Judgment : Dt.15.1.2018

Shri S. K. Verma, President

            This is a complaint made by one (1) Sri Sanoj Singh, (2) Sri Subodh Singh & (3) Smt. Bimala Devi all are under C/o Shiv Sankar Roadways, A 41/C, Parui Daspara Road, Nabapally (Function Math), Behala, P.S.-Parnasree, Kolkata-700 061 against Senior Manager, Punjab National Bank, Behala Branch, 567/2, Diamond Harbour Road, P.S.-Behala, Kolkata-700 034, OP, praying for a direction upon the O.P. to submit statement of accounts of the overdraft loan Account No.1427009300013828 in details till forfeiture of the security namely KVPs and NSCs pledged with the Bank in respect of the amount declared as non-performing asset and amount of interest realized in between 3.12.2014 and 4.3.2016, a direction upon the OP to return the amount of interest of Rs.23,890/- realized during the period 3.12.2014 and 4.3.2016 and to pay compensation of Rs.5,00,000/- and to pay Rs.15,000/- as litigation cost and to return the rest KVPs and NSCs to the Complainants lying with the Bank with an amount lawfully entitled to and loss suffered by the Complainants.

            Facts in brief are that Complainants jointly used to enjoy overdraft loan account being No.1427009300013828 which was opened on 13.5.2010 and availed overdraft limit of Rs.4,60,000/-. The said benefit of overdraft loan was permitted to be operated on pledge of KVP and NSC owned and possessed by Complainants. Due to non-operation and default of payment, the said account was recorded as non-performing asset. But the Complainants were served delayed notice dt.22.7.2015, arbitrarily and purposefully claiming Rs.5,54,156/- and further interest from 1.3.2015 to till payment in full. Complainant exercised best efforts to their capacity for making payment, but OP Bank, vide letter dt.4.11.2015 they demanded Rs.41,000/- as interest with further interest from 1.10.2015. OP, Bank, further by letter dt.4.3.2016 apprised the Complainants that due to non-servicing of interest, the account became non-performing asset on 31.12.2014 and as per Bank guidelines Bank has authority to forfeit the KVP and NSCs pledged with the Bank and credited the maturity proceed to liquidate the dues. It was also informed that overdraft limit was cancelled with effect from 4.3.2016. In spite of said declaration the overdraft benefit was cancelled. OP Bank was aware of the maturity value of the KVP and NSCs which is much more than the loan amount with interest. But the OP in deceitful manner allowed the amount alive to claim interest for wrongful gain knowingly well the said account has been declared as a non-performing asset since 31.12.2014. Further, Bank intentionally and purposefully withheld the forfeiture of KVPs and NSCs with a view to fetch unlawful money and caused loss to Complainants. OP did not inform the Complainants about the status and maturity value of KVP & NSC. OP, Bank realized excess amount of Rs.23,890/- in the form of interest for 15 months between the date of declaration of non-performing asset and the date of forfeiture. Complainants by the letter dt.6.2.2017 through Jhimlee Paul (Bagchi), Ld. Advocate, requested the OP to furnish statement of accounts and status of the pledged KVP and NSCs with maturity value. But no satisfactory reply was given, which makes it clear that the Bank did not act with clean hands. So, Complainant filed this case.

            OP filed written version and denied the allegations of the complaint. Further, OP has stated that Punjab National Bank, Behala Branch, sanctioned a overdraft of Rs.4,10,000/- on 13.5.2010 against pledge of KVP and NSC, the maturity dates were 5.1.2018, 11.3.2018 and 19.6.2018. At the request of the Complainants, the overdraft limit was increased to Rs.4,60,000/-. Complainants, after deposit of Rs.1,20,000/- on 27.1.2014, did not deposit any amount. Complainants did not pay even interest and the over draft account was classified as NPA. Complainants did not take any step for regularization of the account despite of receipt of notice. Thereafter Complainants deposited a cheque of Rs.1,00,000/- in the account on 28.9.2015. But since Complainants did not live up to their assurances and did not deposit further amount to regularize the account, OP issued letter df.4.11.2015 requesting to deposit the overdue amount within seven days, failing which the OP would be constrained to encash the KVP and NSCs. Since the above letter had no effect the OP sent 36 KVPs and one NSC to post office  for premature encashment of the same in order to liquidate the overdraft account.  17 nos. of KVP remained with the OP for return of the  same to the Complainants because the said KVPs would mature on 11.3.2018 and 19.6.2018. On receipt of the proceeds of prematurely encashed KVP and NSC, the OP sent letter dt.4.3.2016 to the Complainants advising that 36 KVPs and 1 NSC had been encashed and the overdraft limit had been treated to have been cancelled. In the said letter, the Complainants had also been requested to call at the Branch Office for collecting the remaining KVPs which are lying with the Bank. But, the Complainants did not collect the KVPs from the OP. The proceeds of abovesaid 36 KVPs and 1 NSC were credited to the account. Complainants sent a legal notie dt.6.2.2017 to the OP through their Advocate Smt. Jhimlee Paul (Bagchi) wherein some frivolous allegations were made. In spite of OPs above reply, Complainants lodged complaint case CC No.236 of 2017 with the Ld. District Forum and filed this case. Further, OP has specifically denied the allegations of the complaint and prayed for dismissal of the complaint.

Decision with reasons

            Complainant filed affidavit-in-chief wherein Complainant reiterated the facts mentioned in the complaint petition. Thereafter OP filed questionnaire and Complainant filed affidavit-in-reply. Similarly, OP filed evidence to which Complainant filed questionnaire and OP filed affidavit-in-reply.

            Main point for determination is whether Complainant is entitled to the reliefs as prayed for.

            At the outset, Complainant has prayed for statement of accounts of the overdraft loan account. On perusal of the record, it appears that Complainant filed this case on the basis of the accounts which he had and the copy of that account is filed herewith. As such, this prayer of Complainant does not appear to be justified and so it cannot be allowed. Further, Complainant has prayed for a direction upon the OP to return the interest of Rs.23,890/- realized during the period 3.12.2014 and 4.3.2016 to the Complainants. This claim has been made by the Complainant on the ground that once his account was declared as NPA nature, interest can be levied or applied to that account. Ld. Advocate for Complainant, drew the attention of the Forum towards it. However, in reply, Ld. Advocate for OP submitted that NPA does not mean that no interest would be levied and unless the account is closed, the interest is levied on any account and the party has liability to pay it.

            As such, we are of the view that since Complainant failed to establish this allegation, there is no ground to allow this prayer.

            Complainant has prayed for compensation of Rs.5,00,000/- and litigation cost of Rs.15,000/-. In this regard, it is submitted that since Complainant failed to establish that he is entitled to the relief of return of interest from the OP, he may not be awarded any compensation or litigation cost.

            Complainant has prayed also for return rest of the KVP and NSCs lying with the Bank with the amount lawfully entitled to and loss suffered by the Complainant. In this regard, Complainant has not furnished any list from where it can be said that Complainants’ NSCs and KVPs are still lying with the OP. Complainant himself is not aware as to which of the KVP and NSCs are lying with the OP and how they can ask for return of those KVPs and NSCs and further we make it clear that if any KVP or NSC of the Complainant is lying with the OP, whose maturity date has still not arrived, it is the liability of the OP, Bank, to return those to the Complainant. We are not in a position to furnish the number and amount of the KVP and NSCs which are lying with the OP Bank because neither the Complainant nor the OP has furnished any detail number of amount of KVP and NSCs is still lying with the Bank.

            As such, there is no ground to allow the prayer of the Complainants.

Hence,

ordered

             CC/236/2017 and the same is dismissed on contest.