Delhi

New Delhi

CC/405/2016

Manoj Chawla - Complainant(s)

Versus

ICICI Bank Ltd. - Opp.Party(s)

13 Jan 2020

ORDER

 

 

CONSUMER DISPUTES REDRESSAL FORUM-VI

(DISTT. NEW DELHI), ‘M’ BLOCK, 1^STFLOOR, VIKAS BHAWAN,

I.P.ESTATE, NEW DELHI-110002.

 

Case No.CC.405/2016                                                              Dated:

In the matter of:

Manoj Chawla,

C-42. Adarsh Apartments,

A2 Block, Paschim Vihar,

New Delhi-110063.

                           ……..COMPLAINANT

VERSUS

ICICI  Bank Ltd.,

Through Manager,

9A Phalps Building,

Connaught Place,

New Delhi-110001.

                        Opposite Party

 

ARUN KUMAR ARYA, PRESIDENT

 

ORDER

 

The complainant has filed the present complaint against the OP under section 12 of Consumer Protection Act, 1986.  The brief facts as alleged in the complaint are that the complainant was RD account holder bearing No.000701536147 with OP Bank since 2.6.2005.  The said R.D. account was for a period of 10 years with EMI of Rs.1000/- and  was due for maturity on 2.6.2015  with an amount of Rs.1,66,698/-.  On 5.6.2015, the complainant received a sum of Rs. 1,25,391/- as maturity amount instead of Rs.1,66,689/- .  Thereafter, the complainant lodged the complainant with the OP bank through online, in reply, the complainant was informed that an amount of Rs.16860/- deducted from maturity amount against penalty for missing instalments  as 16 instalments were missing.     As per the bank on admission vide email dt. 8.7.2015, 16 instalments were defaulted by the complainant but the bank has given a short credit of Rs.7000/- presuming that 23 instalments were missing. The complainant repeatedly requested the bank vide various email to sort out the matter but bank did not pay any heed, and vide letter dt. 23.10.2015, bank informed the complainant that as per the terms and conditions the bank had imposed a penalty of Rs.12/- per one thousand per instalment per month from the maturity amount, hence, payable to him.  The complainant also sent a legal notice dt. 10.3.2016to the OP thereby claiming the refund but nothing has been refunded by  the OP,  complainant, therefore, approached this Forum for redressal of his grievance.

 2.     Complaint has been contested by the OP.  OP filed its written statement.  It is stated by the OP that the penalty of Rs.12/- per one thousand is levied against the missed instalment and therefore, penalty charges of Rs.16860/- has been adjusted from interest payable on R.D. amount and not against the principle.  The deduction has been made in accordance with the terms and conditions applicable for recurring deposit and prayed for the dismissal of complaint.

3.     Both the parties have filed their evidences by way of affidavits. 

4.     We have heard arguments advanced at the Bar and have perused the record.

5.     It is argued on behalf of complainant that arbitrarily deduction of sum of Rs.16860/-  by OP bank under the pretext of penalty charges amounts to deficiency in services, hence, he is entitled for the relief claimed.  On the other hand, it is argued on behalf of OP that the penalty charges of Rs.16860/- was deducted from the interest payable on the recurring deposit and not on the principle as per the terms and conditions of the recurring deposit.  In support of its contention, he has drawn our attention towards the terms and conditions of the R.D. 

6.     The bare perusal of the same makes it clear that the penalty charges was imposed and deducted by OP bank as per the terms and conditions of R.D. and not arbitrary, due to non-payment of the instalment in question.  Moreover, the complainant has itself admitted in his complaint that he had failed to pay 16 instalments against the R.D.  In such a circumstances, we are of the considered view that there is no deficiency in services on the part of  OP bank.   The present complaint is devoid of merit, same is hereby dismissed

 

Copy of the order may be forwarded  to  the complainant to the case free of cost as statutorily required. The orders be uploaded on www.confonet.nic.in. File be consigned to record room.

 

Announced in open Forum on 13/01/2020.

 

 

                                                     (ARUN KUMAR ARYA)

                    PRESIDENT

 

                      (NIPUR CHANDNA)                                            (H M VYAS)

                                                 MEMBER                                                   MEMBER