FINAL ORDER/JUDGEMENT
Smt. SAHANA AHMED BASU, Member,
The facts, as stated in the complaint and emerged from the documents attached with it, are that on 08.02.2008 the Complainants had approached the OPs for a housing loan of Rs.5,00,000/- under floating Apna Ghar Scheme being Loan Account Number 00286660000364 for a monthly installment of Rs.5605/- for a tenure of 180 months. As collateral sureties to the said house loan the Complainants submitted 14 KVP (Kishan Vikash Patra) to the OPs being KVP No. 50CD955725 to 50CD955735 ( total 11 in numbers) amounting to Rs.1,10,000/- (maturity amount Rs.2,25,137/-) and KVP No. 04GG718882 to 04GG18884 (total 3 in numbers) amounting to Rs.1,50,000/- (maturity amount Rs.3,00,000/-). In the year 2014 the Complainants calculated that total due in their Home Loan Account was Rs.4,47,491/-. As the total maturity amount from the KVP certificates were Rs.45,25,000/- (225000 + 300000) therefore the Complainants approached the OPs for adjusting the Loan amount from the matured KVP certificates which were kept as mortgage with the OPs. The OPs adjusted the maturity amount of KVP certificates being Nos 50CD955725 to 50CD955735 (face value of Rs.1,10,000/- and maturity amount Rs.2,25,000/-) with the loan account on 19.05.2014. But on 21.11.2015 the Complainant was informed vide letter that three KVP certificates being Nos 04GG718882 to 04GG71884 had been misplaced from the custody of the OPs. As per instruction of the OPs the complainants have intimated the Survey Park Police station about the loss of KVP certificates in question. Further the said loan amount had already repaid by the Complainant and the OPs issued NOC dated 09.01.2019 in favour of the Complainants. Till date despite of making several communications the OPs had not been return the said KVP certificates. Finding no other alternatives the Complainants has approached this Commission praying relief/ reliefs.
The Complaint is contested by the OPs by way of a WV denying the allegations made out in the Complaint Petition. OPs have admitted that KVP certificates were obtained from the Complainants as collateral sureties against that loan amount of Rs.5,00,000/- availed by the complainant under Apna Ghar Scheme being Loan Account No. 00286660000364 for 180 months on 08.02.2008. The said KVP Certificates were die to be matured in the year 2014 and the Complainants approached the OPs to prepay the loan amount upon adjustment of the said 14 Nos KVP certificates, out of which 11 Nos of KVP Certificates have been adjusted against the due loan amount, but 3 Nos of KVP Certificates being Nos 04GG718882 to 04GG77884 were not adjusted as those were lost. It is submitted by the OPs that loss of the said KVP is already known to the Complainants long back in the year 2014 itself and accordingly, as per instruction and/or rather mutual settlement and/or consent by and between the parties the OPs had lodged a complaint before the Officer–in–Charge, Park Street Police Station, Kolkata – 700016 on 26.06.2015 and thereafter on 12.08.2016 and in between a complaint was also lodged by the Complainant on 01.12.2015 before the Officer-in-Charge, Survey Park Police Station, Santoshpur, Kolkata – 700075 and thereupon with the consultation and advice of the Concerned Post Office for issuance of the said duplicate certificate of the KVP, the Complainants have submitted an Indemnity Bond to the said concerned Post Office, a Bank Gurantee was submitted thererto by the OPs to the concerned Post Office. An application was also made to the Office of the Post Master Baruipore by the OPs on behalf of the Complainants in connection with the issuance of duplicate copy of said KVP Certificates bearing the application reference no. D-9/03/KVP/01/16-17 in lieu of original ones on 29.01.2016 and the Senior Post Master, Park Street Head Post Office on 18.05.2016. In spite of all facts being known to the Complainants, they are trying to mislead the Commission stating that OPs are not returning the 3 nos. of KVP in question. The Concerned Post Office to issue duplicate certificates in favour of the Complainants and thereby the Concerned Post office should be made a party. Question of suffering financial loss, extreme mental agony and hardship due to act of the OPs does not and cannot arise.
