Punjab

Nawanshahr

CC/22/2018

Sohan Singh Virk - Complainant(s)

Versus

HFDC Bank & others - Opp.Party(s)

Sh.Deepak Kumar

07 Aug 2019

ORDER

DISTRICT CONSUMER DISPUTES   REDRESSAL FORUM, SHAHEED BHAGAT SINGH NAGAR

 

Consumer Complaint No.   22 of 04.05.2018

Date of Decision            :  07.08.2019

 

Sohan Singh (now deceased) S/o Hazara Singh through its legal heirs Balwant Singh and Hardeep Singh ss/o Sohan Singh r/o Village Jatt Pur P.O Garlon Bet Tehsil, Balachaur, District SBS Nagar.

….. Complainant

Versus

 

1. H.D.F.C Bank Ltd., Branch Balachaur District SBS Nagar through its Manager.
2. Vivek Mahajan Clerk of HDFC Bank Branch Balachaur District SBS Nagar at present posting at Village Jabbowal.
3. Romit Dhamija Clerk of HDFC Bank Branch Balachaur District SBS Nagar.

…Opposite parties

 

 

(Complaint U/s 12 of the Consumer Protection Act, 1986)

 

 

QUORUM:

SH.KULJIT SINGH, PRESIDENT

SH.KANWALJEET SINGH, MEMBER

COUNSEL FOR THE PARTIES:

For LRs of complainant :         Sh.K.K.Thukral, Advocate

For OP-1                       :         Sh.Kaladhar Diwan, Advocate

For OP No.2                            :         Exparte

For OP No.3.                 :         DAW

 

Per KULJIT SINGH, PRESIDENT

 

1.   The present complaint has filed under Section 12  of the Consumer Protection Act, 1986 against the OPs on the averments that the complainant is a senior citizen having saving account bearing no.18331000017172 in HDFC Bank Branch Balachaur District SBS Nagar. On 10.12.2012, he visited HDFC Bank/OP no.1 to invest his  hard-earned money in shape of fixed deposits receipts for short term for his future needs and in that connection, he approached OP no.2, where he meet OP no.3 Vivek Mahajan , who was clerk in HDFC Bank. OP no.3 told him that as per the scheme of FDR, complainants (legal heirs of complainant) have to deposit the entire amount for single time and after the completion of five years i.e. at the time of its maturity, he will get a fixed amount after including interest @ 12% per annum on the principal amount as per assurance and promise made by the OPs. Complainant no.1 agreed to deposit the amount after some days. On 10.12.2012, OP no.2 along with OP no.3 approached the complainant  at his house. OP no.2 and 3 told the complainant that they are opening FDR for five years of complainant for Rs.2 lac on his name. At the time of opening the said FDRs, he was asked to sign some blank form/documents by official of OPs. He handed over DD of Rs.2,00,000/- dated 27.12.2012 in favour of HDFC.  In the month of December 2017, he approached HDFC Bank for maturity of above said FDR , then came to know that instead of opening FDR, OPs have illegally and with a malafide intention issued insurance policy to the complainant.  But till date he has not received any insurance policy regarding issuance of the insurance policy.  When he came to know about issuance of above mentioned policy, he approached OPs and asked them to return back the amount of Rs.2,00,000/- along with interest, which were deposited with OP no.1 by complainant and informed the entire matter to branch manager of OP no.2 and requested the Branch Manager to refund/return back the amount of Rs.2,00,000/- along with interest at the earliest. But OP no.2 kept the entire matter dilly dallying on one pretext or the other. Till today, neither OP no.1 nor OP no.2 have paid the amount of Rs.2,00,000/-  to the complainant, which was fraudulently and illegally diverted by them for issuing alleged policy instead of opening FDRs in spite of repeated demands made by him. The OPs have clearly refused to return the amount in question. The OPs have misrepresented the material facts and made active concealment with malafide intention in order to cause wrongful gain to OPs no.1 and 2. The said act of OPs tantamount to negligence, cheating, fraud and deficiency in service. Therefore, complainants (legal heirs of complainant) have filed the present complaint and prayed that OPs be directed to  pay Rs.2,00,000/- along with interest @ 12% per annum for damages, compensation and for negligence.
2. Upon notice, OP no.1 appeared and filed written reply and contested the complaint of the complainant by raising preliminary objections that complainant is barred by his act and conduct. The complaint is time barred and is bad for non-joinder of necessary parties as head office of OPs and HDFC Standard Life Insurance Company are necessary parties for proper adjudication of the complaint. On merits, it was averred that allegations of handing over DD of Rs.2 lac bearing no.2708 dated 27.12.2012 on the same day i.e. 10.12.2012 in favour of HDFC is completely baseless as it was impossible for the complainant to get the DD dated 27.12.2012 on 10.12.2012 that is 17 days prior to the date of handing over the DD so this shows the cleverness of the complainant and sole motive of the filing the complaint by complainant is nothing else than to harass the OPs.  The complainant never approached bank in December 2017 for maturity of the above said FDR but complainant approached OPs for the inquiry of balance in his account which was disclosed to complainant by OPs. The rest of the averments of the complainant were denied by OPs and prayed for dismissal of the complaint.  
3. Notice sent to OP no.2 through registered post on 15.05.2018. Period of 30 days has already lapsed, but despite that none appeared for OP no.2 despite wait. Therefore, OP no.2 was proceeded against exparte on 02.07.2018.

