MADAPPALLY SERVICE CO-OPERATIVE BANK LIMITED Vs. P T CHACKO

JUDGEMENT

(1.) THE first opposite party in OP 690/01 before the CDRF, Kottayam has come up in this appeal against the order dated 10.6.2005 wherein and thereby the opposite party are directed to pay jointly and severally a sum of Rs. 45,000 less the interest payable by the opposite parties with interest at the rate of 9% per annum from the maturity date of the fixed deposit made by the complainant till the date of payment along with cost of Rs. 2,000.

(2.) THE grievances voiced bereft of unnecessary details in the complaint are that the complainant had deposited a sum of Rs. 1,45,000 on 15.2.2001 with the first opposite party bank for 6 months. He availed himself of a loan of Rs. 1 lakh on 22.2.2001 upon the security of the said fixed deposit receipt as loan No. 420/01. When the complainant approached the opposite parties for withdrawing the balance amount of Rs. 45,000 on the maturity date of the above said deposit, the first opposite party refused to pay the sum on the ground that the loan amount availed by the petitioner was Rs. 1,30,500 and not Rs. 1 lakh as per the entries in the books of accounts of the first opposite party. It is the case of the complainant that even though he produced the voucher dated 22.2.2001 showing that he had taken only Rs. 1 lakh as loan, the opposite party did not heed to the request and hence the complaint was filed for directions to the opposite parties to pay him the amount of Rs. 45,000 with interest at the rate of 12% per annum, compensation of Rs. 15,000 and costs of Rs. 1,000.

(3.) THOUGH notices were issued to the opposite parties only the first opposite party/the appellant had entered appearance and filed the version. The second opposite party remained absent even after paper publication and hence was set ex parte.