DISTRICT CONSUMER DISPUTES REDRESSAL FORUM-II U.T. CHANDIGARH [Complaint Case No:06 of 2011] Date of Institution : 06.01.2011 Date of Decision :26.09.2011 ------------------------------------------- Sh. Gurvinder Singh Batra resident of House No.215, Phase IX, Mohali (Punjab). ---Complainant. V E R S U S The Punjab State Tube-well Corporation Employees Cooperative Urban Salary Earners THRIFT Society Limited, Chandigarh having its registered office at SCO no.28, Sector 26, Chandigarh. ---Opposite Party. BEFORE: SHRI LAKSHMAN SHARMA PRESIDENT SMT. MADHU MUTNEJA MEMBER SH. JASWINDER SINGH SIDHU MEMBER Argued By: Sh. Hari Om Chaudhary, Advocate for the complainant. OP already exparte. PER LAKSHMAN SHARMA, PRESIDENT Sh. Gurvinder Singh Batra has filed this complaint under section 12 of the Consumer Protection Act, 1986 praying therein that OP be directed:- i) To pay Rs.1,47,500/- along with interest @18% per annum; ii) To pay Rs.50,000/- as compensation for harassment and mental agony; iii) To pay Rs.33,000/- as costs of litigation. In brief, the case of the complainant is that he deposited an amount of Rs.1,25,000/- in Fixed Deposit Accounts with the OP (The Punjab State Tube-well Corporation Employees Cooperative Urban Salary Earners THRIFT Society Limited, hereinafter to be referred as the Society). The details of the amounts deposited by the complainant are as follows: - FDR No. | Dated | Amount Deposited | Rate of Interest | Date of Maturity | 1212 | 09.03.2009 | Rs.25,000/- | @12% | 09.03.2010 | 1213 | 27.03.2009 | Rs.25,000/- | @12% | 23.03.2010 | 1215 | 27.03.2009 | Rs.25,000/- | @12% | 27.03.2010 | 1217 | 30.03.2009 | Rs.25,000/- | @12% | 30.03.2010 | 1219 | 30.03.2009 | Rs.25,000/- | @12% | 30.03.2010 | | Total amount Rs.1,25,000/- | | |
Thus, the complainant invested a total sum of Rs.1,25,000/- on various dates with the OPs for a period of one year in Fixed Deposit Accounts, as shown in the above table, with common rate of interest i.e. @12% per annum. It has further averred that the said FDRs have matured in the month of March 2010. Despite it, OP has failed to encash the said FDRs and release the amount in favour of the complainant. According to the complainant, when he approached the OPs for encashment of FDRs, it refused to release the amount. According to the complainant, non refund of his maturity amount on the date of maturity amounts to deficiency in service and unfair trade practice on the part of OP. In these circumstances, the present complaint has been filed seeking the reliefs mentioned above. 3. Initially Sh. Viskas Sheel Verma, Advocate appeared on behalf of OP. But later on, he did not appear nor any authorised agent appeared on behalf of OP. So, OP was ordered to be proceeded against exparte vide order 24.05.2010. 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 have gone un-rebutted and un-controverted as no reply has been filed by OP. Further the above said averments stands corroborated from the affidavit of the complainant as well as the receipts (Annexures C-1 to C-5). 6. Thus, it is proved from these documents that these FDRs have been issued by OP in the normal course of business. The OP was required to pay the maturity value of all the FDRs on the respective maturity dates as a normal Banking routine and by not doing so, it has left the complainant to suffer mentally, physically and financially. It amounts to deficiency in service on the part of OP. So, the complainant is entitled to the maturity value of the above said FDRs along with compensation and litigation expenses. 7. In view of the above findings, this complaint is allowed and the OP is directed to pay to the complainant the following amount: - (i) Rs.1,25,000/- along with interest @12% per annum from the respective dates of deposit vide FDRs (Annexures C-1 to C-5) till their respective dates of maturity (being the maturity value of the FDRs); (ii) Rs.20,000/- as compensation for mental agony and harassment. (iii) Rs.7,000/- as costs of litigation. 8. This order be complied with by OP within one month from the date of receipt of its certified copy, failing the original deposited amount of FDRs i.e. Rs.1,25,000/- shall carry interest @18% per annum from the date of respective maturity of FDRs till the date of actual payment whereas the amount of compensation of Rs.20,000/- shall also carry interest @18% p.a. from the date of filing the complaint i.e.06.01.2011 till its realization besides payment of Rs.7,000/- as costs of litigation. 9. Certified copy of this order be communicated to the parties, free of charge. After compliance file be consigned to record room. Announced 26th September 2011. Sd/- (LAKSHMAN SHARMA) PRESIDENT Sd/- (MADHU MUTNEJA) MEMBER Sd/- (JASWINDER SINGH SIDHU) MEMBER Ad/-
C.C.No.6 of 2011 Argued By: Sh. Hari Om Chaudhary, Advocate for the complainant. OP already exparte. --- As per separate detailed order of even date, this complaint has been allowed. After compliance file be consigned. Announced. 26.09.2011 Member President Member
| | MRS. MADHU MUTNEJA, MEMBER | HONABLE MR. LAKSHMAN SHARMA, PRESIDENT | MR. JASWINDER SINGH SIDHU, MEMBER | | 
