Complainant Nirmal Singh vide the present complaint U/S 12 of the Consumer Protection Act, 1986 (hereinafter for short the Act) for issuance of the necessary directions to the opposite parties to make the payment of balance amount plus interest of 6 FDRs of Rs.2,60,348/- from the year 2009 to 2017 alongwith 5% Senior Citizen interest. Opposite parties be further directed to pay compensation to the tune of Rs.20,000/- for physical harassment and mental agony  alongwith litigation expenses, in the interest of justice.

2.       The case of the complainant in brief is that he is a retired School Head Master. He was having Saving Account No.072234001000719 in the bank of opposite parties no.3 & 4 from last 30 years. He got 6 FDRs which were to mature in the year 2009 from their Bank. He did not refund the same due to some domestic and health problems. He was under impression as assured by the opposite parties bank that his FDRs will automatically get renewed like other banks as per guidelines of RBI. He has next pleaded that in the month of February, 2017, he went to the opposite parties no.3 and 4 for refund of FDRs for his health care and treatment but they asked to come after March, 2017. So, he visited there in Ist week of April 2017, then opposite party no.3 told him that his FDRs have not be renewed the after year 2009 and he raised objections over this illegality but opposite party no.3 assured that matter will be sorted out by Main Branch, Gurdaspur headed by the opposite parties no.1 & 2 and he should approach them. He has further pleaded that he went to the opposite parties no.1 & 2 to get his right, but the opposite party no.1 told him that his FDRs will be renewed for the period ahead equal to the period elapsed as overdue whereas the opposite party no.2 asked that FDRs will be renewed for the period of year 2013 to 2017 and period from 2009 to 2013 he will be given saving account rate but the opposite party no.3 prepared account statement with full FDR rate by deducting Income Tax which was objected by him that being agriculturist, Income Tax cannot be deducted from him. Meanwhile the opposite party no.3 got transferred and new Manager the opposite party no.4 took charge, but as per the instructions  of opposite parties no.1 & 2 prepared FDR’s A/c by only giving saving account rate from year 2009 to 2017 which is totally injustice. The opposite parties have kept the FDRs amount with them and used the same. Even then it was not put into saving account nor he was ever informed about the same. He is entitled interest @ 5% given to Senior Citizen as his age about 79 years at present but he was cheated and harassed by the opposite parties. A legal notice dated 24.10.2017 through his counsel calling upon the opposite parties to make the payment of interest of 6 FDRs from 2009 to 2017 alongwith 5% senior citizen interest, within 15 days from the receipt of notice but the opposite parties did not reply to the same. The detail of payment is as under:-

Total amount                         Rs.12,23,802/-

Received amount                   Rs. 9,63,454/-

Balance amount                     Rs.2,60,348/-         plus interest w.e.f. 2.06.2017 and

with Senior citizen interest 5% till realization. Due to the illegal act and conduct of the opposite party, he has suffered great mental agony and he has suffered mental as well as physical harassment at the hands of opposite parties. Thus, there is deficiency in service on the part of the opposite parties. Hence, this complaint.

3.       Notice of the complaint was issued to the opposite party no.1 to 3 who appeared through their counsel and filed its written reply by taking the preliminary objections that  the complainant has not come to the Commission with clean hands; the complainant has concealed the material facts in the present complaint from this Hon’ble Commission and the complainant has filed the present complaint in order to harass the officials of the opposite parties on account of unwanted and uncalled litigation. On merits, it was admitted that the complainant is having saving account No.072234001000719 in the bank of opposite parties no. 3 and 4. It was also admitted that complainant was having 6 FDRs which were to mature in the year 2009.  It was denied that the opposite parties had ever assured the complainant that his FDRs will automatically get renewed. As per the rules and regulations of the Bank once the FDR is matured then if the FDR holder wants to renew the same then he has to approach the Bank and to ask for renewal and if he don’t ask for the renewal of the same then in that eventuality he has to draw the amount matured or if he does not draw the amount from the Bank then the Bank will convert the same into a saving account and from then onwards the account will be considered as saving account and the interest on that amount will also be given as given on the saving account.  The FDRs of the complainant matured in the year 2009 and from there onwards he never approached the Bank and never asked for renewal of the FDRs and even had not withdrawn the amount matured from the Bank and after waiting for a reasonable time the Bank had converted the same into saving account and then after 2009 the interest on the matured amount was given as given on the saving account.  The details of payment made by the complainant were being incorrect. The actual detail was given as under:-

Amount of FDR               Maturity amount in the year 2009

4,50,735/-                         7,03,375/-

After 2009 the account was converted into saving account as per the rules and regulations of the bank and from 2009 to 2.6.2017 the interest on the matured amount was given according to the savings account interest and on that amount Saving Bank interest amounted to Rs.2.60,079/-. The complainant was paid the amount of Rs.9,63,454/- on 2.6.2017. All other averments made in the complaint have been denied and lastly the complaint has been prayed to be dismissed with costs.

