IN THE CONSUMER DISPUTES REDRESSAL FORUM, PATHANAMTHITTA.

Dated this the 27^rd day of September, 2010.

Present:- Sri. Jacob Stephen (President)

Smt. C. Lathika Bhai (Member)

Sri. N. Premkumar (Member)

C.C.No.36/10 (Filed on 04.03.2010)

Between:

Nandakumaran Pillai,

Scholars, Thonnalloor,

Pandalam

(By Adv. Sini. K.J)                                              .....     Complainant

And:

The Kulanada Service Co-op: Bank-

Ltd.No.2133 rep. by its Secretary.

(By Adv. K. Sheeja)                                            .....     Opposite party.

O R D E R

Sri. Jacob Stephen (President):

                   The complainant has filed this complaint against the opposite party for getting a relief from the Forum.

                   2. The complainant’s case is that the complainant had deposited an amount of ` 66,323 with the opposite party bank as fixed deposit on 27.2.07 vide fixed deposit receipt No.810 for a period of 12 months at the rate of 9% interest per annum.  On the date of maturity of the said fixed deposit, the complainant approached opposite party for the fixed deposit amount along with its interest due.  But the opposite party evaded from the repayment.  The non-payment of the fixed deposit amount and its interest by the opposite party is a clear deficiency in service and the opposite party is liable to the complainant for the same.  Hence this complaint for the realisation of the fixed deposit amount with its interest along with compensation of ` 15,000 and cost from the opposite party.

                   3. The opposite party filed a version with the following contentions:-  This petition is not maintainable before this Forum as the Asst. Registrar of Co-operative Society submitted an enquiry report making it clear that the former secretary is liable for the misappropriation in the opposite party bank. Hence the only remedy available for the petitioner is to go for arbitration.  The former secretary of the opposite party bank is under suspension and proceedings are already initiated against him for the misappropriation.  The earlier director board members and the former secretary along with the connivance of some depositors have engaged themselves in the illegal practice of withdrawing the funds of the bank without surrendering the fixed deposit receipts and claiming the same amounts again fraudulently.  The opposite party is not responsible for any exorbitant assurance made by any former office bearers in contravention of the rules framed by the apex banks the Govt. with respect to the rate of interest.  With the above contentions, the opposite party prays for the dismissal of the complaint as they have not committed any deficiency in service.

          4. On the basis of the above pleadings of the parties, the following points are raised for consideration:

(1) Whether the complaint is maintainable before the Forum?

(2) Whether the complainant is entitled to get a relief as prayed for in the complaint?

(3) Relief and Costs?

          5. The evidence of this complaint consists of the proof affidavit of the complainant in lieu of his chief examination and Ext.A1.  For the opposite party, no oral or documentary evidence adduced.  After closure of evidence, both sides were heard.

          6. Point Nos.1 to 3:-  The complainant’s allegation is that the amount deposited by the complainant with the opposite party as fixed deposits is not returned on its maturity.  Opposite party’s contention is that the former bearers of the opposite party had mismanaged the bank and they have committed misappropriation of the funds of the bank and certain proceedings are going on against the former office bearers of the bank.  In the circumstances, the opposite party is not liable to the complainant.

          7. In order to prove the complainant’s case, the complainant had filed a proof affidavit in lieu of his chief examination narrating his case along with one document.   On the basis of the proof affidavit the document produced is marked as Ext.A1.  Ext.A1 is the fixed deposit receipt No.810 dated 27.2.07 for ` 66,323 issued by the opposite party in the name of the complainant.  For the opposite party, no oral or documentary evidence.

          8. On the basis of the contentions of the parties, we have perused the entire materials on record and found that the opposite party had received an amount of ` 66,323 from the complainant as a fixed deposits agreeing to repay the fixed deposit amount with its interest at the rate of 9% per annum on its maturity dated 28.2.08.  The complainant’s allegation is that he had not received any amount deposited by him from the opposite party vide Ext.A1.  There is no evidence to show that the money due to the complainant vide Ext.A1 receipt is paid to the complainant.  In the circumstances, we find that the complainant is entitled to get the amount due to him as per Ext.A1 fixed deposit receipt and the opposite party is liable to the complainant.  The non-payment of the amount by the opposite party is a clear deficiency in service as the complainant is a consumer of the opposite party.  Hence we find that this complaint is maintainable and allowable with modifications.  Since the complainant is entitled to get the interest of the amount deposited, separate compensation is not allowable. 

          9. In the result, this complaint is allowed thereby the 1^st opposite party is directed to pay ` 66,323 (Rupees Sixty six Thousand Three hundred and twenty three only) with its interest at the rate of 9% per annum from 27.2.07 till this date along with cost of ` 1,000 (Rupees One Thousand only) to the complainant within 30 days from the date of receipt of this order, failing which the complainant is allowed to realise the whole amount ordered herein above from the opposite parties with interest at the rate of 12% from today.

          Declared in the Open Forum on this the 27^th day of September, 2010.

                                                                                              (Sd/-)

                                                                                      Jacob Stephen,

                                                                                        (President)

Smt. C. Lathika Bhai (Member)              :         (Sd/-)

Sri. N. Premkumar (Member)                 :         (Sd/-)

Appendix:

Witness examined on the side of the complainant:  Nil

Exhibits marked on the side of the complainant:

A1     :  Fixed Deposit Rreceipt No.810 dated 27.2.07 for ` 66,323 issued by  

             the opposite party to the complainant.

Witness examined on the side of the opposite party:  Nil

Exhibits marked on the side of the opposite party:  Nil.

                                                                                           (By Order)

Copy to:- (1) Nandakumaran Pillai, Scholars, Thonnalloor, Pandalam

                 (2) The Secretary, Kulanada Service Co-op: Bank Ltd.No.2133.

                 (3) The Stock File.