D.O.F:08/10/2020
D.O.O:10/05/2022
IN THE CONSUMER DISPUTES REDRESSAL COMMISSION KASARAGOD
CC.No.134/2020
Dated this, the 10th day of May 2022
PRESENT:
SRI.KRISHNAN.K : PRESIDENT
SRI.RADHAKRISHNAN NAIR.M: MEMBER
SMT.BEENA.K.G : MEMBER
Udayashankar Bhat
S/o Late. S.N. Bhat
Ashraya, Nelkkala
Vidyanagar, Kasaragod – 671123 : Complainant
(Adv: C. Damodaran)
And
The Secretary
The Mugu Service Co-operative Bank Ltd : Opposite Party
No.C. 33(FF)
Mugu, Puthige – 671321
(Adv: Suresh.K.P)
ORDER
SMT.BEENA.K.G : MEMBER
The complaint is filed on the ground of deficiency in service on the part of Opposite Party Bank for withholding of FD amount of the complainant even after the date of maturity.
The brief fact of the case is that the complainant Dr. Udayashankara bhat is a well known doctor and agriculturist in Kasargod for the past more than 30 years and Opposite Party is a Co-operative society. As part of the business promotion Opposite Party through its Kollankandam branch on various occasions collected huge amount from the complainant and his wife as FD. The complainants family members were Covid positive and under treatment for a long time. So the complainant could not attend his clinic and approach the Opposite Party bank for the last more than six months. After recovery from illness when complainant approached Kollakandam branch on 23.09/2020 and came to know that the branch was closed. The complainant personally visited the head office of the bank and requested to close the FD in his name and wife’s name. The complainant’s efforts to close the fixed deposit and receive the amount became futile and complainant apprehends that the intention of Opposite Party is not to pay the deposit. Eventhough Opposite Party promised to repay the amount within a week. None of the deposit is closed nor amount refunded on 23/09/2020 the complainant has paid a sum of Rs. 10,000/- to the opposite Party.. The complainant suffered huge loss of income as his clinic closed for a long time and constrained to close deposit as he was in urgent necessity of money. By not closing the FD Opposite Party has committed deficiency in service negligence and unfair trade practice for which the complainant is seeking a compensation of Rs. 1,00,000/- along with refund of the total FD amount of Rs. 24,67,962/- with 8.5 % interest and cost.
The Opposite Party appeared and filed version through his counsel. According to him the complainant suppressed all facts before the forum and raised baseless allegations. According to the Opposite Party the complainant is not a consumer as per the Consumer Protection Act so the complainant is not maintainable before the forum. The complainant not availed any service as stated in the complaint whatever the complainant done with Opposite Parties is only depositing an amount for making profit and it is not for his livelihood. The transaction is purely a commercial one and no charge is levied on him by the Opposite Party. So he is not rentered any service from the Opposite Party. The Opposite Party has wide range business and the complainant’s intention is to damage the reputation of Opposite Party. There is no deficiency in service on the part of Opposite Party and the complaint is barred by limitation. Hence the complaint is liable to be dismissed. There is no merit or bonafied in the complainant and it is filed as an experimental one. Hence the complaint may be dismissed with compensatory costs.
The complainant filed proof affidavit in lieu of chief examination and the documents produced are marked as Ext A1 series 5 in number and Ext A2. The Opposite Party sought time for evidence on many occasions but not turned up. Heard the complainant the issues raised for consideration are
- Whether there is deficiency in service and unfair trade practice and on the part of Opposite Party?
- Whether the complaint entitled for relief?
- If so what is the relief?
Here the complainant a practicing doctor invested huge amount with Opposite Party as fixed deposit and on maturity when the complainant approached Opposite Party bank it was found closed. The Opposite Party promised to repay the amount within a week but he failed to do so. Hence the complaint for necessary redressal. Ext A1 is the FD receipts for Rs. 1,00,000/- (Rupees One lakh only) Dt. On 02/02/2015, Ext A1 series 2 another FD receipts Dt: 25/07/2016 for Rs. 3laks, Ext A1 series 3 another FD receipts Dt: 04/10/207 for Rs. 4 lakhs. A1 seris 4 is another FD receipts Dt: 25,05, 2018 for Rs. 5 lakhs. A1 series 5 is also an FD receipts Dt: 12/09/17 Rs. 6 Lakh. Thus the complainant has produced FD receipt to the total amount of 24,67,962/- . Ext A2 is the demand letter. The term of FD are different in each receipt. Opposite party raised a contention that the case is time barred. The complainant as given a satisfactory explanation for delay in filing the case. As he and his family are affected by Covid 19 and was undergoing treatment hence they could not approach the opposite Party earlier. The Opposite Party is bound to refund Rs. 24,67,962/-. to the complainant with 8.1/2 % interest on maturity as agreed earlier . But Opposite Party has not produced any material evidence to prove that he has returned the aforesaid amount. The complainant was entitled to get the maturity amount with interest.
In Sumangal Rao and another vs Vijaya Bank CPR (163 SCDRC Karnataka it is held that the complainant was entitled to get the maturity amount with interest at 15% from the date of maturity till payment . But here complainant prayed for 8.5% interest which is agreed by both parties at the time of opening FD. Hence we allowed the prayer of the complainant.
Hence complaint is allowed directing Opposite Party bank to refund Rs. 24,67,962/- with 8.5 % interest from the date of maturity till payment. The Opposite Party is further directed to pay a compensation of Rs.1,00,000/- (Rupees One lakh only) along with Rs. 5000/- (Rupees Five thousand only) as cost to the complainant.
The time for compliance is 30 days from receipt of copy of this judgment.
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
Exhibits
A1series in (5 number) - Fixed Deposit receipts
A2- Demand letter
Sd/- Sd/- Sd/-
MEMBER MEMBER PRESIDENT
Forwarded by Order
Assistant Registrar
Ps/
