Chandigarh

DF-II

CC/1104/2019

P.R. Singhania - Complainant(s)

Versus

The Branch Manager ICICI Bank Ltd. - Opp.Party(s)

In Person

12 Apr 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION-II

U.T. CHANDIGARH

 

Consumer Complaint No.	:	1104/2019
Date of Institution	:	11.12.2020
Date of Decision	:	12.04.2023

 

                     

            

1.  P.R.Singhania, H. No.3029, 2nd Floor, Ajanta Enclave, Sector 51-D, Chandigarh- 160047

2.  Rupshikha Singhania, H. No. 3029, 2nd Floor, Ajanta Enclave, Sector 51-D, Chandigarh- 160047

3.  Abhishek Singhania, H.No.3029, 2nd Floor, Ajanta Enclave, Sector 51-D, Chandigarh- 160047

….Complainants

Versus

1.  The Branch Manager, ICICI Bank Ltd., C/o British School,     Sector-44B, Chandigarh

2. The Managing Director (C/o Nodal Officer), ICICI Bank Ltd ICICI Bank Towers South Tower, West Wing, 2nd Floor Bandra Kurla Complex,  Mumbai: 400 051

                 …. Opposite Parties

 

BEFORE:
	SHRI AMRINDER SINGH SIDHU,	PRESIDENT
	SHRI B.M.SHARMA	MEMBER
Present:-
	Complainant in person. Sh.Kartik, Adv. Proxy for Sh.Sandeep Suri, Counsel of OPs.

   

ORDER BY AMRINDER SINGH SIDHU, M.A.(Eng.),LLM,PRESIDENT

1.     The complainants have filed the present complaint under Section 12 of the Consumer Protection Act, 1986 (as amended up-to-date) alleging therein that they opened and renewed Fixed Deposit Account with OP No.1 (total three accounts) as detailed in the table below, which were due on 15.06.2019.

Sr. No.	Fixed deposit Holder’s Name	CIF ID and FD A.C No.	Date of Deposit	Deposit amount	Date of maturity	Maturity Amount.
	P.R.Singhania & Rupshikha Singhania	411177941 659215001475	01.10.2016	91808/-	15.06.19	113001/-
	Rupshikha Singhania & Abhishek Singhania	411177042 650215001476	01.10.2016	79727/-	15.06.19	96836/-
	Abhishek Singhania & Rupshikha Singhania	411178753 650215001474	01.10.2016	79727/-	15.06.19	96835/-
				251261/-		306672/-

        But the payment of the aforesaid FDRs were not made by OP No.1 on maturity date of 15.06.2019 on the plea that the signature documents were not traceable with them and they shall have to find out the same from their Head Office meaning thereby the OPs had misplaced the documents. To keep the documents properly and safely is the duty of Bank and not of the customer. Not making payment on due date is equal to refusal of payment whatever may be the reasons. The payments of two FDRs i.e. at Sr.No.2 and 3 were made to the complainants after four months of the maturity date, i.e. on 17.10.2019, that too, after a lot of the efforts and writing numerous emails to OP No.2.  The payment FDR at Sr. No.1 is still pending and OP No.1 is not making payment of the same on the ground the signature documents could not be traced. The complainants alleged that they have suffered physical and mental harassment and agony in the process of continuous follow up. Even then the OPs have not redressed the grievances of the complainant despite exchanging e-mails/letters etc.  It has further been alleged that they have suffered financial loss on account of interest due to delayed payment of two FDRs and non-payment of 3^rd FDR and as such they are entitled to interest @ 12 p.a. compounded quarterly as applicable on personal loans. Alleging that the aforesaid acts of omission and commission on the part of the OPs amount to deficiency in service and unfair trade practice, the complainants have filed the instant complaint seeking following directions to the OPs:-

1. To direct OP to pay Rs.1,18,537.00 to the complainant No.1 (FD amount of Rs.1,13,001/- + interest of Rs.5530.00 calculated @ 12% pa from 15.06.2019 to 11.11.2019) with further interest @ 12% pa from 12.11.2019 at the date of payment;
2. To direct OP to pay Rs.2257/-to the complainant No.2 on account of differential interest calculated 12% pa from 15.06.2019 to 17.10.2019.
3. To direct OP to pay Rs.2257/-to the complainant No.3 on account of differential interest calculated 12% pa from 15.06.2019 to 17.10.2019.
4. To direct OP to pay compensation of Rs.50.000 (Rs.fifty thousand to complainant for adopting unfair trade practice, gross deficiency in service and causing mental stress. agony and physical harassment along with interest @12% pa. from the date of filing complaint till the date of payment
5. To direct OP to pay Rs.25,000/- towards litigation expenses to the complainant.
6. To pass any other order as deemed suitable by this Hon'ble Forum

