FACTS This is a complaint u/s 35 of the Consumer Protection Act, 2019 made by Lily Kumar alleging deficiency in service on the part of the Opposite Party No. 1- Kolkata Mohila Cooperative Bank and Opposite Party No. 2- The Manager of Opposite Party No. 1 and accordingly, prays for a direction upon the Opposite Parties for encashment of the matured amount, to hand over the matured amount to the complainant along with payment of Rs.35,000/- towards cost of compensation. FACTS IN BRIEF Factual matrix of the complainant’s case is that she had invested Rs.2,08,445/- with Opposite Party No. 1 who is a banking organization under the RBI rules and guidelines and accordingly, four numbers of folios were issued by Opposite Party No. 1 as per the details with maturity date mentioned below; (i) 2831 dated 30/10/2018- Rs.50,000/- @6% (1 year) and due date- 30/10/2019 (ii) 2809 dated 03/09/2019- Rs.52,815/- @6.25% (2 month) and due date- 03/11/2019 (iii) 2810 dated 03/09/2019- Rs.52,815/- @6.25% (2 month) and due date- 03/11/2019 (iv) 2811 dated 03/09/2019- Rs.52,815/- @6.25% (2 month) and due date- 03/11/2019. Thereafter, complainant requested to the Opposite Party No. 2 for encashment of the matured amount to which Opposite Party No. 2 started delaying. On the contrary, Opposite Parties transferred the said maturity amount of Rs.2,35,000/- in another fixed deposit without the consent of the complainant as alleged. The Opposite Parties did not respond in spite of the legal notice sent by the complainant. Thus, the complainant being denied by the Opposite Parties for payment of the maturity amount, complainant finding no other alternative way filed this instant complaint. Notice was served upon the Opposite Parties but the Opposite Parties did not contest this case by filing written version. Complainant adduced evidence also in support of her contention. POINTS FOR CONSIDERATION - Whether there was any deficiency on the part of the Opposite Parties as alleged?
- Whether the complainant is entitled to the relief (s) as prayed for?
DECISION WITH REASONS All the points are taken up together for the sake of brevity and repetition of facts. On perusal of the copies of folios/ term deposit receipt, it is noticed that the complainant was entitled to get Rs.2,08,445/- which is the principal amount upon maturity along with interest as mentioned below; Term Deposit Receipt | Date | Interest Rate | Principal amount | Due date | No. F 2831 | 30/10/2018 | @6% (1 year) | Rs.50,000/- | 30/10/2019 | No. F 2809 | 03/09/2019 | @6.25% (2 months) | Rs.52,815/- | 03/11/2019 | No. F 2810 | 03/09/2019 | @6.25% (2 months) | Rs.52,815/- | 03/11/2019 | No. F 2811 | 03/09/2019 | @6.25% (2 months) | Rs.52,815/- | 03/11/2019 |
Total= Rs.2,08,445/- As the Opposite Parties had duly signed and issued the said folios that means that the complainant was entitled to receive Rs.2,08,445/- from Opposite Parties- Bank upon maturity but the same was not paid to the complainant. We also found one more Term Deposit Receipt/Folio No. 2890 dated 22/07/2021 where the principal amount was Rs.2,35,000/- along with 5.1 % interest and the due date for the same is 22/07/2013 which was without the consent of complainant. But the Opposite Parties remained silent even after the requests and notice being sent by the complainant who is a housewife in the instant case, seeking for the encashment of her hard earned money. The allegations of the complainant remained unchallenged and unrebutted also. Considering the above said discussions, we hold there was certainly a deficiency in service on the part of the OPs and the Complainant is entitled to the relief(s). Therefore, we are of the view, if a direction be given upon the Opposite Parties to refund term deposit of Rs.2,35,000/- @6% interest along with litigation cost of Rs.3000/-, it would be just and appropriate. Since, interest @ 6% is allowed on the principal amount of Rs.2,35,000/-, we are not inclined to pass any order of cost towards compensation. In the end complainant has succeed in proving her case. Hence, it is ORDERED That the instant case be and the same is allowed ex parte against the Opposite Parties. Opposite Parties are directed to refund Rs.2,35,000/- (Rupees Two Lakhs Thirty-Five Thousand Only) along with simple interest @6%p.a. from the date of Term Deposit Receipt/Folio No. 2890 dated 22/07/2021 and litigation cost of Rs.3000/- (Rupees Three Thousand Only) to the complainant within 45 days from the date of this order, failing which the entire amount shall carry interest @10% from the date of default. If the aforesaid order is not complied with by the Opposite Parties within stipulated time, complainant shall be at liberty to proceed in accordance with law. Dictated and corrected by me | 
