BHUPENDRA SINGH Vs. NEW INDIA ASSURANCE CO LTD

JUDGEMENT

(1.) The petitioner was the opposite party before the District Forum, where the respondent/complainant had filed a complaint alleging deficiency in service on the part of the petitioner.

(2.) Very briefly the facts of the case are that the respondent/complainant, who is a body under the law of the State Government, purchased Kisan Vikas Patra (KVP) floated by Government of India by investing Rs. 1,26,000/- for a period of 5 years, on 25.9.1997, maturing on 25.3.2003. The maturity amount payable to the complainant was Rs. 2,52,000/-. When on 24.3.03, the complainant approached the petitioner relying upon certain rule, petitioner informed the respondent that they are entitled only to the principal, as the KVPs have been purchased in an improper manner; no interest shall be payable to them as per rules.

(3.) It is in these circumstances, a complaint came to be filed before the District Forum, who after hearing the parties, allowed the complaint and directed the petitioner to pay the maturity amount along with interest @ 9% p.a. from the date of maturity till the date of payment. Aggrieved by this order, petitioner filed an appeal before the State Commission, which was also dismissed with cost, hence this revision petition.