MANAGER BANK OF INDIA Vs. RANKANIDHIOJHA

JUDGEMENT

(1.) Opposite-party Nos.1 to 4 are the appellants against the direction of the District Forum.

(2.) Case of complainant is that he opened a recurring deposit account with the Bank of which opposite parties are the officers to own a motor cycle under the scheme popularly known as 'save now buy later'. After sometime he discontinued the said account. About three years after, he filed an application on 6.6.1991 for financial assistance to purchase a motor cycle under another scheme 'buy now pay later' as per the advertisement of the two schemes. When his application was not attended to and he did not get the finance as applied for, complainant filed dispute on 28.9.1991.

(3.) Opposite-party No.1 on receipt of complaint stated his case. Other opposite parties did not prefer to state their cases in spite of receipt of copies of complaint. Case of the Opposite-Party No.1 is that the recurring deposit was for five years on monthly payment of Rs.100/- which was to mature in December, 1993. Prior to the maturity of the account, complainant applied for a loan. Since the complainant had not applied for in accordance with the terms and conditions of the scheme, he is not entitled to claim any loan.