ALLAHABAD BANK Vs. SHANTI SINGH

JUDGEMENT

(1.) HEARD learned Counsel for both the parties and perused the record.

(2.) BY virtue of the impugned judgment of 5.9.2005 the District Consumer Forum, Varanasi decreed the complaint of the respondent Smt. Shanti Singh thereby directing the Allahabad Bank to pay the amount in deposit with the bank along with the then prevalent rate of interest. Feeling aggrieved of the said judgment, the Allahabad Bank has preferred the instant appeal reiterating its plea of there being no deficiency in service on its part; rather, as has been pleaded, the respondent/complainant was herself to blame for the delay on her part in not responding to her right to claim her money back.

(3.) SHORTLY stated the facts giving rise to this appeal are as follows: The respondent had taken a loan of Rs. 25,000 by pledging her FDR of Rs. 1,08,009.50. The said FDR was for a period of five years with its expiry date as August 27, 1997. The bank had, on its own, extended the maturity date upto 27.2.1998 i.e., for a period of six months and subsequent to the said date adjusted its outstanding dues amounting to Rs. 34,958. The balance amount was credited to the bank's sundry account. Here the grievance of the respondent/complainant was two -fold -the first being that the balance amount of the maturity value i.e. Rs. 1,66,754 should have been remitted to her as stipulated by the bank and secondly its decision to remit and credit the balance amount of Rs. 1,31,796 to the sundry account was an arbitrary action of the bank.