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Judgment
THE complainant is a Public Trust and had deposited Rs.2 lakhs under fixed deposit on 5.10.1991 with the opposite party, viz. Chetana Co-Op.Bank Ltd. (hereinafter referred as Bank). Another Fixed Deposit of Rs. 5 lakhs was deposited with the bank on 1.11.1991. Both the fixed deposits were to carry interest. Both the deposits matured forpay lent to the complainant on 5.10.1992 and 1.11.1992 respectively. THE complainant alleged in this complaint that the interest agreed on the a foresaid deposits were paid to the complainant by pay order which he deposited in the State Bank of India in his account but the pay order was dishonoured. THE complainant therefore, alleges that there has been serious deficiencies in the service of the opposite party. THE complainant therefore, prays that he should get the amount of his Fixed Deposit with interest and also Rs 3 lakhs as compensation.
THE opposite party appeared through their clerk Slid Ramesh Bujaru on 11.3.1993. THE complaint was adjourned and fixed today. But none appeared on behalf of the opposite party. THE opposite party also did not file any affidavit or documents, or any written version. In absence of the opposite party, we proceeded ex-parte and heard the complainant. The allegations made in the complaint are duly supported by the copies of the Fixed Deposits and the correspondence ensued between both the parties. Since the allegations made in the complaint are not controverted by the opposite parties, we find that the complainant has proved his allegations in this complaint. The deficiencies in the service of the opposite party has been clearly established. We further find that complainant has been put to loss of substantial amount due to the negligence in the service of the opposite party. Complainant''s amount of Rs.7 lakhs is lying with the opposite party since a considerable period and the complainant alleged that they are finding difficult to run the public trust forwent of funds. The amount deposited with the opposite party is a trust property and not an individual property and therefore, the complainant deserves to be compensated for the loss caused to them as a result of negligence in the service of the opposite party. Hence we pass the following order. ORDER
The Opposite Party viz. Chetna Co-operative Bank Ltd. shall refund to the complainant Rs.7 lakhs under 2 Fixed Deposits together with agreed interest of 14% and 14% respectively and also shall pay Rs. 25,000/- as compensation to the complainant for the loss suffered by them. Complaint allowed. _____________