Ppf sbi cp act upto cc!

a rastogi (Querist) 11 May 2024 This query is : Resolved
Respected All learned advicates,

Below are the point wise summary of the matter of PPF Account at SBI,

1. Open a ppf account at sbi at 2005.
2. Once for a year some 2008 not able to deposit Min Rs 500, due to which 2009 with penaltity made the account regular.
3. On 5.9.2022, i went to bank to deposit money re 4000. Bank denied stating irregular account and any debit/credit will not be after maturity i.e. 2020. Bank advised to close the account and invest in oher schemes.
4. On asking of statement on 5.9.2022, bank denied stating audit is going on.
5. Considering the fact that when no debit/credit will happen there is no mean to keep account, I given closure application based on several bank staff advises, on which
they closed the account and given the money.
6. On 7.9.2022 when i talked my CA regarding taxation, he asked to give statement then only taxation things can be decided.
7. Immediately i again vivited bank seeing the statement on 7.9.22, where they given statement, after getting same, i came to know that interest has been credited even after maturity year 2020.
8. Considering that further heavy money as interest will be credited into account if i have not given closure application, I immediately float the application to bank for reinstate account, so that future loss can be saved.
9. On asking question from bank, helpline, sbi-ho when bank staff denied for any credit why after maturiity interests has been credited, i got no answer from any channel.
10. I kept on asking why interest has been credited when u said nothing will be debit/credit in account, but they kept silent on this point and stating no interest on further deposit. In short asking for x and as they can't accept the mistake, so keep on stating y and ignoring x.
10. From researching on internet, I came to know that as per https://www.nsiindia.gov.in/(S(brblxhn5i255banxl3i0dk45))/InternalPage.aspx?Id_Pk=79 THE PUBLIC PROVIDENT FUND SCHEME, 1968 (9)(clarification 4) " As per proviso to Rule 9(3) the subscriber can retain his account after maturity without making any further deposits for any period without limit. For this purpose, it is not necessary to give option in writing. It is automatic. Form H has since been amended. The balance in the account will continue to earn interest at the normal rate applicable to PPF accounts. The subscriber can make one withdrawal in each financial year of any amount within the balance. Once the account is continued without deposits, for more than a year, the subscriber cannot opt again to continue the account with deposits for a block period of 5 years. " The account was continued and bank credited interest.
11. I raised same issue at different channel like SBI-HO, Ombudsman, Govt Executive all channel, all are keep on stating same.
12. I approached Consumer commission, where they dismiss the petition :
A. I didnt discussed that fact that complaint has received amount in petition even though I have attached full statement where clearly amount has been shown and closure of account cant be without receive the amount. Finally CC termed as supression of facts and considered as i complain with unclean hands.
B. At the time of recive of amount, I didnt accepted amount with protest, i.e. right of complainant to sue cases and privity of contract comes to an end when complainant collected the amount.When there is no contract exist between then , the question og initiating legal action under the same cause of action is not permissible.When no right and cause of action to sue op consequent by he has no locus-standy to file present complaint.

13. My point is no where our ground has been answered by bank or even mentined into order of cc.
My points were :
(i) Misleading information by bank that no debit/credit will happen after maturity but in two consequtive years interest has been credited.All are totally silent on this point branch, ho, govt executive, onbudsman, now cc too is nowhere answereing the fact even mentined in order passed.
(ii) Not providing account statement on demand on 5.9.2022.
I have not demanded any interest on the deposit done after maturity but whatever the amount were before same that deserve the interest as account is automatically extended by bannk as credting intrest after maturity without any closure.
(iii) Based on misleading information i.e. via provoking and pushing for closure by misleading advice i received money, when i am in bank, i will take the provided information is correct but that was wrong the same is commitment given by the bank. Hence taking acceptance based on misleading information and hiding account statement by no providing even on demand is clear cut case of deficiency of service. But neither anyone answered nor even Consumer Commission has given any reference in order.

Kindly hely by advising on the what next steps i may take further to save loss which i beared due to misleading information from bank.

Thanks & Regards.
A Rastogi

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Quick Summary

A customer opened an SBI PPF account in 2005 which became irregular for a year in 2008. In 2022, the bank denied deposits, stating the account was irregular and closed after maturity in 2020. The customer was advised to close it, which they did. Later, they discovered interest was credited after maturity, and applied to reinstate the account to avoid further loss. Despite raising the issue through various channels, including the Consumer Commission, their petition was dismissed. The customer is seeking advice on further steps to recover potential losses due to alleged misleading information from the bank.

