B. SUDHEENDRAKUMAR, AJITH KUMAR D., RADHAKRISHNAN K. R.
Sobha C. – Appellant
Versus
Kuzhalmannam – Respondent
ORDER
B. Sudheendra Kumar, President—The appellant is the complainant in C.C.No.41/2024 on the files of the District Consumer Disputes Redressal Commission, Palakkad (for short, ‘the District Commission’).
2. The complainant deposited Rs.2,90,946/- as fixed deposit with the 1st opposite party society on 01.04.2020 at an interest at the rate of 8.25% per annum. On 01.04.2021, when the fixed deposit attained the maturity period, the complainant demanded the amount. However, the amount was not released to the complainant. Instead of releasing the amount to the complainant, the fixed deposit was renewed from year to year by the opposite parties without the consent of the complainant. Accordingly, the fixed deposit was renewed up to 01.01.2024. Finally, the complainant approached the District Commission with the above complaint alleging deficiency in service on the part of the opposite parties.
3. The opposite parties filed a joint version admitting the deposit made by the complainant. The opposite parties further admitted that the opposite parties failed to refund the amount deposited by the complainant. The opposite parties contended that since many persons who had availed loan from t
(1) “Deficiency” – Section 2(11) defines deficiency as any fault, imperfection, shortcoming, or inadequacy in the quality, nature, and manner of performance which is required to be maintained by or u....
Liability for non-refund of deposits – A financial institution or entity cannot escape liability for non-refund of deposits by merely denying the transaction or the relationship in its pleadings. Whe....
Principal can be held liable for wrong committed by its Authorised Agent.
Banking Services – Deficiency in Service – Consumer Dispute – Amount deposited by complainant is at the disposal of Bank & service rendered by bank is not a free service.
“Any customer who deposits amount under Reinvestment Plan is under assumption that the FDR will be renewed either till he approaches or gives any other specific instruction to the Bank.”
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