ARUN SINGLA Vs. SWAMI GEETA GIRIA

JUDGEMENT

(1.) Challenge in this Revision Petition filed by Mr. Arum Singh, Mr. Sham Sunder Bedi and Mr. Akshoni Kumar (Opposite Party No. 2, 3 and 6 in the Complaint respectively) under Sec. 21 (b) of the Consumer Protection Act 1986 (for short "the Act") is to the Order dtd. 20/10/2009 passed by the State Consumer Disputes Redressal Commission, Punjab, Chandigarh (for short "the State Commission") in in First Appeal No. 271 of 2009. By the Impugned Order, the State Commission while affirming the finding of facts returned by the District Consumer Disputes Redressal Forum, Muktsar (for short, "the District Forum") has dismissed the Appeal preferred by the Petitioners herein. The District Forum vide its Order dtd. 23/1/2009 allowed the Complaint filed by the Complainant/Respondent No. 1 herein and directed the Petitioners and Respondents No. 2 to 5 herein to pay jointly and severally the maturity value of the FDRs to the Complainant along with interest accrued thereon, compensation etc.

(2.) The facts material to decide the present case, are that the Complainant/ Respondent No.1 was holding a Savings Bank Account with State Bank of India, Muktsar Branch (for short, "the Bank"). On 1/1/2003, she deposited a sum Rs.1,00,000.00 with the Bank and was issued FDR No. 2440 with the rate of interest @12% p.a. for a period of one year. Complainant/Respondent No.1 raised her doubt about the sanctity of the FDR since by appearance it was not looking a Fixed Deposit Receipt. However, she was given assurance by the Branch Manager of the Bank that the amount was being invested in a Society approved by the Central Office of the Bank and the Society is used to provide higher rate of interest in comparison to the Bank itself. Believing this representation, Complainant/Respondent No.1 in good faith, further invested a sum of Rs.10,00,000.00 in the FDR with the Society on various occasions through the same Branch Manager of the Bank.

(3.) Complainant/Respondent No.1 has entered into an agreement with some persons at Pathankot for purchase of a plot and therefore, demanded back the money from the Bank in order to execute the Sale Agreement in time, however, it was informed to her that the entire amount had been mis-appropriated by the Secretary-Cum-Cashier of the Society and arranging the same would take time. As a result of delay, Complainant/ Respondent No.1 could not execute the Sale Deed in time and her earnest money was forfeited. Despite several requests, repeated remainders and service of a legal notice, Opposite Parties/ Petitioners herein, did not pay the amount to the Complainant. Being aggrieved, Complainant/ Respondent No.1, alleging deficiency in service on part of Opposite Parties filed a Complaint before the District Forum for releasing the amounts of FDRs/TDRs with interest and compensation.