainant of the fixed deposit amount which is recorded in the name of her deceased mother nearing A/C No. 1387, which is matured on 31.10.2016, accordingly the complaint is allowed and in the changing circumstances 1/3^rd share of daughter, Op No.4, if relinquished same to be release on the favour of the complainant as per our observation.

                      Having observations reflected above, it is directed that, Op-No.1 Society Shall release the amount in favour of the complainant on submission of withdrawal/disbursement slip by the Complainant as per our observation alongwith other financial benefits as per the terms of the fixed deposit Account No. 1387. 7 (seven) days time is given to Op No.1-Society from the date of receiving the withdrawal application of the complainant-nominee to release his share, failing which action be initiated against the Op No.1 Society as per the Provisions of C.P.Act-1986.

                      Complaint is allowed in part without cost on contest against Op No.1,2 &4and ex-parte against Op No.3.

               Pronounced in the open Court, this 18th day of September-2019.

                                I, agree.

                                    Sd/-                                                Sd/-

                                MEMBER                                    PRESIDENT