T. Kalaiselvan, Advocate (Expert) 11 May 2024
Believe you have already filed a case before consumer commission?
What was the relief sought by you in your complaint?
What is the disposal detail of the consumer complaint case?
Your lengthy question containing the dates of events alone without furnishing the proper details about the difficulties or grievances or losses you suffered would be very vague in nature.
You may better consult an advocate having thorough experience in this filed either in the local or one from this forum, in person and have a clarity about the steps to be taken on this in furtherance

a rastogi (Querist) 11 May 2024
Sir,

Thanks for your reply. I am sharing the asked information as below...

Yes! I got order of dismissial from district consumer commission. I sought the relief of reinstate the ppf account as the amount of maturity was some 12l, which interest will be some 1.5lpy, on an average, if i start from the beginning it wil land to some 10k so almost 95% of loff per year i do have due to misleading advise by the bank. Disposal details I already provided as they dismissed based stating 1. supression of fact by not talking on receiving the end amount. 2. Received amount without protest. 3. Bank has done as per procedure. 4. Without protest mean ceases the right to sue. 5. Privity of contract comes to an end when i received the amount. 6. No contract mean no leagal action permissible. 7. No right mean no locus-standy.

Issue: Neither oppositon nor commission responded on our ground, responding is distant, none has even any reference in order or any response of out pleas. Seems none even read or completely ignored and read to idetify the ground of dismissial. In final I am about to bear heavy loss.

Hence require suggestion to get relief of further remedy, bank is misleading and even after not provided statement, are major concern here which none even referencing anywhere even after write into petition very well.

Regards.
A Rastogi

T. Kalaiselvan, Advocate (Expert) 11 May 2024
You do not have documentary evidences to prove your case for deficiency in service.
You orally say that the bank staff have misguided you but the oral pleadings cannot be entertained especially in the event of you availing the entire amount without even making an endorsement towards your objection.
If you are aggrieved by the judgment of the consumer commission you can prefer an appeal before the state commission, though there is no guarantee for a favorable decision by the appellate commission.

a rastogi (Querist) 11 May 2024
Sir, Thanks for your valuable help. I just want to ask one things, can I add some additional evidences in appeal to sc ? Actually some emails later identifies which was not on record in cc additionally can I use witness in appeal ?? If yes then what will be the procedure. Regards., A Rastogi

a rastogi (Querist) 11 May 2024
Kindly suggest if some other ways or channel ??,

T. Kalaiselvan, Advocate (Expert) 12 May 2024
The appellate court will not entertain any additional evidence other than the ones already produced before the lower courts.
The judgment is very clear about the settlement details and it also very clearly states that you have exhausted the remedies hence any amount pursuance in this regard may not fetch you any more relief.

Sudhir Kumar, Advocate (Expert) 12 May 2024
Perusal of all papers is needed before coming to a considered view.

P. Venu (Expert) 13 May 2024
The posting too disjointed and judgmental to make an easy reading. Having taken the pains to go through the posting and the attempted clarification thereunder, what I could understand is that you have suffered loss of interest because of the closure of the PPF account, allegedly, at the behest of some employees. Admittedly, the alleged loss is rather hypothetical and does not and cannot, in my understanding, a cause of action.

a rastogi (Querist) 13 May 2024
Sir, It's not hypothitical, interest on 12 l credited till date of closure and afterwards in new account the interest was on 1.5l maximum, hence as the principal amount is reduced by some 90% hence interest too, that 90% interest was just heavy loss , minimum approximately 3 to 4 lacs if considered only for 3 more years and if further we may have additional loss too... if maximum we take the case this will lead upto some 25 to 30l.

What u say this in leagal term, that I m not aware ?

Regards.
A Rastogi

T. Kalaiselvan, Advocate (Expert) 13 May 2024
You are giving the explanation of the loss you suffered but before that you are not admitting that it was due to your hurry and haste that you settled down with the offer made by the bank and now you are making the statement that the bank staff misguided you.
You are well educated and a prudent person in this subject then there is no reason for you to accept everything in a hurry at that time and later on realizing that you suffered a loss, hence you approached consumer commission with a complaint for deficiency in service.
You have not produced any material evidence before the consumer commission to prove the allegations of deficiency in service.
Your appeal before the appellate court also was not entertained in line with the trial court court judgment
Now there is no point in repeating the same message in different form in this forum

Sudhir Kumar, Advocate (Expert) 15 May 2024
despite such a long narrative you could not explain your problem understandable in one reading.

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