PUNJAB AND SIND BANK Vs. GRAHAK PARISHAD

JUDGEMENT

(1.) THIS appeal arises from order dated 25th March, 1997 rendered by the learned Surat District Consumer Disputes Redressal Forum in Consumer Disputes Redressal Petition No. 421/95. Impugned order reads as under : 'The opponents are hereby ordered to issue certificate regarding removal of pledge from the above mentioned NSCs which are more particularly mentioned in paragraph No. 1 and are also described hereunder as follows : S. No Description of 6 years National Savings Certificates. Amount Maturity value 1. 6NS/F17/139485 Rs. 5,000/ - 9,505/ -

(2.) 6NS/06G/121220 Rs. 10,000/ - 19,010/ -

(3.) 6NS/03DD/689570 Rs. 5,000/ - 10,075/ - and should also delete the endorsement on the said certificate with their initials so that the complainants can encash the same. The opponents to pay Rs. 1,000/ - to the applicants by way of damages for mental agony and hardships and also pay Rs. 3,993/ - being the loss of interest suffered by the complainants and shall also pay additional compensation of Rs. 1,000/ - by way of costs of the proceedings.' 2. It appears that the matter went ex parte against the opponent Bank (appellant herein). It also appears that the case of the complainant before the learned Forum was that since the opponent Bank did not delete endorsement of pledge appearing on the National Saving Certificates in question the Postal Department did not permit encashment of the National Saving Certificates by the holder of the said certificates (complainants) and on account of such deficiency in service on the part of the opponent Bank the complainant was compelled to make grievances before the learned Forum. Since there was no reply in spite of sufficient opportunity having been accorded to the opponent Bank the learned Forum proceeded to consider the merits in the context of the material placed on record. Learned Forum found that the endorsement of pledge on the NSCs in question was not removed and no certificate for removal of the pledge in respect of the NSCs was also issued by the opponent Bank. Hence the learned Forum passed order as aforesaid. 3. In the present appeal we have heard the learned Advocate appearing for the appellant. No one has remained present for the respondents (complainants). It has been submitted that on 8th December, 1994 no due certificate for the C.C. (Cash Credit) Facility in respect of the pledged NSCs was in fact issued and the complainant remained silent about such certificate. In our considered opinion mere issuance of no due certificate in favour of the principal borrower might not have satisfied the Postal Department for encashment of the NSCs on which endorsement of pledge still continued. The NSCs were pledged by the complainants who admittedly stood as sureties of the principal borrower. Under such circumstances when the complainants approached the opponent Bank for removal of the endorsement of pledge there was no reason for the Bank not to do so and that precisely appears to be deficiency in service. 4. It has then been submitted that the learned Forum has erred in awarding Rs. 1,000/ - on the head of mental agony and hardship. We are of the opinion that in a commercial transaction, compensation on such head could hardly have been awarded and the same requires to be deleted. Rest of the award will stand with following modification.