BASU ORAM Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) This review petition filed under sec. 21(b) of the Consumer Protection Act, 1986 (in short, the 'Act') assails the order of the State Consumer Dispute Redressal Commission, Odisha (in short, 'State Commission') in First Appeal No. 76 of 2014 dated 28/2/2014 dismissing the appeal against the order of the District Forum, Sundargarh II, Rourkela (in short, 'District Forum') in Consumer Complaint no. 49 of 2012 dtd. 23/12/2013.

(2.) The brief facts of the case are that on 11/12/2007, the petitioner who had a savings bank account no. 3598 with the Central Bank of India, Bisra was issued a receipt for a Money Multiplier Deposit Certificate (MMDC) bearing number 249369 for Rs.70,000.00 in his name. The MMDC was for 48 months and was to carry interest @ 9.25% and mature on 5/1/2012 with a value of Rs.1,00,842.00. When the certificate was presented for encashment at the bank on 5/1/2012, the same was accepted against receipt. However, on 9/1/2012 the petitioner was informed that the certificate had been issued inadvertently by mistake and that as the the amount of Rs.70,000.00 had not been debited from his account, the MMDC could not be encashed. Alleging deficiency in service, the respondent approached the District Forum which ordered in his favour in CC 49 of 2012 dtd. 23/12/2013 as below:

(3.) Aggrieved by this order the respondent bank approached the State Commission in first appeal no. 76 of 2014 which came to be disposed of on 28/2/2017 in his favour by way of the following order: