ORIENTAL BANK OF COMMERCE Vs. DEV RAJ MAHAJAN

JUDGEMENT

(1.) This revision petition has been filed by the petitioners/OP against the order dated 18.12.2012 passed by the State Consumer Disputes Redressal Commission, UT Chandigarh (in short, 'the State Commission') in Appeal No. 344/2012 Oriental Bank of Commerce Vs. Dev Raj Mahajan & Anr. by which, while dismissing appeal, order of District Forum allowing complaint was upheld.

(2.) Brief facts of the case are that complainants/respondents obtained two FDRs for a sum of Rs.10,000/- each on 14.1.2002 from OP No. 2-Global Trust Bank Ltd. for 10 years with the maturity value of Rs.26,203/-. OP No. 2 merged with OP No. 1-Petitioner and all the assets and liabilities were taken over by OP No. 1. On maturity, complainant approached to OP No. 1 and complainants were paid Rs.20,466/- against each FDR, whereas maturity value of FDRs was Rs.26,203/-. Alleging deficiency on the part of OP, complainants filed complaint before District Forum. OP No. 1 admitted issuance of FDRs and merger of OP No. 2 with OP No. 1, but submitted that maturity value was generated on the basis of interest payable by OP No. 1 as per notification issued by the Ministry of Finance dated 13.8.2004. It was further submitted that OP No. 1 also informed all the customers of Global Trust Bank Ltd. vide letter dated 13.9.2004 about rate of interest. OP has not committed any deficiency in service and prayed for dismissal of complaint. OP No. 2 was proceeded ex-parte. After hearing both the parties, learned District Forum allowed complaint and directed OP No. 1 to refund Rs.11,474/- of two FDRs along with 9.75% p.a interest and awarded Rs.10,000/- as compensation. Appeal filed by the petitioner was dismissed by learned State Commission vide impugned order against which this revision petition has been filed.

(3.) Heard learned Counsel for the petitioner and Respondent No. 1 in person and perused record.