06/11/15

HON’BLE JUSTICE MR. KALIDAS MUKHERJEE, PRESIDENT          

             These are the two Appeals bearing nos.FA 876 of 2013 filed by OP No.5 of the complaint and FA 716 of 2013 filed by OP Nos.1 to 4 of the complaint against the judgment and order passed by Learned District Forum, Darjeeling in CC 1/D/13 allowing the complaint and directing the OPs jointly and severally to pay Rs.73,975/- being maturity amount along with interest @ 10% with effect from the date of maturity till realisation, pay compensation of Rs.10,000/- and litigation cost of Rs.8,000/- to the Complainants.  The OPs were further directed to deposit Rs.10,000/- with the SCWF.

            The case of the Complainants/Respondents, in short, is that they had jointly deposited the sum of Rs.55,000/- on 22/07/89 with ANZ Grindlays Bank, Darjeeling in Reinvestment Deposit Certificate having S.B. A/c No.13128.  The date of maturity of the said amount was on 22/07/92 and the maturity amount was Rs.73,975/-.  After depositing the said amount the Complainants had to leave for Brunei for employment of Complainant No.1 and they remained there for a considerable period of time.  After returning from Brunei to Darjeeling the Complainants came to learn that the ANZ Grindlays Bank was taken over by Standard Chartered Bank with all its assets and liabilities and, as such, the Complainant on 24/01/12 sent a letter to customer care unit, Chennai praying for refund of the said fixed deposit amount.  In reply the Standard Chartered Bank replied that as per provision of Banking Companies (period of preservation of records) Rules, 1985, the Bank is required to preserve the records relating to a period of not less than 8 years immediately preceding the current calendar year and as the request was made by the Complainants beyond that period of 8 years, they were unable to trace the information as required by them.  The Complainants again wrote a letter to the ANZ Grindlays Bank, Kolkata Branch on 29/08/12 for refund of the maturity amount, but did not get any reply.  Pro. Manager of Standard Chartered Bank, 19, N.S. Road, Kolkata-700 001 by letter dated 21/09/12 informed the Complainants that the erstwhile ANZ Grindlays Bank was taken over by the ICICI Bank and expressed their inability to provide the Complainants with any clarification regarding the said deposit.  The Complainants vide letter dated 20/03/11 wrote a letter to the Manager, ICICI Bank, Darjeeling, but to no effect.  Under such circumstances, the complaint was filed before the Learned District Forum.

            The Learned Counsel for the Appellant has submitted that the date of maturity was 22/07/92, but the Complainant did not claim the amount for a period of more than 18 years.  It is submitted that the Complainant did not file any copy of passport or other documents showing that they remained abroad for the period of 20 years.  It is contended that the ANZ Grindlays Bank came to be merged with Standard Chartered Bank and the Standard Chartered Bank at Darjeeling was taken over by ICICI Bank.  It is submitted that as per RBI circulars fixed deposit registers are preserved for the period of 8 years.  It is contended that it was reinvestment deposit, but not a case of auto renewal and the alleged deposit amount is irretrievable.  It is submitted that the complaint is barred by limitation and ATM card was sent to the Complainant by ICICI Bank which was accepted by them.  The Learned Counsel for the Appellants has referred to the decision reported in IV (2011) CPJ 653 (NC) [Narinder Mohan Wadhera (Dr.) vs. State Bank of India & Anr.].

            The Learned Counsel for the Respondent has submitted that the deposited amount was not withdrawn by the Complainants and several letters were issued to the Bank, but to no effect.  It is submitted that the deposit will continue and the interest will accrue till surrender of the receipt. 

            We have heard the submission made by both sides and perused the papers on record.  It appears from the copy of the Reinvestment Deposit Certificate that the sum of Rs.55,000/- was deposited by the Complainants with the ANZ Grindlays Bank on 22/07/89.  The date of maturity was on 22/07/92 and the amount on maturity was Rs.73,975/-.  It has specifically mentioned in the said certificate that the deposit was for three years.  Therefore, the Learned District Forum erred in law in presuming that the said deposit was to be reinvested automatically on maturity if not claimed by the depositor.  Evidently, it was not a case of auto renewal.  Secondly, under the Banking Rules the Bank was under obligation to preserve the records of such deposit for a period of 8 years only.  On maturity of the amount on 22/07/92 there was no claim and the cause of action arose from 22/07/92.  The complaint was filed in the year 2013.  It is well settled that by writing letters the period of limitation cannot be extended.  Under such circumstances, the complaint was barred by limitation. 

            Having heard the Learned Counsel for the parties and on perusal of the papers on record, we are of the considered view that the Learned District Forum was not justified in allowing the complaint. 

            The Appeals are allowed.  We set aside the impugned judgment and order.  The petition of complaint is dismissed.  This judgment will govern both the Appeals as stated above.