DISTRICT CONSUMER DISPUTES REDRESSAL FORUM PALAKKAD
Dated this the 30th day of August 2017
Present : Smt.Shiny.P.R. President
: Smt.Suma.K.P. Member Date of filing: 24/05/2017
: Sri.V.P.Anantha Narayanan, Member
(C.C.No.83/2017)
Kalyanakrishnan.K.P,
S/o Madhavan Nair,
Vazhikkat Kulambil House, - Complainant
Kayiliyad PO, Chalavara Panchayath,
Ottappalam Taluk.
(Adv. V.Shanmughanandan)
V/s
1.The Manager, - Opposite party
HDFC Bank, Sicotowers,
Cherpulassery Branch,
Cherupulassery, Palakkad
O R D E R
By V.P.Anantha Narayanan. Member
Brief Facts of the complaint
The complainant filed this complaint under section 12 of the Consumer Protection Act 1986 for getting relief from opposite party. The case of the complainant is stated as follows:
The complainant became a member of “REINV DEP - SR.CITIZEN” Scheme in the opposite party bank and for that Rs.39,811/- (Rupees thirty nine thousand eight hundred and eleven only) was invested on 26.04.2015 from the account No. of the complainant: 50300041152212 - for a period of 12 months and one day. This investment carried 9% interest; the maturity date of this investment was 27.04.2016 and the maturity value was Rs.43,535/- (Rupees forty three thousand five hundred and thirty five only). For this investment made by the complainant he was given by the opposite party bank “Deposit Confirmation/Renewal Advice Receipt”. Complainant joined the scheme on the basis of statements made by the opposite party bank about this scheme. But, according to the complainant, the opposite party bank did not give the complainant the maturity value of the investment on its maturity date (27.04.2016), although the complainant visited the opposite party bank several times. Since the maturity value was not received on 27.04.2016, the complainant pleads that he had to meet his needs for treatment and other purposes by borrowing from other persons and establishments; he also had to suffer mental agony and financial difficulties by this act of the opposite party of not giving him maturity value of his investment on its maturity date. Hence, according to the complainant, this act is illegal and amounts to deficiency in service committed by opposite party. Therefore he prays to the Hon’ble Forum to direct the opposite party to pay the complainant Rs.43,535/-(Rupees forty three thousand five hundred and thirty five only) along with 18% interest plus a compensation of Rs.1,00,000/- (Rupees one lakh only) for suffering and financial difficulties borne by the complainant plus Rs.2,00,000/- (Rupees two lakhs only) for mental agony suffered by him plus litigation expenses incurred by him.
This Forum entertained the complaint and issued a notice to the opposite party bank for their appearance. Opposite party did not enter appearance and therefore called absent and set ex-parte.
Complainant filed chief affidavit and produced a document marked as Ext.A1. Opposite party did not produce any documents.
On the basis of the petition and records before us, we frame the following issues.
- Whether the opposite party committed any deficiency in service and/or unfair trade practice against the complainant ?
2.If so, what is the relief and cost?
Issues 1 & 2
Complainant invested Rs.39,811/- (Rupees thirty nine thousand eight
hundred and eleven only) in “REINV DEP - SR.CITIZEN” Scheme in the opposite party bank on 26.04.2015. The deposit was made for a period of 12 months and 1 day and the rate of interest was 9% per annum. On the maturity date (27.04.2016), the complainant did not get the maturity value of the above deposit Rs.43,535/-(Rupees forty three thousand five hundred and thirty five only). As per the receipt, namely, “Deposit Confirmation/Renewal Advice Receipt” issued by opposite party bank to the complainant, marked as Ext.A1, it is indicated, the amount of deposit, deposit start date, period of deposit, rate of interest, deposit maturity date and maturity amount. According to the complainant, inspite of several visits made by the complainant to the opposite party bank, the opposite party bank did not pay him the maturity value of Rs. 43,535/-(Rupees forty three thousand five hundred and thirty five only); hence, the act of the opposite party amounts to unfair trade practice and deficiency in service. Therefore the complainant prays to the Hon’ble Forum to pay him the maturity value with 18 percent interest and compensation of Rs.3,00,000/- (Rupees three lakhs only) for his sufferings and financial difficulties and mental agony suffered plus litigation expenses incurred.
The opposite party did not file version. Hence, they were called absent and set ex-parte.
From the documentary evidence produced by the complainant it is clear to us that the complainant has invested on 26.04.2015 Rs. 39,811/- (Rupees thirty nine thousand eight hundred and eleven only) for a period of 12 months and one day in opposite party bank and on the maturity date (27.04.2016), the maturity value of Rs. 43,535/-(Rupees forty three thousand five hundred and thirty five only) should be paid by the opposite party to the complainant. But we observe that the opposite party bank failed to pay the complainant the maturity value even after several visits made by the complainant to opposite party bank for that purpose. Hence we view that opposite party bank has committed deficiency in service and unfair trade practice by not repaying the deposit with interest on the maturity date.
Hence the complaint is allowed.
The opposite party bank is directed to pay to the complainant Rs. 43,535/-(Rupees forty three thousand five hundred and thirty five only) being the maturity value of the deposit made by the complainant in the opposite party bank; further opposite party bank is also directed to pay to the complainant at 9% per annum on Rs. 43,535/-(Rupees forty three thousand five hundred and thirty five only) for a period from the date of filing this complaint (24.05.2017) to the date of payment of maturity value of Rs.43,535/-(Rupees forty three thousand five hundred and thirty five only) towards interest and compensation for mental agony suffered by the complainant. In addition, litigation expenses of Rs.2,000/- (Rupees two thousand only) incurred by the complainant should also be paid to him by the opposite party bank.
This order shall be complied within one month from the date of receipt of this order; or else the complainant shall be entitled to get interest at the rate of 9% p.a from the date of this order till realization.
Pronounced in the open court on this the 30th day of August 2017.
Sd/-
Shiny.P.R.
President
Sd/-
Suma.K.P.
Member
Sd/-
V.P.Anantha Narayanan
Member
Appendix
Exhibits marked on the side of complainant
Ext.A1 - “Deposit Confirmation/Renewal Advice” issued by opposite
party bank to the complainant
Exhibits marked on the side of Opposite party
Nil
Witness examined on the side of complainant
Nil
Witness examined on the side of opposite party
Nil
Cost
Rs.2,000/-