4.      Notice of the complaint was issued to the opposite party no.4 had not received back. Case called several times but none had come present on its behalf, therefore, opposite party no.4 was proceeded against exparte vide order dated 6.4.2018.

5.      Complainant has tendered into evidence his own affidavit Ex.C1, along with the other documents exhibited as Ex. C2 to Ex.C13 and closed the evidence.

6.      On 10.12.2018, case called several times but none had come present on behalf of opposite parties no.1 to 3 for producing the evidence. Counsel for the opposite parties no.1 to 3 had availed so many opportunities for this purpose but he failed to produce the same. As such evidence of opposite parties no.1 to 3 was closed by order.

7.    We have carefully gone through the pleadings of counsels for the parties; arguments advanced by their respective counsels and have also appreciated the evidence produced on record with the valuable assistance of the learned counsels for the purposes of adjudication of the present complaint.

8.      Ex.C-6 is the legal notice sent by the complainant to the opposite parties and Ex.C-2 to Ex.C-5 are the postal receipts of the legal notice sent to the opposite parties through registered post. Ex.C-7 to Ex.C-12 are the photocopies of the FDR’s. Ex.C-13 is the calculations made by the complainant on the basis of FDR rate of interest  till March 2017.The complainant has alleged that his FDR’s matured in the year 2009 but he failed to get them renewed and now he is claiming the FDR rate of interest on the said amount of the FDR’s after year 2009 on the ground that the said FDR’s would have automatically got renewed as per the assurance given by the opposite parties whereas opposite parties no.1 to 3 have specifically mentioned para 2 of their reply that they never assured the complainant that the FDR’s will automatically get renewed. Rather, as per the rules and regulations of the Bank once the FDR is matured then if the FDR holder wants to renew the same, then he has to approach the Bank and ask for the renewal and if he does not ask for the renewal of the same then in that eventuality, he has to draw the amount matured and if does not withdraw the amount from the Bank, then the Bank will convert the same into saving account and  from then onwards, the account will be considered as saving account and the interest on that amount will  be given according to as per the interest on the Saving Account. It is further submitted that the FDR’s of the complainant matured in the year 2009 and from then onwards he neither approached the Bank and nor asked for renewal of the FDR’s. After waiting for a reasonable time, the Bank converted the same into saving account and from then onwards i.e. 2009, the interest on the matured amount was given as per saving account interest. In reply to the para 7 of the complaint the opposite parties have given the details of the interest accrued on the FDR’s till year 2009 and after the year 2009 the account was converted into saving account as per rules and regulations of the Bank and the interest on the matured amount was calculated according to saving account interest and an amount of Rs.2,60,079/- was paid to the  complainant on 2.6.2017.  Total amount of Rs.9,63,454/- (upto year 2009 Rs.7,03,375/- + Rs.2,60,079/- saving account interest on the matured amount) was paid to the complainant on 2.6.2017. Moreover, instructions are specifically written at the back of the long term Deposit receipt (placed on record by the complainant i.e. ex.C-7 to C-12) at condition No.5 it is written, “Notice of due date is recorded upon the receipt to enable the depositor either to receive payment of the amount due or to arrange for renewal of the certificate. No further intimation will be given to the receipt holders”.

9.       In view of this condition also, the complainant neither received the due payment on maturity nor applied for renewal of the Certificate. Hence, he is not entitled to FDR rate of interest on the maturity amount. After the year 2009 he is entitled for the rate of interest as per the rate of interest on Saving Account and the same has been paid to the complainant by the opposite parties. Hence no deficiency in service can be attributed on the part of the opposite parties.

10.    In view of the aforesaid discussion, we reach the conclusion that the complaint of the complainant is without any merit and the same is liable to be dismissed and is dismissed accordingly with no order as to costs.

11.     Copy of the order be communicated to the parties free of charges. After compliance, file be consigned.                                                                                                                                                         

             (Neelam Gupta)

                                                                              President   

Announced:                                                   (Harvimal Dogra)

March 5, 2021                                                           Member

*MK*