Date of filing : 17-06-2013
Date of order : 15-12-2014
IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD
CC.153/2013
Dated this, the 15th day of December 2014
PRESENT:
SMT.P.RAMADEVI : PRESIDENT
SMT.K.G.BEENA : MEMBER
SMT.SHIBA.M.SAMUEL : MEMBER
E.K.Bhavani, Ambabhavani Estate, : Complainant
Baipajal, Borkatte Po,
Karkkala, Uduppi,Dt. 574107
(In Person)
Secretary, Hosdurg Service Co-op.Bank, : Opposite party
Head Office, Kanhangad, Kasaragod.Dt.
(In Person)
O R D E R
SMT.BEENA,K.G,MEMBER
The case of the complainant is that she is a Senior Citizen, had deposited a sum of Rs.2,25,000/- as FD in Hosdurg Service Co-operative Bank Ltd on 21-04-2011 for a period of one year. She went to the bank on 5-3-2012 to close the deposit premature for the purpose of medical expenses. The then secretary of the bank advised her to raise a loan to meet the expenses instead of closing the FD. Accordingly secretary also assured that the loan account will be closed at the maturity of the deposit and the balance will be credited to the SB account of the complainant. The bank did not do the needful on the date of maturity. The opposite party did not issue any intimation or notice to this effect. After a lapse of 10 months the bank called the complainant over telephone and asked to close the loan account. On 27-02-2013 complainant approached opposite party bank to close the loan account. Then opposite party bank suggested her to come on the next day. On 28-08-2013 she again approached the opposite party and requested to close the loan account. Then the bank instructed to her to pay a sum of Rs.2,30,950/- lumpsum before adjusting her FD. The instruction has made her to forclose some other FD prematurely so as to mobilize the required fund. The opposite party bank also assured that an FD with a loan will be closed suo-moto and settled at the time of maturity. But they failed to do so on account of this gross negligence the complainant was put to monetary loss and mental strain. Hence the complaint.
2. Opposite party filed version and admitted that FD amount of the complainant in their bank for a total amount of Rs.2,25,000/- with 10.5% interest for one year. Complainant also availed loan for an amount of Rs. 2,02,500/- relating to FDs. The interest charged on the loan is 2% excess than FD’s interest. Opposite party further submits that complainant has not given her correct address to the bank. The excess interest charged from the complainant is repaid to her SB Account by the bank. Loan relating to FDs doesnot carry over due interest. So the over due interest charged from the complainant is deposited to her account. The opposite party bank during annual inspection of the accounts found that the complainant’s accounts are over due and hence the complainant was contacted through telephone to settle the accounts.
3. Complainant’s husband Sri.P.K.V.Nambiar filed authorization letter and affidavit in lieu of chief examination. Ext.A1 marked. Opposite party filed affidavit and documents. Opposite party is cross examined as DW1. Exts.B1 to B15 marked. Both sides heard and documents perused.
4. The question raised for consideration are:
1 Whether there is deficiency in service ? ( Whether Opposite party Bank informed
the date of over due of the loan to the complainant)?
2 If so, what is the relief?
5. Issue No.1: It is admitted in the version, that the complainant had FDs for a total amount of Rs.2,25,000/- with opposite party bank. When the complainant approached opposite party to close the FD prematurely for the treatment of her husband, the then secretary advised her to take a loan by keeping the FD as security. She availed the loan with 2% higher interest than the deposit. It is also admitted in the version and affidavit filed by the opposite party that on the date of annual inspection of account the opposite party found that the complainant’s accounts on Exts.B1 to B5 was over due and hence the complainant was contacted telephonically to settle the account on Exts B1 to B5. Complainant closed the loan account over due on 28-02-2013 after the lapse of 10 months with a total amount of Rs.2,30,950/- through her SB Account No.16676. PW1 in cross-examination deposed before the Forum that he has not received any intimation about the maturity of FDs and over due of the loan. While perusing Exts B1 to B15 with version and affidavit of DW1 we are of the opinion that opposite party failed to inform the date of maturity of FDs and loan over due to the complainant in time which is specifically admitted in version and affidavit filed by DW1 that during annual inspection of of account in the bank then only opposite party found that the complainants accounts are overdue, that is after the lapse of 10 months of maturity of FDS.. After understanding the mistake opposite party waived the over due interest on the loan infavour of the complainant amounting Rs.3,474/- on 1-3-2013 as per Ext.B8 the said amount is deposited by the opposite party in the account of the complainant. Complainant also availed the facility of extending her fixed deposits in EXts B1 to B5 for another one year with effect from 21-04-2012 i.e. endorsed on Exts B1 to B5. Complainant had also another FD with opposite party for a sum of Rs.50,000/- for one year from 29-09-2010 that is subsequently renewed in each year. Exts.B9 to B14 are the attested copies of FD certificates. Ext.B15 is another FD for a sum of Rs.40,000/- for a period of one year from 29-09-2010 that is also renewed in each ear. All these facts proves that complainant Smt. E.K.Bhavani is a good customer of opposite party. Usually an FD with a loan will be closed suo-moto and settled at the time of maturity but here opposite party failed to do so in time this laches on the part of opposite party amounts to deficiency in service, due to this complainant sustained monitory loss and mental strain. Opposite party is bound to compensate loss and pain of the complainant..
6 Issue No.2: Due to the deficiency in service on the part of opposite party complainant was constrained to forclose some other FDs with opposite party mobilize funds to close the loan in lumpsm. This caused a loss of Rs.2573/- to her by way of interest. She is entitled for the same with compensation and cost. Hence the complaint allowed directing the opposite party to refund Rs.2573/- to the complainant with a compensation of Rs.5000/- and Rs.3000/- as cost to be paid within 30 days from the date of receipt of copy of the order.
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
A1. Photocopy of Pass book of Bhavani.E.K and Vinaya.E.K.
B1. Photocopy of FD Deposit Receipt No.045310 for an amount of Rs. 50000/-
B2.Photocopy of FD Deposit Receipt No.045311 for an amount of Rs. 50000/-
B3.Photocopy of FD Deposit receipt No.045312 for an amount of Rs.50000/-
B4.Photocopy of FD Deposit receipt No.045313 for an amount of Rs.50000/-
B5.Photocopy of FD Deposit receipt No.045314 for an amount of Rs.50000/-
B6. Photocopy of relevant page of Bylaws
B7. FD Maturity Status
B8.Account Statement from 18-10-2011 to 05-08-2013
B9.5.Photocopy of FD Deposit receipt No.041804 for an amount of Rs.50000/-
B10.Photocopy of FD Deposit receipt No.041805 for an amount of Rs.50000/-
B11.Photocopy of FD Deposit receipt No.041806 for an amount of Rs.50000/-
B12.Photocopy of FD Deposit receipt No.041807 for an amount of Rs.50000/-
B13.Photocopy of FD Deposit receipt No.041808 for an amount of Rs.50000/-
B14.Photocopy of FD Deposit receipt No.041809 for an amount of Rs.50000/-
B15.Photocopy of FD Deposit receipt No.041810 for an amount of Rs.50000/-
PW1.P.K.V.Nambiar
DW1.K.V.Kunhikannan
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
Pj/ Forwarded by Order
SENIOR SUPERINTENDENT
