ANDHRA BANK Vs. W M THIRUNAVUKKARASU

JUDGEMENT

(1.) The opposite party, Andhra Bank, Vellore against which an award has been passed is the appellant. The case of the 1st complainant (1st respondent herein) is that a Fixed Deposit of a sum of Rs.8,000/- was made in the names of himself and his son 2nd complainant (2nd respondent herein) with the opposite party Bank under the title "either or Survivor", for a period of 15 months and 25 days with cumulative interest at 10% per annum. The son's name was included because of the 1st complainant's old age. The maturity value would be Rs.9,113.20 on 30.9.90. This amount is liable to be paid to "either or Survivor". The 1st complainant presented the deposit receipt in the opposite party Bank duly discharged by him and his son on a stamped receipt for payment on 1.10.90. The 1st complainant was told by the opposite party that the deposit amount has been frozen by the Central office, and they returned the deposit receipt to the 1st complainant. According to the 1st complainant, the said refusal of the opposite party for payment of the matured amount to him is deficiency in service. On these allegations the complaint has been filed for directing the opposite party to pay the maturity value of the amount of Rs.9,113.20 with further interest on the principal of Rs.8,000/- at the rate of 18% from 1.10.90 till payment and for directing the opposite party to pay Rs.8,000/- towards compensation for the physical and mental agony suffered.

(2.) The opposite party contended that the amount deposited belonged to W. T. Seshachalam the 2nd complainant and since he was a staff member in the opposite party Andhra Bank, he was granted the staff rate of interest i. e. ,1% more than the normal rate. The said W. T. Seshachalam the 2nd complainant while he was working in the Madras Branch, committed misappropriation of Rs.3,25,165/-. Therefore, in order to safeguard the interest of the Bank and general public, the Central office of the opposite party freezed all the accounts of the said Seshachalam then standing in his individual name as well as joint names carrying the staff rate of interest. They further contended that the case involved various mixed questions of law and facts. Therefore the matter cannot be decided in a Consumer Forum. Hence the complaint is liable to be dismissed.

(3.) The District Forum, on consideration of the pleadings and evidence, came to the conclusion that since the deposit is titled "either or Survivor" even if the said Seshachalam the 2nd complainant had committed misappropriation as alleged by the opposite party, nothing prevents the father the 1st complainant from claiming the amount. On this finding, the District Forum granted an award directing the opposite party to pay to the complainant the maturity amount of Rs.9,113.20 with further interest on the principal amount of Rs.8,000/- at the ruling rate of interest at 18% per annum from 1.10.90 till payment and also to pay Rs.5,000/- as compensation for physical suffering and mental pain. It also awarded Rs.200/- as costs.