BANK OF BARODA, LODRA Vs. GITABEN BALDEVBHAI RAVAL

JUDGEMENT

(1.) COMPLAINANTS 1 and 3 had invested a sum of Rs. 2,00,000 in four fixed deposits with opponent No. 1/Petitioner. At that time, opponent No. 2/Respondent No. 4 was working as a Manager with the Petitioner and he was also tenant in the house of the complainant. The complainants 1 and 3 had accompanied opponent No. 2/Respondent No. 4 to the bank for making the said deposits. Complainant No. 2's /Respondent No. 2's name was subsequently added in the fixed deposits. According to the complainants they had signed different papers as required and submitted by opponent No. 2/ Respondent No. 4. The fixed deposits were to mature on 6.2.1995. The amount in the fixed deposit was withdrawn within a month of its deposit. The complainants came to know of the same after the opponent No. 2/Respondent No. 4 was transferred from the bank. Correspondence was exchanged between the complainants and the bank as also notices after which the complainants approached District Forum for redressal of their grievances. Subsequently, when the proceedings were pending before the District Forum, the bank had filed FIR with the Police against Manager -opponent No. 2 alleging fraud, forgery and misappropriation of money by him.

(2.) DISTRICT Forum held both opponents namely bank and the Manager jointly and severally liable and directed them to pay the said amount of Rs. 2,00,000 with interest @ 13% upto maturity date and thereafter 12% interest per annum. The opponents were also directed to pay Rs. 2,500 towards mental harassment and Rs. 1,000 as costs.

(3.) THE order of the State Commission is the subject matter of challenge in this revision filed by the bank. No revision has been filed by Bank Manager. We have heard Counsel appearing for Petitioner bank, complainants/ Respondent Nos. 1 to 3 and Respondent No. 4.