Axis Bank to pay Rs 6.1L for not paying maturity amount on FDR

The National Consumer Disputes Redressal Commission (NCDRC) also imposed a fine of Rs 10,000 on Axis Bank for not complying with the orders of the subordinate fora which had directed the bank earlier to refund the amount.

The NCDRC order came on a plea by the Axis Bank against the two concurrent orders of the district consumer forum and the state consumer commission to refund the money.

"It is apparent from the record that the only intention of the petitioner (Axis Bank) is to delay and not comply with the orders passed by the district forum as well as that of the state commission and to harass the respondent.

"Under these circumstances, present revision petition being without any legal basis is hereby dismissed with costs of Rs 10,000. Petitioner is directed to deposit the cost in the name of Consumer Legal Aid Account," the bench presided by Justice V B Gupta said while dismissing the Axis Bank's plea.

As no one had appeared on behalf of Axis Bank in the state commission, it had dismissed the Bank's appeal against the district forum's verdict directing it to refund Rs six lakhs invested in FDR by complainant Jagdish Chander Kudesia, a Delhi resident.

The district forum's order had come on Kudesia's plea that the bank had not

... contd.