SARVA U.P. GRAMIN BANK Vs. RAKESH KUMAR

JUDGEMENT

(1.) FACTUAL matrix of this case in brief are that the Complainant had deposited Rs. 1,01,750 with the Rani Laxmi Bai Kshetriya Gramin Bank, Jhansi, a sister concern of the Punjab National Bank. This Bank was merged by the Government of India and now it is known as "Sarva U.P. Gramin Bank", which is also a sister concern of the Punjab National Bank. The aforesaid amount was invested in FDR for a period of six months. As the request of the complainant for repayment of amount was not considered, he filed a complaint in the year 1999 for recovery of his dues.

(2.) THE claim of the complainant was contested by the Bank stating that FDR in question is a forged one which might have been issued in connivance with the then Bank Manager, Mahesh Kumar Verma, whose services have been terminated for misappropriation of huge funds of the Bank. Another version put forth by the Bank was that the complainant had already availed of the facility of overdraft of Rs. 95,000 which was denied by the complainant stating that he had never requested for opening of overdraft account.

(3.) THE Bank's version that the complainant had obtained overdraft facility could not be proved because the Bank has not been able to produce any application of the complainant containing a request for overdraft facility. Further, as his FDR was maturing on 17.9.1998, there would have been no need for him to avail of overdraft facility just five days before its maturity i.e. on 12.9.1998. Accordingly, the District Forum directed the Bank to pay Rs. 1,01,750 along with 12% interest from 17.9.1998 until the payment was made along with litigation cost of Rs. 500.