IN THE DISTRICT CONSUMER DISSPUTES REDRESSAL FORUM, SAMBALPUR.
CONSUMER COMPLAINT NO.153 OF 2008
Ramani Ranjan Tripathy,
Aged about 70 years,
S/O. Late Bansidhar Tripathy,
R/O. :Modipara, P.S.: Town, Dist: Sambalpur. …….. Complainant.
Vrs.
1. The Branch Manager,
The Peerless General Finance and
Investment Co. Ltd., Rourkela Branch,
New Market, Rourkela-769 001.
2. The Managing Director,
The Peerless General Finance & Investment Co. Ltd.,
Central Marketing Co., 134, Dores Lane,
3rd Floor, Kolkata-700 060. …….. Opp.Parties.
For Complainant : Shri D.K.Panda, Advocate.
For Opp.Parties : None.
DATE OF ORDER : 18.04.2009
P R E S E N T :
SHRI A.K.PUROHIT, PRESIDENT
A N D
SHRI T.JAYAPURIA, MEMBER.
: O R D E R :
SHRI T.JAYAPURIA, MEMBER:- The case has been filed showing deficiency in service on the part of the O.Ps. Brief fact of the case is that the complainant is the holder of three numbers of Fixed Deposit Certificates under the O.Ps bearing No.0300674, 0300675 & 0300676 and the maturity date of the certificates was 7.12.2003. After the date of maturity of the certificates, the complainant did not withdraw any amount but on 31.3.2007 he received a letter from the O.Ps stating that they have reinvested the maturity amount for three years at a lower rate of interest without any instruction from the complainant. The complainant wrote letter dt.15.10.2007 to the O.Ps claiming interest for Fixed Deposits so deposited and also the complainant also claimed the maturity amount of the certificates with interest and for the rest period that is from the date of maturity till date simple bank rate of interest prevalent as per guide lines of the Reserve Bank of India. The O.Ps have not released the amount till to-day.
Hence this case with prayer to direct the O.Ps to pay the Fixed Deposit amount with aggregated rate of interest to the tune of Rs.45,115/- and Rs.10,000/- towards mental agony and harassment.
2. The O.Ps were noticed sufficiently but they did not appear to contest the case and hence declared ex parte.
3. Heard the complainant and perused the documents and materials available on record. On perusal of the materials available on record it is seen that two correspondences have been made by the complainant to the O.P.No.1 that is the Branch Manager, Peerless General Finance and Investment Co.Ltd., Rourkela. From the correspondence letters it is seen that three certificates bearing No.0300674, 0300675 & 0300676 have been deposited with the O.P.No.1 on 6.4.2002 and request was made to him to encash the certificates on premature closure and payment of the same. The maturity amount contained in the corresponding letter is Rs.12,489/- for each certificate total amounting to Rs.37,467/-. But in the prayer the complainant has prayed for payment of Rs.45,115/-. Though these two amounts differ, but as is seen from the complaint petition, the complainant has requested to pay the maturity value of the certificates with interest and for the subsequent period after the maturity till reinvestment simple Bank interest as prevalent as per guide lines of R.B.I. and as such the amount comes to Rs.45,115/-. It appears that despite the correspondences made by the complainant with the O.Ps, the payment has not yet been made and no version has been filed by the O.Ps in this case which indicates that the O.Ps have admitted the facts contained in the complaint petition. Non-payment of maturity amount after the date of maturity and making reinvestment of the same amount without the consent of the complainant amounts to deficiency in service on the part of the O.Ps. Hence order:
The complaint petition is allowed. The O.Ps are jointly and
severally directed to pay to the complainant the maturity
amount with interest of Rs.45,115/-(Rupees Forty five thousand-
- one hundred fifteen) within a period of one month from the
date of receipt of this order along with a sum of Rs.2,000/-
(Rupees Two thousand) towards harassment, mental agony
and cost of the proceeding.
The case is disposed of accordingly.
T.JAYAPURIA
MEMBER.
SHRI A.K.PUROHIT, PRESIDENT. I agree.
Dictated and corrected by me.
MEMBER.