V. SAROJINI DEVI Vs. PUNJAB AND SIND BANK

JUDGEMENT

(1.) The complainants are the appellants. The appeal is challenge to the order of the District Forum whereof the complaint was dismissed as barred by limitation.

(2.) The facts leading to filing of this appeal are that Doctor Anumolu Venkateshwer Rao was the deposit holder of the opposite party bank. He had no children. He and his wife Sarojini died on 31st May,1993 in an accident leaving behind them the mother of Venkateshwer Rao namely Sundaramma who expired on 25th April, 1990. The complainants no.1 and 4 are the daughters of late Sundaramma. She executed Will dated 25th January,1990 bequeathing her properties in favour of the complainants no.1 to 3. The complainants no.1 to 3 filed O.P.No. 885 of 1990 and a suit in O.S.No. 8 of 1992 on the file of the II Additional Chief judge, City Civil Court, Hyderabad which were decided by a common judgement dated 28th July,2000 whereby the suit was decreed and the O.P was partly allowed leading to filing of C.M.A before the High Court of Andhra Pradesh. The C.M.A. was ended in compromise where under the complainants no.1 to 3 were entitled to 50% of the Bank deposits whereas the complainant no.4 was entitled to 10 % of the Bank deposits. The opposite party was a party to the proceedings.

(3.) The complainants requested the opposite party to pay the amount with interest to them. The opposite party bank sent a letter to Doctor A.Lajpatrai who is the respondent no.2 in the C.M.A. No. 2228 of 2001 that the total amount to the credit of Venkateshwer Rao is Rs. 16,70,026/-. The complainants got issued legal notice dated 5th July,2003 to the opposite party for payment of the amount with interest. The opposite party issued reply on 25th July,2003 that a sum of Rs.10,07,210.50 was payable to all the legal heirs of the late Venkateshwer Rao. The complainants got issued another notice bringing to the knowledge of the opposite party that the Reserve Bank of India had issued circular DBOD No.DIR BC 08/13.03.00/2001-02 dated 11-02-2001 giving instructions to all the Banks to pay interest at the applicable rate on deposit, after the period of maturity. As per the award passed by the Banking Ombudsman against it, the Indian Overseas Bank paid interest on deposits standing to the credit of late Venkateshwer Rao.