JILA SAHKARI KENDRIYA MARYADIT BANK THROUGH BRANCH MANAGER AMANAT BRANCH NEXT TO POLICE STATION SEONI TEHSEEL AND DISTRICT SEONI M.P. Vs. NIRMALA RANI UPADHAYA & ANR. WD/O LATE CHANDRIKA PRASAD, OPPOSITE SATYA KABIR NIKETEN CILLEGE ROAD,BHAIROGANJ SEONI M.P.

JUDGEMENT

(1.) No one is present for the respondents - Nirmala Rani Upadhaya and Sanjeev Kumar Upadhaya. The notice sent to them by Regd. Post have been returned with the endorsement refused to accept . The refusal to accept the notice, when tendered by the postman, amounts to a valid service and, therefore, the respondents are deemed to have been duly served. I have heard the learned counsel for the petitioner.

(2.) The complainants/respondent deposited three amounts, one of Rs. 97,000.00, the other of Rs. 91,000.00 and the last of Rs. 3,60,000.00 with the petitioner Bank in Fixed Deposits. The first two deposits were to mature after 5 years, whereas the last deposit was to mature after one year and three months. After about four years of the deposit when the complainants approached the Bank for renewal of the Fixed Deposit of Rs. 97,000.00, it was renewed for further period of 5 years from the date on which it had matured. However, when they approached the Bank for renewal of the remaining two deposits, the petitioner Bank refused to renew them from the dates on which they had matured, saying that the policy of the petitioner Bank having changed. In the meanwhile, the said deposits could not be renewed retrospectively from the date on which they had matured. Being aggrieved, the complainants approached the concerned District Forum by way of a complaint.

(3.) The complaint was resisted by the petitioner Bank. The District Forum vide its order dated 28.10.2014 directed the petitioner Bank to renew the remaining two Fixed Deposits from the date on which they had matured and also awarded compensation quantified at Rs. 3,000.00 and cost of litigation quantified at Rs. 1,000.00 to the complainants.