BRANCH MANAGER, OSMANABAD DISTRICT CENTRAL CO-OPERATIVE BANK LTD & ANR Vs. SHAIKH BADAR SULTANA NAZIR MOHMMED & ORS

JUDGEMENT

(1.) LATE Sh. Nazir Mohammad Haji Fakir Mohammad deposited a sum of Rs. 65,000/ - with the petitioner, Osmanabad District Central Co -operative Bank Ltd. on 10.07.1998, for a period of 13 months. The said deposit carried interest at the rate of 15% per annum. On 24.08.1998, he deposited a sum of Rs. 55,000/ - for a period of 3 months with another bank namely, Osmanabad Janta Sahakari Bank Ltd. The said deposit carried interest at the rate of 14.5% per annum. After maturity of the aforesaid deposits, the complainant approached the banks. However, the maturity amount was not paid and the complainant was asked to collect the heirship certificate. Since Nazir Mohammad has gone missing since 28.04.1999, the Civil Court declared him dead on 28.07.2008. After obtaining the order of the Civil Court, the complainant again approached the bank, seeking the payment as per double benefit scheme but no such payment was made to her. The complainants, who are the legal heirs of Nazir Mohammad, then approached the District Forum by way of two separate complaints, one against the petitioner and the other against Osmanabad Janta Sahakari Bank Limited, seeking payment of Rs. 2,63,533/ - alongwith interest, besides compensation for mental agony and cost of litigation etc. The complainant received an amount of Rs. 63,640/ - from the bank on 01.11.2008 in respect of the deposit of Rs. 55,000/ -. Therefore, she claimed Rs. 1,81,996 alongwith interest and compensation etc.

(2.) THE complaint was resisted by the bank on the ground that deposit made by Nazir Mohammad were for thirteen months only and were never under the double benefit scheme. It was also stated that after maturity and taking succession certificate, the aforesaid amount was paid with interest and therefore, there is no deficiency in providing the services.

(3.) THE District Forum, vide its order dated 23.02.2010, dismissed the complaints. Being aggrieved from dismissal of their complaints, the complainants filed two separate appeals being First Appeal No. 290/2010 and 291/2010 before Maharashtra State Consumer Disputes Redressal Commission, Mumbai. Vide order dated 18.03.2014, the State commission after noticing that it was an admitted case that the complainants had deposited Rs. 65,000/ - with one bank and Rs. 55,000/ - with other bank for a period of 13 months and also noticing that the amount of Rs. 65,000/ - kept in Fixed Deposit on 10.07.1998, matured in August, 1999, but was paid to the complainants on 27.06.2009, whereas the Fixed Deposit of Rs. 55,000/ - made on 24.08.1998 was paid on 01.11.2008, directed the Banks to pay interest at the rate of 6% per annum on the maturity amount of the FDR from the date of maturity till date of payment.