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Judgment
4 paragraphs · 701 wordsTHIS is an appeal against the order dated 20.10.1992 passed by District Forum, Kanpur in Complaint Case No. 489/1993.
THE brief facts of the case stated in brief are that the complainant-respondent have got five N.S.Cs. of total amount of Rs. 35,500/- which were of the value of Rs. 71,532.50 on the maturity. THE complainant-respondent deposited the N.S.Cs. for the payment by credit in their S.B.I. Account or to be paid by the cheques but the appellant-opposite party refused to deposit the credit amount of the N.S.Cs. in their S.B.I. Account and the amount was paid by cheques which took 20 days'' time and thus they are entitled to receive the interest amounting Rs. 705/- and also Rs. 148/- for cost of stationery and Rs. 8,000/- as compensation for mental agony. The respondent-appellant filed their written statement before the District Forum and raised the objection regarding complainants filing their joint complaint instead of individual complaint and, therefore, not maintainable. It was also alleged that some of the complainants wanted their payment through cheques and some of them wanted to credit the proceeds of the N.S.Cs. in their S.B.I. Accounts but since these were pledged with S.B.I. therefore, there has been some delay in payment for which the respondent is not responsible and hence the question of payment of interest, cost and compensation does not arises. The District Forum did not agree with the pleas taken by the appellant-respondent regarding the delay on account of the facts of the N.S.Cs. being pledged with S.B.I. The District Forum in its judgment and orders, directed the opposite party to pay the interest for 20 days on the aforesaid N.S.Cs. alongwith a compensation of Rs. 100/- as expenses to the complaint. Aggrieved against this order the appellant has come up in appeal and has challenged the correctness of the order passed by the District Forum.
Notices were sent to the parties in the month of December 2001 for disposal of appeal on 9.2.2001. Since then the appeal has been fixed on date to date basis but the parties are not present. The notice so sent have not come back hence, service is deemed sufficient. Hence, the appeal is being decided on merits.
WE have gone through the record of the appeal. A perusal of the judgment/order of the District Forum reveals that the opposite party in their written statement had stated that the certificates in question had been pledged with the S.B.I. and the opposite party took some time to pay the amount to the complainants either by deposit in their account or through cheque and in this process some time was taken. The District Forum ought to have taken into consideration the facts, that the certificates were pledged and a transfer was required in the name of the original holder who is the pledger. In the memo of appeal it has been stated that even the fee required for the transfer has not been deposited by the complainant. In support of this plea the appellants have quoted Rule 11 of the N.S.Cs. Rules which lays own that for any certificates purchased and acquired in contravention of the rules when the regular holding against which no interest shall be paid. The appellant have got certificates transfered from the name of S.B.I. and that credited the amount either in the account standing in names of the depositors or issued cheques. Therefore, a delay of 20 days was caused in intra departmental procedure involved which does not justify awarding of interest and as such there has been no deficiency in service on the part of the appellant. Hence, the complainant is not entitled to any interest for a delayed period of 20 days as the certificates were pledged by the complainant themselves with the S.B.I. and the process of transfer was bound to take some time. In the circumstances stated above the judgment/order of the District Forum are liable to be set aside and the appeal to be allowed. ORDER The appeal is allowed and judgment/order of the District Forum are set aside. No order as to costs. Let copies of this judgment/order be made available to the parties as per rules. Appeal allowed.
