TMI Blog2001 (6) TMI 780X X X X Extracts X X X X X X X X Extracts X X X X ..... On their maturity, the National Saving Certificates were presented for encashment but the post office concerned refused to do so on the ground that the National Saving Certificates cannot be issued in the name of the firm under the Rule 4 of the NSCs Vth Issue Rules, 1973. 3. Complainant stated in his complaint before the District Forum, Bahraich that it was the negligence of the postal officers or officials who issued the NSCs in the name of complainant Haji Dal Oil Mill which was a firm. Complainant was to receive a sum of Rs. 1,980 as the maturity amount of the NSCs, but since 14 years have elapsed, hence, the complainant demanded a sum of Rs. 2,960. The complainant also demanded interest at the rate of 18 per cent per annum and p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spond. These notices have not come back unserved and hence service is presumed. 9. We have perused the file and evidence on record. The main contention of the appellant is that according to rule 4 of the NSCs Vth Issue Rules, 1973; ( a ) Single Holder Type Certificates may be issued to an adult for self or on behalf of a minor or to a minor; ( b ) Joint A Type Certificates may be issued jointly to two adults payable to both holders jointly or to the survivor; and ( c ) Joint B Type Certificates may be issued jointly to two adults payable to either of holder or the survivor. If any certificates have been purchased in contravention of Rules they are void and no amount of interest due to NSCs shall be paid. We do not agree with this pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to the complainant from the date of maturity of NSCs till the date of release of the payment. Thus, the District Forum should have also awarded in addition to the maturity value of the NSCs, the interest applicable in the Saving Bank Account from the date of maturity till the date of payment. With this modification the judgment and order of the Distt. Forum is liable to be confirmed and the appeal is liable to be dismissed. Order 11. The appeal is dismissed and the judgment and order of the learned District Forum, Bahraich are confirmed with the modification that in addition to maturity value of Rs. 1,980 of NSCs and after maturity till the date of payment, interest as applicable on Saving Bank Account from time to time shall also ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
