DISTRICT CONSUMER DISPUTES REDRESSAL FORUM-II

U.T. CHANDIGARH

[Complaint Case No:245 of 2010]

                                                           Date of Institution :26.04.2010

                                                            Date of Decision    :11.04.2011

1.    Sant Lal S/o Sh. Ruldu Ram, aged about 60 years,

2.    Ms. Monica Garg D/o Sh. Sant Lal, aged about 30 years,

3.    Mr. Deepak Garg S/o Sh. Sant Lal, aged about 29 years,

(All residents of H.No.151, Green Enclave Colony, V.P.O. Daun, Tehsil and Distt. Mohali. (Punjab).

                                                                   …..Complainants.

V E R S U S

1.      State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. C/o State Bank of Patiala, S.C.O. no.125-126, Sector 17-C, Chandigarh through its President.

2.      Sh. H. K. Singla, Secretary, State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. C/o State Bank of Patiala (Now working as Head Cashier), Sector 4, Panchkula.

          2^nd Address: H.No.51, Sector 10, Panchkula, Haryana.

3.      The Treasurer, State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. C/o State Bank of Patiala, Sector 17-C, Chandigarh.

4.      Sh. A. N. Pahwa, Sh. H. K. Singla, Ex-President/Secretary, State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. (Now Marketing Executive) State Bank of Patiala, Sector 8, Panchkula (Haryana).

……Opposite Parties.

BEFORE:   SHRI LAKSHMAN SHARMA        PRESIDENT

                SHRI ASHOK RAJ BHANDARI     MEMBER

                SMT. MADHU MUTNEJA            MEMBER

Argued By:Sh. Vijay Mangla, Advocate for the complainants.

                   OP already exparte.

PER LAKSHMAN SHARMA, PRESIDENT

                   Sh. Sant Lal along with his two children namely Ms. Monica Garg (daughter) and Mr. Deepak Garg (son) has filed this complaint under section 12 of the Consumer Protection Act, 1986 praying therein that OPs be directed  to :-

i)                   To pay the total amount of FDRS i.e. Rs.2,27,894/- as on 11.7.2008 along with up-to-date interest @10% per annum till realization.

ii)                 To pay Rs.6 Lacs as compensation for mental agony and harassment due to deficiency in service and unfair trade practice on the part of OPs.

iii)              To pay Rs.30,000/- as costs of litigation.

2.                In brief, the case of the complainants is that complainant No.1 after availing VRS from Food Corporation of India in the year 2004, on being allured by OPs No.2 and 4, paid his retiremental money to OPs No.2 and 4 for onward depositing with State Bank of Patiala in Fixed Deposits but instead of depositing the same with State Bank of Patiala, OPs No.2 and 4 deposited the amount of the complainants with  OP No.1 – State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. (hereinafter to be referred as the Society) C/o State Bank of Patiala in terms of Fixed Deposits as under: - 

Thus, the complainant invested a total sum of Rs.2,07,210/- on 28.3.2008 (value dated 11.7.2007) with the OPs in terms of FDRs, as shown in the above table, with common date of maturity as 11.7.2008. It is alleged that on the maturity date of the FDRS in the year 2008, when the complainants approached the OPs for releasing the amount of the said FDRS, it was to their utter surprise that OPs refused to pay the matured amount of the FDRs as OP No.1 was running short of funds. As per the complainants, the said amount of Rs.2,07,210/- was given to OPs No.2 and 4 for depositing with State Bank of Patiala and instead the same was deposited with OP No.1. Thus, it is alleged by the complainants that non refund of their maturity amount on the date of maturity i.e. 11.7.2008 amounts to deficiency in service and unfair trade practice on the part of OPs. In these circumstances, the present complaint has been filed seeking the reliefs mentioned above.

3.                Initially Sh. Gunjan Mehta, Advocate appeared on behalf of OPs No.1 and 2 whereas Sh. A. N. Pawa (OP No.4) appeared in person. But they did not appear later on nor any authorised agent appeared on their behalf. So, OPs No.1, 2 and 4 were proceeded against exparte vide order 30.8.2010. None appeared on behalf of OP No.3, so, it was also proceeded against exparte vide order dated 30.9.2010.

4.                We have heard the learned counsel for the complainant and perused the record very carefully.

5.                The averments made in the complaint as reproduced above of the order stands corroborated from the affidavit of Sh. Sant Lal (Complainant No.1) as well as from documents marked Annexures 1 to 5 along with the complaint. Annexures 1 to 5 are the photocopies of the various Fixed Deposit Receipts issued in the names of the complainants and the maturity value as well as date on all the FDRs is mentioned as 11.7.2008. It is pertinent to mention here that all the FDRs have been issued by the OP No.1 – Society on  28.3.2008 (value dated 11.7.2007) and have been duly signed by the President/Secretary and the Treasurer of the said Society. Thus, it is proved from these documents that these FDRs have been issued by OP No.1-Society in the normal course of business. Otherwise also, the averments made in the complaint have gone un-rebutted and un-controverted as neither anybody appeared on behalf of OPs despite due service to deny the same nor there is any different version of OPs on record to rebut the averments made in the complaint. Thus, the OPs were required to pay the maturity value of all the FDRs on the maturity date as a normal Banking routine and by not doing so, they have left the complainant to suffer mentally, physically and financially too. Such a trend of pocketing the hard earned money of general public by the financial institutions/Banks/Societies is to be deprecated. In our considered view, non refund of the amount on the date of maturity i.e. 11.7.2008 amounts to deficiency in service and unfair trade practice on the part of OPs.

6.                In view of the above findings, this complaint is allowed and the OPs are jointly and severally directed to pay to the respective complainants in whose names the FDRs were originally issued by the OPs, the following amounts: -

(i)       Rs.2,27,930/- (Sh. Sant Lal – Rs.73474/-, Ms. Monica Garg - Rs.1,07,448/-,  Sh. Deepak Garg -Rs.47,008/-) being the total maturity amount  of the five FDRs of the complainants, as shown in tabular chart in Para No.2 of the order.

(ii)      Rs.50,000/- as compensation for mental agony and harassment.

(iii)     Rs.7,000/- as costs of litigation.

7.                This order be complied with by OPs within one month from the date of receipt of its certified copy, failing the original deposited amount of FDRs i.e. Rs.2,07,210/- shall carry interest @18% per annum from the value date of issue i.e.11.7.2007 till the date of actual payment whereas the amount of compensation of Rs.50,000/- shall also carry interest @18% p.a. from the date of filing the complaint i.e.24.04.2010 till its realization besides costs of litigation of Rs.7,000/-.

8.                Certified copy of this order be communicated to the parties, free of charge. After compliance file be consigned to record room.

Announced

11^th April 2011.

Sd/-

 (LAKSHMAN SHARMA)

PRESIDENT

Sd/-

(ASHOK RAJ BHANDARI)

MEMBER

Sd/-

(MADHU MUTNEJA)

MEMBER

Ad/-

C.C.No.245 of   2010

PRESENT: None.

                                                          ---

                   Arguments heard on 08.04.2011. The case was reserved for orders. As per separate detailed order of even date, this complaint is allowed. After compliance file be consigned.

Announced.

11.04.2011          Member              President             Member