IN THE DELHI STATE CONSUMER DISPUTES REDRESSAL COMMISSION Date of Institution : 29.01.2020 Date of Reserving the order: 11.11.2024 Date of Decision : 14.02.2025 C No. 65/2020 IN THE MATTER OF Gurbinder Singh Kochhar & Sons, HUF (Through its Karta)

Gurbinder Singh Kochhar, R/o H-37, Vikas Puri, New Delhi-110018 (Through: Mr Neeraj Bansal, Advocate)

..…Complainant VERSUS Indian Overseas Bank, Through its Manager, F-100, Bali Nagar, New Delhi-110015 (Through: Mr Pramod, Advocate)

.....Opposite Party HON’BLE MS. BIMLA KUMARI, PRESIDING MEMBER Present: None for the complainant None for the opposite party HON’BLE MS. BIMLA KUMARI, PRESIDING MEMBER

ORDER

1. By this judgment, I shall dispose of the complaint filed by complainant against the opposite party u/s 17 of Consumer Protection Act 1986 with the following reliefs:-

a) Pass an order directing the Opposite Party to refund the amount of Rs. 9,20,833 /- along with interest @ 12% per annum from 31/03/2018 to the Complainant till the realization of the said amount.

b) Pass an order directing the Opposite Party to pay a sum of Rs.2,00,000/- as damages on account of deficiencies of service and unfair business practice.

c) Pass an order directing the Opposite Party to pay a sum of Rs.2,00,000/- as a compensation for mental agony, harassment, physical discomfort etc.

d) Pass an order directing the Opposite Party to pay a sum of Rs. 33,000/- as litigation charges and further notice charges of Rs.

5,500/-.

e) Pass any other order(s) or further order as this Hon’ble Commission deems fit and proper in the facts and circumstances of the case.

2. Brief fact of the case are that the complainant is an HUF and was maintaining a PPF account no. 019305000000188 since 1997 with the opposite party. The account was matured in the month of March 2013 but the said account was extended for a further period of 5 years i.e. till March 2018.It is the case of complainant that during the said extended period, he made several deposits during the financial year 2013, 2014 & 2015 according to the provisions and guidelines of the opposite party. As per statement of account, provided by the opposite party an amount of Rs 28,97,164/- was lying in the account as on

30.03.2018.

3. It is the further case of the complainant that the opposite party refused to accept further amount to be deposited in the aforesaid account, after the financial year 2015 on account of certain guidelines issued by Government of India. Thereafter, the complainant asked the opposite party to allow him to withdraw the amount but opposite party did not allow him to withdraw the said amount. It was told to the complainant by the opposite party that the amount could be withdrawn by him only after completion of the maturity period i.e. 30.03.2018. Thus, the complainant was forced to keep the entire amount in the account for a further period of 3 years. The complainant was also informed at that time that the PPF account would carry the same rate of interest as was applicable on the account from time to time. The complainant believed the version of the opposite party that it would pay the entire amount along with accrued interest till March 2018. Thereafter, he approached the opposite party to pay him the full and final amount but the opposite party issued a draft no. 407731 dated 16.04.2018 for a sum of Rs 19,76,331/-only, instead of paying the entire amount of Rs 28,97,164/- which was lying in the PPF account without stating any reason for paying the less amount.

4. It is the further case of complainant that opposite party without any information and valid reasons deducted an amount of Rs 9,20,833/- from the entire amount of Rs 28,97,164/-. The aforesaid act of opposite party act is manifestly wrong and arbitrary as the opposite party did not pay the amount with interest despite the issuance of statement of account to him. The complainant is entitled to receive the entire amount along with interest. The opposite party has retained illegally and arbitrarily a sum