PUNJAB NATIONAL BANK Vs. SHANKAR MADHUSOODHANAN

JUDGEMENT

(1.) This revision petition has been filed by the petitioner against the order dated 31.5.2011 passed by the Kerala State Consumer Disputes Redressal Commission, Thiruvananthapuram (in short, 'the State Commission') in Appeal No. 410 of 2010 Punjab National Bank Vs. Shankar Madhusoodhanan by which, while dismissing appeal, order of District Forum allowing complaint was upheld.

(2.) Brief facts of the case are that complainant/respondent made FDR in erstwhile Nedungadi Bank Ltd. for Rs.5,50,000 with interest @ 12% p.a. On 28.2.2003, Nedungadi Bank Ltd. amalgamated with OP/Petitioner Bank as per Notification of Government of India. On maturity of FDR, complainant approached OP, but OP unilaterally reduced rate of interest and reduced payable amount by Rs.6.042/-. Alleging deficiency on the part of OP, complainant filed complaint before District forum. OP resisted complaint and submitted that interest was paid as per scheme framed by RBI for amalgamation. It was further submitted that complainant does not fall within purview of consumer and prayed for dismissal of complaint. Learned District forum after hearing both the parties allowed complaint and directed OP to refund interest amount of Rs.6.042/- with 12% p.a. interest and further directed to pay compensation of Rs.10,000/- and litigation cost of Rs.2,000/-. Appeal filed by OP was dismissed by learned State Commission vide impugned order against which, this revision petition has been filed.

(3.) Heard learned Counsel for the parties and perused record.