CC Filed on 25.02.2008<br /> Disposed on 26.05.2008<br /> BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, KOLAR.<br /> <br /> Dated: 26th Day of May 2008<br /> <br /> PRESENT:<br /> Sri. G.V.HEGDE, President.<br /> Smt. K.G.SHANTALA, Member.<br /> ---<br /> <br /> Consumer Complaint No.20/2008<br /> <br /> Smt. Savithramma,<br /> W/o Suryanarayana Rao,<br /> Hindu, Major, <br /> R/o Brahmin Street,<br /> Bagepalli Town. Complainant <br /> <br /> (By Advocate Sri. H. Sathyanarayana Rao & Others)<br /> <br /> V/S<br /> 1. The Managing Director,<br /> Kolar District Co-operative <br /> Central Bank Ltd.,<br /> Head Office,<br /> Kolar District,<br /> Kolar.<br /> <br /> 2. The Branch Manager,<br /> Kolar District Co-operative <br /> Central Bank Ltd., <br /> Bagepalli Branch,<br /> Bagepalli. Opposite Parties<br /> <br /> (Ex-parte) <br /> ORDERS<br /> <br /> This is a complaint under section 12 of the Consumer Protection Act, 1986 praying for a direction against the opposite parties to pay a sum of Rs.1,72,926/- to the complainant with interest at 13% per annum from the date of complaint till the date of realization with costs etc.,<br /> <br /> <br /> CC No.20/2008<br /> 2. The opposite party No.1 is a banking institution having its head office at Kolar and branches all over Kolar District. Opposite party No.2 is one of the branches situated at Bagepalli Town. Opposite party No.2 collected deposits from complainant, the particulars of which are as follows: <br /> Nature of Deposit Amount of Deposit in Rs. Date of Deposit Date of Maturity Rate of Interest per annum Maturity Amount in Rs.<br /> Ksheera Nidhi Deposit Sl. No.6365 60000 05.10.2000 05.04.2006 13% 121266<br /> <br /> It is alleged by complainant that even after maturity of deposit the opposite parties failed to repay the amount inspite of repeated demands. <br /> <br /> 3. The opposite parties remained absent, though served with notice by muddam on OP-1 and through RPAD on OP-2. They have not filed any version. <br /> <br /> 4. The complainant filed affidavit in support of allegations made in the complaint. We heard the learned counsel for complainant and perused the records. The non-payment of deposit after its maturity by a banking institution for any reason amounts to deficiency in service. <br /> <br /> The subsequent interest may be awarded at 8% per annum on the maturity amount subsequent to the date of maturity. Separate compensation need not be awarded as interest is payable. <br /> <br /> <br /> <br /> <br /> CC No.20/2008<br /> 5. For the above reasons we pass the following:<br /> O R D E R<br /> <br /> The complaint is allowed with costs of Rs.1,000/-. The opposite parties shall pay Rs.1,21,266/- (One Lakh Twenty One Thousand Two Hundred Sixty Six only) to complainant with interest at 8% per annum on the said amount from 06.04.2006 till the date of payment within 45 days from the date of this order. <br /> <br /> Dictated to the Stenographer, corrected and pronounced in open Forum this the 26th day of May 2008.<br /> <br /> <br /> MEMBER PRESIDENT<br /> <br /> <br />