Manager, UCO Bank vs SURENDRA KUMAR BARA

THE complainant-respondent''s case is that he had opened an account with the appellant UCO Bank, Kuanpal Branch, Cuttack, under a scheme called Laghu Bachat Yojana on 24.2.1993. THE respondent No. 2 is the agent of the said Bank and he collected the deposits periodically from the respondent No. 1 on behalf of the Bank and also was making due entries in the concerned pass book issued by the Bank under his initial. After collection of Rs. 7,130/- upto 1.9.1995, respondent No. 2 did not turn up for a long time to collect. Respondent No. 1 applied to the appellant-bank on 15.12.1995 for withdrawal of the entire deposit for his business. THE Bank Authority told that a sum of Rs. 3,080/- was available in his account and he was not allowed to withdraw the money applied for as because respondent No. 2 had misappropriated the rest of the money for which an F.I.R. had been lodged.

THE appellant in his written version denied the liability, although the pass book reflects the balance of Rs. 7,130/- which has been signed by the Agent in token of receipt. We have perused the materials on the record. In our considered opinion, we direct the appellant to pay a sum of Rs. 7,130/- (Rupees seven thousand one hundred and thirty) which has been deposited with the Bank''s Agent by the complainant, with admissible interest under the LBY Scheme, and also to pay a sum of Rs. 3,000/- towards compensation for mental agony, harassment and cost of litigation.

The Bank to take steps for recovery of the misappropriated amount from its Agent.

THE appellant Bank has deposited a sum of Rs. 9,130/- vide FDR bearing No. 289389 dated 11.12.1997 with the office of this Commission. THE same may be released with admissible interest in favour of the complainant. THE office of the Commission is to send the copy of this order to the complainant within 7 days. Appeal disposed of.