Delhi

New Delhi

CC/1282/2010

Air Vice Marshall J.S. Kumar & Anr. - Complainant(s)

Versus

M/s. Citi Bank N.A, - Opp.Party(s)

18 Feb 2015

ORDER

CONSUMER DISPUTES REDRESSAL FORUM-VI

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

VIKAS BHAWAN, I.P.ESTATE,

NEW DELHI-110002.

 

Case No.CC/1282/10                      Dated:

In the matter of:

1. Air Vice Marshall J.S Kumar,

AVSM, VSM(Retd).

2. Mrs. Sapna Kumar, W/o AVM J.S Kumar

Both R/o D-143, Saket, New Delhi-17

……..COMPLAINANTS

       

VERSUS

1. CitiBank N.A,

        Jeevan Bharti Building, 3^rd FL, Connaught      Circus, New Delhi-110001

 

2. Franklin Templeton Assest Manager (India) Pvt. Ltd.,

        Wochhardt Towers, Level-4, Bandra Kurla     Complex, Bandra (east), Mumbai-400051

                                         ……. OPPOSITE PARTIES

 

ORDER

President: C.K Chaturvedi

               

The facts in short are that complainant took an investment policy of Rs.5 lakhs from OP2, on the suggestion/facilitation of OP1. Complainant paid Rs.5 lakhs on 30.05.08. The agreement from Bombay came on 10.10.08, Annexure 8 (page7). It reflects the amount of Rs.5 lakhs. On 27.10.09, a notice was received asking to pay Rs.7,50,000/- against total capital commitment of Rs.50 lakhs. He immediately wrote back on 10.11.09 (Annexure D page 43) stating that it was by mistake that 50 lakhs in place of Rs.5 lakhs was agreed as per agreement. OP1 also intervened but it did not respond. OP2 proceeded exparte on 22.03.12.

We have considered the facts and evidence. It is a patent case of no consensus-ad-idem, for Rs.50 lakhs, as the agreement received and commitment was of Rs.5 lakhs only. We hold OP guilty of deficiency in issuing a demand notice for a commitment of Rs.50 lakhs. It should have returned Rs.5 lakhs, forthwith. We direct OP2 to return Rs.5 lakhs with interest of 9% from date of deposit i.e. 30.05.08 till realization. We also award compensation of Rs.50,000/- for harassment and deficiency inclusive of litigation expenses to the Complainant.

The order shall be complied with within 30 days of the receipt of the copy of the order; otherwise action can be taken against OP2 under Section 25 / 27 of the Consumer Protection Act.

File be consigned to record room.

Copy of the order be sent to the parties free of cost.

 

 

        Pronounced in open Court on 18.02.2015.

 

 

(C.K.CHATURVEDI)

PRESIDENT

 

 

(S.R. CHAUDHARY)                 (Ritu Garodia)

MEMBER                                  MEMBER