POST MASTER Vs. BASANT KUMAR SAINI

JUDGEMENT

(1.) HEARD. The controversy in the case lay in a narrow compass. Admittedly, respondent-complainant had opened a TDS account with the appellant-post office and deposited a sum of Rs. 4,500. The only dispute is only regarding its term as to whether it was for five years as claimed by the respondent-complainant or for one year as contended by the appellant-opposite party. The Forum below has held that it was for five years.

(2.) THE original account opening application form (Ex. D/3) is filed by the respondent. In the column providing for the time of deposit all the four items i. e. , 1, 2, 3 and 5 have been left open with a mark of " " made against all these entries. However, the Post Master concerned issued an acknowledgement Ex. P/1 clearly stating that the said deposit was made for five years. It is further significant to note that after one year, no action was taken by the appellant-Post Office to make payment of the maturity amount that clearly goes to show that the deposit was for five years and the appellant-Post Office was, therefore, liable to pay the maturity amount payable at the expiry of the said period of five years. However, the Forum below in the instant case has ordered for payment of interest at the rate of 12. 5% per annum from the date of deposit till payment. A further sum of Rs. 2,000 is awarded as compensation and Rs. 1,000 as cost. Interest of justice in our opinion, would be served by ordering payment of maturity amount payable at the expiry of the said period of five years with further interest at the rate admissible on saving bank deposit from the date of maturity till the date of payment. A payment of Rs. 2,000 towards compensation and cost will also be just and proper.

(3.) WE thus allow the appeal in part and to the extent indicated above. The appellant-Post Office shall pay to respondent-complainant maturity amount on the said deposit to be calculated for a period of five years. On this maturity amount further interest at the rate payable on saving bank accounts shall also be paid to the respondent. The appellant shall also pay a sum of Rs. 2,000 towards compensation and cost of litigation. The order impugned shall stand modified accordingly. Appeal partly allowed.