2.     After service of notice upon the OPs, they appeared through their counsel and filed the writer version to the complaint stating therein that the FDs in question were created with the Bank of Rajasthan and not with ICICI Bank, which was merged with ICICI Bank. The complainant No.1, father of the complainant No.3-Mr.Abhishek Singhania approached ICICI Bank, Sector 44, Chandigarh Branch in June 2019 for liquidation of the Fixed Deposits held in the name of Abhishek Singhania with erstwhile Bank of Rajasthan. It is not the case of the complainant at any stage that the complainants No.2 and 3 had ever approached for encashment of the FDs. As disclosed by the complainant, Mr.Abhishek was not in India and he is not having any account with ICICI Bank, Bank officials informed the complainant No.1 the process for closure of the FDR and the proceedings was to be issued to complainant No.3 in the form of a DD and was to be delivered to his son only. Further, the FDRs were very old, which originally belong to Bank of Rajasthan accounts. However, the signatures were not available in the system (had not been uploaded by Bank of Rajasthan) and when the said FDRs were presented for encashment, it was necessary to verify the same and since the same were missing in the computer system in the said accounts, it was necessary to call for the physical signature verification. On merger, all the documents were consolidated in the central record rooms and the same were required to be called.  Besides this, the complainant had not communicated the list of all FDs for liquidation at a single time, therefore, the additional time was taken for the verification and release of 3^rd FD. Initially only FDR at Sr.No.1 and 2 were provided and the 3rd was provided later on. The post retrieval of all the required documents, accounts were closed and proceeds were released in favour of the customers vide different DDs as given in para 6 of the preliminary objections. The FDs at Sr. No.1 and 2 were not in the name of complainant No.1, hence amount could not have been released to him.  The third FDR, was admittedly provided to the Bank much later and hence the same was also released subsequently. The amount of the interest for the intervening period has also been paid thereof. The e-mail as has been mentioned by the complainant at para 7.1 has been replied to in Para 7.2. As is evident in Para 7.3, the complainant was sought to be personally contacted, however since the complainant was not approachable hence the said e-mail was again sent to him. It was denied that the complainants suffered any physical and mental harassment of agony as has been alleged. The remaining allegations have been denied, being false. Pleading that there is no deficiency in service on their part, the OPs prayed for dismissal of the complaint.
3.     The complainants filed replication to the written reply of the Opposite Parties controverting their stand and reiterated the contents of the complaint.  It has been stated that the complainant had tendered all three FDRs with OP No.1 duly discharge on the back side on maturity date of 15.06.2019.  He waited for more than two hours on 17.10.2019 on which date, the payment of two FDs was released. The got collected 3^rd FDR from the complainant on 05.11.2019 and even OP No.1 took another 14 days to release the payment, which was made on 19.11.2019 after filing of the complaint.
4.     The parties filed their respective affidavits and documents in support of their case.
5.     We have heard the complainant in person, Counsel for the OPs and have gone through the documents on record.
6.     The complainants have filed the present complaint making an allegation against the OPs that they have not liquidated three FDRs on the date of its maturity despite repeated requests made by the complainants to that effect. Thus releasing the amount of FDRs after more than 4 months, amounts to deficiency in service on the part of the OPs because the delay of more than four months caused physical and mental harassment to the complainants for which they are entitled to be compensated.
7.     The OPs have admitted that there was some delay in releasing the amount, but at the same time, they took the stand that the FDRs belong to the period before merging of Bank of Rajasthan in the ICICI Bank and signatures of the complainants are not uploaded in the system of the Bank of Rajasthan in which originally the complainants deposited the amount as FDRs. So in order to verify the signatures of the complainants with the signatures of the FDRs, sometime period was consumed and thus, some delay has occurred in releasing the amount of the FDRs to the complainants. 
8.     Taking into account the facts and circumstances of the present complaint, it can safely be concluded that there is some delay in releasing the amount of the FDRs to the complainants for which they are entitled to interest for the delayed period as well as compensation on account of physical and mental harassment for the same.
9.     In view of the above discussion, the present complaint deserves to be partly allowed and the same is accordingly partly allowed. The OPs are directed to pay Rs.40,000/- (Forty Thousand Only)  as lump sum compensation to the complainants on account of interest for delayed period and for the physical and mental harassment as well as litigation expenses.
10.     This order be complied with by the OPs jointly and severally, within 60 days from the date of receipt of its certified copy, failing which the complainants shall be at liberty to get the order enforced through the indulgence of this Commission.
11.     The pending application(s) if any, stands disposed of accordingly.
12.     Certified copy of this order be sent to the parties, as per rules. After compliance file be consigned to record room.

Announced in open Commission 12/04/2023
	Sd/- (AMRINDER SINGH SIDHU) PRESIDENT
	Sd/- (B.M.SHARMA) MEMBER