C RAMAKRISHNAN Vs. UNIT TRUST OF INDIA

JUDGEMENT

(1.) We are satisfied that there is no merit in this complaint. The complainant, who is the holder of certain number of unit certificates, sent application to the opposite party for repurchase of unit certificates and accumulated dividends and sent a letter to the opposite party instructing the opposite party to deposit the amount in his account No. NRE-75, State Bank of Travancore, Anna Nagar (West ). According to the complainant, believing that the opposite party would have credited the repurchase amount to his account, the complainant instructed his wife to withdraw the amount and it was learnt that his wife has not received the amount and, therefore, the complainant's wife had to borrow from others. The act of the opposite party in not crediting the amount in the account of the complainant held in the State Bank of Travancore, Anna Nagar and in sending the same to the complainant in Muscat address would amount to deficiency in service on their part.

(2.) Ex. A1 is the letter showing that the complainant sent the letter on 27.9.1998. According to the opposite party, the said letter was not received immediately but was received only on 7.10.1998. The opposite party purchased units at Rs.14.25 per unit being the prevailing rate in the month of October, 1998 and sent a cheque in favour of the complainant to the State Bank of Travancore by Speed Post on 12.10.1998. As the cheque was returned by the Postal Authorities undelivered, the opposite party redespatched to the complainant to his Muscat address. The certificates were received by the opposite party on 7.10.1998. The repurchase was effected on 10.10.1998 and the opposite party sent the cheque by speed post on 12.10.1998 to the State Bank of Travancore. According to the opposite party, the same was returned undelivered.

(3.) Thus, the documents as well as the correspondences that have taken place between the parties would show that there cannot be any deficiency in service as alleged. The complainant vide his letter dated 27.9.1998 requested the opposite party to credit the proceeds to his account to the State Bank of Travancore, Anna Nagar (West ). The opposite party made a repurchase on 10.10.1998 as evident from Ex. A2. Ex. A3 is the registered post. Thereafter, the cheque was sent to the complainant to his address in Muscat. In the circumstances, we do not find any materials to accept the case of the complainant that there has been any deficiency in service. Therefore, it was rightly decided by the lower Forum that the complaint deserves to be dismissed and hence we find no reason to interfere with the said finding.