Haryana

Ambala

CC/298/2014

SUNIL KUMAR - Complainant(s)

Versus

SBI - Opp.Party(s)

JAI DEEP PRASHAR

08 Sep 2017

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AMBALA

 

                                                          Complaint case no.        : 298 of 2014

                                                          Date of Institution         : 31.10.214

                                                          Date of decision   : 08.09.2017

 

Sunil Kumar S/o late Sh. Om Parkash son of Sh. Basesher Dass R/o # 1307/6, Old Post Office road, Ambala City.  

……. Complainant.

 

 

State Bank of India through its Branch manager, Branch office Motor Market, Amala City.

 

….…. Respondents.

 

BEFORE:   SH. D.N. ARORA, PRESIDENT

                   SH. PUSHPENDER KUMAR, MEMBER         

                   MS. ANAMIKA GUPTA, MEMBER                 

 

Present:       Sh. Jaideep Prasher, counsel for the complainant.

                   OP already exparte v.o.d 15.04.2015

 

ORDER:

                   In nutshell, brief facts of the present complaint is that the father of the complainant was having bank account in the State Bank of India, Motor Market, Ambala City and deposited an amount of Rs.13,500/- in the shape of FDR bearing No.324033 dated 13.03.1995 for a period of 27 months at the rate of interest 11% p.a. but the father of the complainant Sh. Om Parkash S/o Sh. Basesar Dass died on 24.08.1997 leaving behind complainant and his brother and sisters being legal heirs. Further submitted that after a long time, complainant came to know about the said FDR, the amount of which had not been withdrawn by the father of complainant and as such complainant approached the OP to make the payment of the amount of said FDR along with interest from 10.03.1995 till its realization and the complainant furnished the requisite documents, as desired by the OP for payment of the said FDR but complainant was astonished to receive cheque dated 02.05.2014 for the amount of Rs.17,233/- only and the complainant alongwith his brother and sister i.e. the legal heirs of Lt. Sh. Om Parkash son of Sh. Basheshar Dass is entitled to the amount of the said FDR alongwith interest up to date i.e from 10.06.1997 to 02.05.2014 @ 11% p.a., since the amount of the said FDR remained deposited with bank of OP and the OP bank had been using the said amount for the lat about 17 years and by using the said cheque for the amount of Rs.17,233/- the OP has deprived the complainant i.e. legal heirs of Lt. Sh. Om Parkash of their legal right of interest on the amount of fixed deposit, which has illegally withheld by the OP from 10.06.1997 to 02.05.2014 which the OP is liable to pay the same to the complainant. Further submitted that due to the negligent act of the OP, the complainant has been deprived the interest from 10.06.1997 to 02.05.2014 on the amount of Rs.17,233/- and as such there is clear deficiency in services on the part of OP.

2.                Upon notice, OP did not appeared before the Court and he was proceeded exparte v.o.d 15.04.2015

3                 To prove his version complainant tendered his affidavit as Annexure C-X along with documents as annexure C-1 to C-4 and closed his evidence.

4.                It is admitted fact that father of the complainant had deposited an amount of Rs.13,500/- in the shape of FDR bearing No.324033 dated 10.03.1995 for a period of 27 months (Annexure C-1) and same was matured on 10.06.1997 and when this fact came to the knowledge of the complainant, he furnished the requisite documents, as desired by the OP for payment of the said FDR. Thereafter, the OP has paid the amount of Rs.17283.00 to the complainant as per Annexure C-2. The main grievance of the complainant is that the OP did not pay the interest since 10.06.1997 to 02.05.2014 on amount of Rs.17,233/- ( fixed in the form of FDR  as per Annexure C-1) from the date of maturity till its payment. As per circular dated August 22, 2008 (Annexure C-3) issued by the RBI as under:                                      “Interest on saving bank accounts should be credited on regular basis whether the account is operative or not. If a fixed Deposit Receipt matures and proceeds are unpaid, the amount left unclaimed with the bank will attract saving bank rate of interest”.

                   On the other hand, OP despite registered notice not pursued the case and he was proceeded against exparte. As such, the contents enumerated in the complaint remained un-rebutted and thus we have no other option except to believe the version as well as documents submitted by the complainant. In this way, OP is deficient in service being not paying the interest for which complainant is legally entitled the same.

5.                Reason recorded above, it is clear that as per Circular issued by RBI (Annexure C-3), the complainant is entitled to get the interest on the amount which was paid by the OP on 02.05.2014 on the rate prevailing at that time because the document Annexure C-3 came to the existence in the year 2008. Hence, the present complaint is hereby allowed with costs which is assessed at Rs.3000/- and Ops are directed to comply with the following direction within thirty days from receipt of copy of the order:-

(i)      To pay interest on saving bank rate on the amount of Rs.17,233/- which was paid by the OP on 02.05.2014 prevailing at that time for the default period i.e.10.06.1997 to 02.05.2014, failing which the interest would carry @ 9%p.a. for the default period till its realization.

                   Copies of the order be sent to the parties concerned, free of costs, as per rules. File after due compliance be consigned to record room.

Announced on :08.09.2017                                   (D.N. ARORA)

                                                                                       President

 

    

     (PUSHPENDER KUMAR)

                                                                                       Member

 

 

             (ANAMIKA GUPTA)

                                                                                       Member