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Judgment
On a conjoint reading of the order of the Hon''ble Supreme Court dated 3.8.2015 , the order passed by this Commission on 29.9.2014, the order passed by the State Commission on 4.4.2016 and the order passed by the District Forum on 18.1.2016 I am of the considered view that the following amounts were payable by the respondent Bank to the petitioner/complainant:-
Excess interest charged from the complainant;
Penalty amount of Rs.1 lakh awarded by the District Forum;
Interest on the excess interest charged from the complainant w.e.f. 30 days from the date of receipt of the order of the District Forum till the date on which the aforesaid excess amount was actually paid to the complainant;
Cost of litigation quantified at Rs.5,000/-.
As far as the amount of excess interest charged from the petitioner /complainant is concerned, the respondent Bank has stated in its affidavit dated 2.5.2017 that the aforesaid amount was Rs.451456/-. Out of this, a sum of Rs.280993/- was paid to the petitioner/complainant on 6.9.2015 and the balance amount of Rs.184526/- has not been paid so far since the cheque for the amount was sent to the petitioner/complainant by post and was received back with the endorsement ''unclaimed'', though it was sent at the correct address available on record at that time. The petitioner/complainant had by that time shifted from the aforesaid place but had not intimated the new address to the Bank. The penalty amount of Rs.1 lakh and the litigation cost of Rs.5,000/- has also been paid to the complainant on 6.9.2015.
As directed earlier, while computing interest at (i) above the respondent Bank will also be entitled to deduct the period during which execution of the order of the District Forum had remain stayed, details of which are available in pars 6 & 7 of the affidavit of the respondent dated 2.5.2017.
The respondent Bank, therefore, is required to make the following additional payments to the petitioner/complainant:-
Simple interest @ 12% p.a. on the amount onRs.451456/- for the period commencing 30 days w.e.f. 10.7.2009 till 5.9.2015.
Simple interest @ 12% p.a. on the amount ofRs.170463/- w.e.f. 6.9.2015 till 8.12.2016.
As far as interest on the balance amount of Rs.170463/- for the period from 9.12.2016 is concerned, the Bank cannot be asked to pay interest on that amount @ 12% p.a. it having already made an attempt to pay the said amount by sending the same to the complainant by cheque at the address available with it at that time. However, since the Bank has utilised that amount, some interest, in my opinion, should be paid by it to the complainant on that amount. Considering all the facts and circumstances of the case, the respondent Bank shall pay interest @ 6% p.a. on the aforesaid amount of Rs.170463/- w.e.f. 9.12.2016 till the date on which the balance payment in terms of this order is made.
The payment in terms of this order shall be made by the respondent Bank within two weeks from today, at the address available in the present revision petition. The cost in terms of the last order of this Commission has been paid to the complainant. The revision petition stands disposed of.