Karnataka

Bangalore 2nd Additional

CC/2791/2009

Sri Parameshwara A Shettigar - Complainant(s)

Versus

The Branch Manager, The National Co-op Bank Ltd., - Opp.Party(s)

IP

06 Jan 2010

ORDER


IInd ADDL. DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, BANGALORE URBAN
No.1/7, Swathi Complex, 4th Floor, Seshadripuram, Bangalore-560 020
consumer case(CC) No. CC/2791/2009

Sri Parameshwara A Shettigar
...........Appellant(s)

Vs.

The Branch Manager, The National Co-op Bank Ltd.,
The Director, Green Country Agro Foods Ltd.,
...........Respondent(s)


BEFORE:


Complainant(s)/Appellant(s):


OppositeParty/Respondent(s):


OppositeParty/Respondent(s):


OppositeParty/Respondent(s):




Consumer Court Lawyer

Best Law Firm for all your Consumer Court related cases.

Bhanu Pratap

Featured Recomended
Highly recommended!
5.0 (615)

Bhanu Pratap

Featured Recomended
Highly recommended!

Experties

Consumer Court | Cheque Bounce | Civil Cases | Criminal Cases | Matrimonial Disputes

Phone Number

7982270319

Dedicated team of best lawyers for all your legal queries. Our lawyers can help you for you Consumer Court related cases at very affordable fee.

ORDER

The complainant present. Opposite party also present. The opposite party submitted in the version that the Bank is ready to pay the matured amount to the complainant subject to deduction of tax as per the provisions of Income Tax Act and interest will be paid after maturity period as per the norms and regulations and instructions of RBI. The submission of the opposite party is quite correct, fair and just. Since the Green Country Agro Food Ltd., has given letter to the opposite party Bank requesting for payment of maturity value to the complainant. Therefore, there is no legal impediment for the opposite party to pay the maturity value of the FD to the complainant as per the rules and regulations. In the result, I proceed to pass the following: - ORDER 1. The complaint is allowed. The opposite party Bank is directed to pay the maturity value of the FD to the complainant after deducting TDS as per the rules. 2. The opposite party Bank is also directed to pay interest on the maturity value as per rules from the date of maturity till payment. 3. The complainant has to surrender the original “YOGAKSHEMA NIDHI” Certificate to the Bank. 4. Send the copy of this Order to both the parties free of costs immediately. 5. Pronounced in the Open Forum on this 6TH DAY OF JANUARY 2010. Order accordingly, PRESIDENT We concur the above findings. MEMBER MEMBER rhr.