CHANDRAMANI SARANGI Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) Deficiency in banking service is the grievance.

(2.) Complainants deposited a sum of Rs.50,000/- on 21.10.1978 in two fixed deposits sums of Rs.25,000/- each with the opposite party. One was for five years and the other was for ten years. Grievance of the complainant is that inspite of maturity the amounts are not being paid although demands are being made.

(3.) On receipt of notice, opposite party stated that complainant no.1 was a guarantor for loans to various persons for which he has deposited the two certificates signed by both as evidence of release. On that basis endorsements have been made that those certificates are under lien. Since loanees have not discharged the loans for which suits have been filed against them, amounts could not be paid to complainant and there is no deficiency in service.