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C.VISWANATH
Babu Sebastian – Appellant
Versus
Kottayam District Co-Operative Bank Employees Co-Operative Society Ltd. – Respondent


Advocates:
Counsel for the Parties:
For the Petitioner:Mr. N.G. Mahesh, Advocate

ORDER

C. Viswanath, Presiding Member.—The present Revision Petition has been filed against the order dated 25.02.2020 of the Kerala State Consumer Disputes Redressal Commission, Thiruvananthapuram (‘the State Commission’) in FA no. 48 of 2017.

2. The case of the Petitioner/ Complainant is that he joined a recurring deposit on 15.12.1999 with the Respondent/ Opposite Party, wherein, he remitted a sum of Rs.450/- per month for 120 months. He was promised 13% per annum interest and the maturity amount to be paid on 15.12.2009 was Rs.1,10,094/-. However, he got only Rs.1,00,851/- from the Respondent and Rs.9243/- was reduced due to reduction in the rate of interest from 13% to 11.5%. According to the Opposite Party, reduction in the rate of interest was as per the decision taken in the General Body meeting of the Society held on 26.06.2008. The Petitioner, however, stated that reduction of rate of interest was not included as an item in the agenda and on knowing that the rate of interest on his fixed deposit was reduced, he objected to it. As this amounted to unfair trade practice, a Complaint was filed before the District Forum with the following prayer:

• To direct the Opposite Par

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