A.N. PAHWA Vs. SANT LAL

JUDGEMENT

(1.) This revision petition has been filed under sec. 21(b) of the Act 1986 in challenge to the Order dtd. 20/5/2011 of the State Commission in appeal no. 110 of 2011 arising out of the Order dtd. 11/4/2011 of the District Commission in complaint no. 245 of 2010.

(2.) In brief, the case of the complainants is that complainant No.1 after availing VRS from Food Corporation of India in the year 2004, on being allured by OPs No.2 and 4, paid his retiremental money to OPs No.2 and 4 for onward depositing with State Bank of Patiala in Fixed Deposits but instead of depositing the same with State Bank of Patiala, OPs No.2 and 4 deposited the amount of the complainants with OP No.1 - State Bank of Patiala Employees Cooperative U.S.E. Thrift and Credit Society Ltd. (hereinafter to be referred as the Society) C/o State Bank of Patiala in terms of Fixed Deposits as under: -

(3.) Thus, the complainant invested a total sum of Rs. 2,07,210/- on 28/3/2008 (value dtd. 11/7/2007) with the OPs in terms of FDRs, as shown in the above table, with common date of maturity as 11/7/2008. It is alleged that on the maturity date of the FDRS in the year 2008, when the complainants approached the OPs for releasing the amount of the said FDRS, it was to their utter surprise that OPs refused to pay the matured amount of the FDRs. as OP No.1 was running short of funds. As per the complainants, the said amount of Rs. 2,07,210/- was given to OPs No.2 and 4 for depositing with State Bank of Patiala and instead the same was deposited with OP No.1. Thus, it is alleged by the complainants that non refund of their maturity amount on the date of maturity i.e. 11/7/2008 amounts to deficiency in service and unfair trade practice on the part of OPs. In these circumstances, the present complaint has been filed seeking the reliefs mentioned above.