4.       In view of the statement dated 29.10.2018 of counsel for complainant, this complaint stands dismissed as withdrawn against OP no.3 vide order dated 12.11.2018 passed by this Forum.

5.  

6.       We have heard learned counsel for the parties and have also examined the record of the case very carefully.

7.       The complainant has tendered in evidence his affidavit Ex.CW-1/A in support of his case. He has saving account bearing no.18331000017172  in HDFC Bank Branch Balachaur District SBS Nagar. On 10.12.2012, he visited HDFC Bank to invest his hard-earned money in the shape of Fixed Deposit Receipt for short term for this future needs and in connection he approached OP no.2 where he met OP no.3/Vivek Mahajan, who was clerk in HDFC Bank. OP no.3 told him that as per scheme of FDR, to deposit the entire amount for single time and after completion of five years i.e. at the time of maturity, he will get a fixed amount including interest @ 12% per annum on the principal amount, as per assurance and promise made by OPs.  After that, OP no.2 along with OP no.3 told him that they are opening FDR for five years for Rs.2 lac on his name.  At that time of opening said FDRs, the complainant was asked to sign some blank forms/documents by official of OPs no.3 and 4. In the month of December 2017, complainant approached HDFC Bank for maturity of above said FDR and instead of opening FDR, OPs have illegally issued insurance policy. The complainant approached OPs and asked him to return back the amount of Rs.2 lac along with interest, which was deposited with OP no.1 and informed the entire matter.  But OPs kept the entire matter dilly dallying on one and other pretext. Till today, neither OP no.1 nor OP no.2 have paid the amount of Rs.2 lac, which was fraudulently illegally diverted by them for issuing alleged policy instead of opening FDRs, in spite of repeated demands made by complainant. He alleged that said act of OPs tantamount to negligence, cheating, fraud and deficiency in service. Ex.C-1 is statement of account.

8.       To counter this evidence of the complainant, OPs relied upon affidavit of Rahul Verma Manager HDFC Bank Ltd Ex.OP-1/A on the record. This witness deposed that complainant never approached bank in December 2017 for the maturity of the above said FDR but he has only approached OPs for inquiry of balance in his account, which was disclosed to complainant by OPs. He further stated that the complainant invested in HDFC Standard Life Insurance Company and HDFC Bank and HDFC Standard Life Insurance Company are two different entities having their separate offices. He denied rest of the averments of the complainant and prayed for dismissal of the complaint.

9.       From perusal of record and hearing respective pleadings of the parties, we find that  the complainant invested his money in the shape of Fixed Deposits Receipts on 10.12.2012 and according to norms of OPs, complainant has to deposit entire amount for single time and after completion of five years at the time of its maturity, complainant will get fixed  amount including @ 12% per annum. When, in the month of December 2017, he approached HDFC Bank for maturity of above said FDR amount but OPs illegally and malafide intention issued insurance policy without his consent. In the meantime, complainant/insured has died on 23.10.2018. After that, his sons being his legal heirs filed an application for impleading them his legal heirs. Vide order dated 30.04.2019 of this Forum, the application for impleading them as legal heirs is allowed. LRs of deceased complainant namely Hardeep Singh appoint his special power of attorney to Sh. Surjit Singh. Similarly, LR Balwant Singh of complainant appoint his power of attorney to Sh.Raj Kumar on 06.06.2019. Present counsel for LRs appeared on their behalf.

10.     It is established fact that on the assurance given by OP, the complainant visited HDFC Bank to invest his hard-earned money in the shape of Fixed Deposits Receipts (FDR) for short term for his future needs. OP no.2 along with OP no.3 told him that they are opening FDR for five years for Rs.2 lac. At the time of opening said FDRs, he was asked to sign some blank forms/documents by official of OPs no.3 and 4. He handed over DD of Rs.2 lac bearing no. 2708 dated 27.12.2012 in favour of HDFC Bank.   After that, in the month of December 2017, complainant approached OPs for maturity of above said FDR but instead of opening FDR  the OPs have illegally and with malafide intention issued insurance policy. But till date he has not received any insurance policy /document regarding issuance of insurance policy.

11.     As per notification of Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies), Regulations 2010, OPs are liable to pay the amount, which was invested by complainant with OPs in FDRs within prescribed period. The lock in period of the FDR is five years, as per version of OPs. Therefore, it was duty of the OPs to release the payment to complainant within scheduled time. But till today, OPs have neither released the payment in favour of complainant nor issued insurance policy.  It was bounden duty of the OPs/Insurer to inform the complainant before converting the FDR amount into insurance policy.

12.     From perusal of record, it has transpired that during pendency of the present complaint, complainant has expired on 23.10.2018. Thereafter, application for impleadment of legal heirs has been filed by his legal heirs. Therefore, OPs are liable to pay the amount of FDRs /insurance policy to legal heirs of complainant.

13.     In the light of our above discussion, we allow the present complaint and OPs are directed to pay Rs.2,00,000/- which has been deposited by complainant to OPs through DD bearing no.2708 dated 27.12.2012 in favour of HDFC to legal heirs of complainant in equal shares. OPs are also liable to pay Rs.5,000/- as compensation for mental harassment to legal heirs of complainant and Rs.3,000/- as costs of litigation.     

14.     The compliance of the order be made within one month from receipt of copy of this order.

15.     Let copies of the order be sent to the parties, as permissible, under the rules.

Dated :07.08.2019

 

                                      (Kanwaljeet Singh)          (Kuljit Singh)

                                         Member                            President