In support of their case both the parties have tendered evidence supported by an affidavit and also relied upon documents annexed with their petitions and also replied to the questionnaires vise-versa set forth by their adversaries.BWAs are also filed by the parties. We have heard argument on merit and have also perused the record.
Ld. Advocates for the parties argued as per their written submissions. The Complainants have relied upon the order passed by the Hon’ble National Commission in Consumer Case No. 2218 of 2018 – Binod Dokania& Mrs. Sushma Dokania Vs. IDBI Bank Limited, decided on 20.02.2023 which has upheld the claim of the Complainants who alleged that the OPs have failed to return the documents which were entrusted to it and it has been held that the OPs have failed to discharge its obligation to the Complainants.
In the instant case, the OPs have admitted the loss of 3 nos. original KVP Certificates bearing nos. 04GG718882 to 04GG718884 taken as collateral sureties against the Floating Apna Ghar Scheme under the Loan Account no. 00286660000364 on 08.02.2008 from the Complainants. On perusal of the record it is found that on 15.06.2015 the OPs had noticed that 3 nos. KVP Certificates in question are missing and/or lost from the safe custody of OPs andthe OPs have conveyed the same to the Complainantsvide letter dated 21.11.2015. Ld. Advocate for the OPs argued that as per instruction and/or rather mutual settlement and/or consent by and between the parties the OPs have lodged a complaint at Park Street Police Station on 26.06.2015 and thereafter on 12.08.2016. An application madeon 29.01.2016 to the Office of the Post Master Baruipore by the OPs on behalf of the Complainants in connection with the issuance of duplicate copy of said KVP Certificates bearing application reference no.D-9/03/KVP/01/16-17 in lieu of loss of original ones.Ld. Advocate for the OPs alleged that the concerned Post Office did not issue duplicate KVP Certificates till date. OPs are not liable for the deficiency in service on the part of the concerned Post Office. Therefore the OPs have no laches and/or negligence in dealing collateral surety of the Complainants.
During the final hearing Ld. Advocate for the OPs submitted that, negligence of the OPs as alleged by the Complainants with regard to the loss of the said 3 nos. of KVP Certificates are only notional as because due to the loss of certificates the amount of money covered under the certificate can never be lost or cannot be decreased of its value, rather interests are being added on such deposits by the Post Office in its/their normal rules and laws and the same are renewed automatically or on instruction as may be advised by the Complainants or as per the applicability in the facts and circumstances of the case . Therefore no loss or damage happened to the Complainants in any manner whatsoever the reasons that the amount is secured by the said KVP Certificates is still intact if not withdrawn by the Complainants.
In view of the aforesaid facts, there is no dispute that the Complainants have repaid the said loan amount under the Floating Apna Ghar Scheme being Loan Account No. 00286660000364 and OPs have issued No Objection Certificate dated 09.01.2019 in favour of the Complainants, the only issue which now remains is loss of KVP Certificates bearing nos. 04GG718882 to 04718884 deposited with the OPs. Undoubtedly these Certificates are essential to establish the claim of maturity amount. The OPs have not disputed that they have failed to return the original KVP Certificates bearing nos. 04GG71882 to 04GG718884 entrusted to them by the Complainants. As such, there is gross negligence and deficiency of service on the part of the OPs which has been proved. Loss to the Complainants is therefore, manifest. Absence of those KVP Certificates have certainly made it difficult for the Complainants to put the maturity claim. The essential nature of these KVP Certificates is vouched safe by the fact that the OPs had required the Complainants to deposit the same in order to secure the home loan advanced to the Complainants.
Based on the foregoing facts and circumstances of the case we find merit in the Consumer Complaint. The same is therefore, allowed.
The OPs are jointly and severally directed to:
- Pay the maturity amount of Rs.3,00,000/- of the KVP Certificates bearing nos. 04GG718882 to 04GG718884 to the Complainant along with simple interest @ 8% p.a. from the date of maturity.
- Pay Rs.10,000/- to the Complainants towards litigation cost.
- Pay Rs.25,000/- to the Complainants towards mental agony and harassment.
- The order shallbe complied with by the OPs within a period of 06 weeks from the date of this order failing which the maturity amount shall be paid with interest @ 12% p.a.
Liberty be given to the complainant to put the order in execution, if the OP transgress to comply the order.
