POST MASTER GENERAL Vs. S JAYARAMAN

JUDGEMENT

(1.) The opposite party Post Master General, Southern Region, Madras against whom an award has been passed by the District Forum is the appellant.

(2.) 29 Members of the Institute of Polytechnic Employees Association have filed the complaint/represented by the President of the Association. The complainants purchased 5th issue of National Savings Certificate for the period from 1978 to 1980 from out of their Provident Fund Account. At the time of maturity the Postal Authorities stated that the National Savings Certificate 5th issue were wrongly issued to the Members of the Association as there was a prohibition for purchasing 5th issue from out of the Provident Fund Account. Therefore, the purchasers agreed to convert the 5th issue of National Savings Certificates into 2nd issue of National Savings Certificates with a stipulation that if the 5th issue would be held to be in order the purchasers would be at liberty to claim their rights as applicable to 5th issue. Accordingly they have been paid whatever amount due to them under the 2nd issue. While so, the High Court of Madras in Writ Petition No.16061/89 held on 27.9.90 that the 5th issue of National Savings Certificates purchased from out of Provident Fund Account was not irregular and it was in order and therefore the higher interest payable on the 5th issue shall be paid to the purchaser. The Postal Authorities have after some delay paid the difference of the maturity amount i. e. , the higher maturity amount due under the 5th issue and the lesser maturity amount payable under the 2nd issue. But they refused to pay the subsequent interest on this difference as claimed by the complainant/purchaser. According to the complainant this refusal of the Postal Authorities amounts to deficiency in service. On these grounds the complaint has been filed claiming the subsequent interest payable for each of the 28 complainants, one complainant having died during the course of. the proceedings.

(3.) The opposite parties contended interalia that the complainants have received the difference in the maturity amounts without any objection or reservation and therefore they are not entitled to claim any further interest on the difference in the amount.