PUNJAB NATIONAL BANK Vs. ANUMATI

JUDGEMENT

(1.) This is an appeal against the judgment and order dated 2.8,2000 passed by District Consumer Forum, Muzaffarnagar in Complaint Case No.179/1997.

(2.) The facts of the case stated in brief are that the complainant along with her husband took a fixed deposit of Rs.20,000/- on 31.5.1988 for 84 months. In this fixed deposit, half of the amount was belonging to the complainant and the other half to the husband of the complainant. The fixed deposit matured on 31.5.1995. When the complainant went to take the amount, she was told that her husband has taken a loan against this fixed deposit receipt and mortgaged the same in favour of the Bank. It is alleged that her husband never told this fact to her and the opposite party also did not inform her. She only came to know of this fact when she went to take the money. The complainant is entitled to get half of the amount of Rs.19,965/-. A notice was also issued to the opposite party on 26.5.1995 but nothing was done. It is further alleged that she is also entitled for interest at the rate of 17% per annum from 1.6.1995 on Rs.19,965/-.

(3.) The opposite party in the written version has alleged that on 30.5.1988 a sum of Rs.20,000/- was deposited in fixed deposit. The fixed deposit receipt was pledged by the complainant's husband after taking a loan from M/s. Verma Agro Industries. As soon as the amount is paid back, the fixed deposit receipt will be released. The complainant cannot demand the money. The Bank has a right to pay the amount to any one of the depositors as the payment was to be made on "either or survivor". The complainant is not the owner of half of the amount.