NCDRC JUDGMENT ON THE CALCULATION OF RATE OF INTEREST ON INVESTMENT FOUND WRONG BY POSTAL DEPARTMENT DEFICIENCY.

 

This was RP No 1573 of 2013 from the order dt. 16.1.2013 from Rajasthan State Commission which was finally decided by National commission on 7.8.2015. The issue was –Investment in NSS found wrong because as per Post Office Manual VOL.1, RULE 156 an individual depositor like complainant can open only one NSS account all over in India. District forum at Jaipur had made an observation-

“according to the above submissions ,we find that it was the duty of the complainant to disclose the fact with regard to earlier account number opened by the complainant .According to the above said rule and submitting false declaration by the complainant we do not find any deficiency of services on the part of the respondents/opposite party “ 

On the other hand complainant states that he is a consumer and at the time of opening the account the rules were to be followed by the respondents and the same have not been disclosed to the complainant .Hence rate of interest on another NSS as saving account is not acceptable to him.

Complainant went in Appeal to State Commission .State commission was of the opinion that opposite party has to prove that complainant has made false declaration 16 years back. Department could have closed the account or give notice to the complainant to this effect .This fact stands not proved that complainant was aware of the rule at the time of opening an account When case comes before the National Commission ,opinion of two Members differs . Hon’ble Member Sh Vinay kumar is of the view-

On the point that one individual can open only one account under rule -4,the same rule cast duty upon the department to take undertaking from the account holder that he is not maintaining any other account under the scheme There is nothing on record that such undertaking was taken. Complainant’s case is that he was never informed that second account was not permissible .Hence there is no deliberate intention to cause deceit to the respondent .Hence complainant entitled to full rate of interest under NSS Scheme.Justice K.S Choudhuri found complainant had not come with clean hands, hence set aside the order passed by State Commission Alwar which was passed in favour of complainant. 

The matter was now referred to third independent judge Sh. Ajit Bhariok who discussed the law connecting to this case for reaching to some logical conclusion. After going through the entire set of papers and issue in dispute, it is held by the commission now that-opening of two NSS accounts under the scheme by an individual is not permissible as per rule of NSS Scheme 1987.The complainant has opened second NSS in different post office that does not change the rule or status of deposit. This was also an argument that opening two NSS are not barred but benefit under the scheme shall not be given on second NSS, hence it was not the duty of staff to close it or give notice or to remind every depositor about wrong done by him. 

Another issue was as to whether awarding compensation for deficiency in service on the part of department was justified .It was made clear that awarding compensation to be paid by the department for no wrong done is also found not justified. Hence it is clear now that it is the depositor who has to understand rule, terms and conditions before making investment.

 

 

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