Daijiworld Media Network - Udupi (SP)

Udupi, Oct 23: Udupi District Consumer Disputes Redressal Forum, which heard a complaint filed against the manager of Syndicate Bank, Sastan branch in the taluk, has ordered the manager of the bank to pay compensation of Rs 70,000 to the complainant.

It is said that Thomas Rodrigues from Airody village had obtained overdraft facility of Rs two lac through Sastan branch of Syndicate Bank. For this facility, he had offered two life insurance policies with a face value of Rs 75,000 as security. Allegedly, the bank officials, without sending any notice or informing the borrower, created certain documents on their own, and surrendered the policies. The policies were closed prematurely and only a part of the face value being surrender value was remitted to the bank. Rodrigues had approached the Consumers Forum accusing the bank officials of cheating him and meting out injustice.

President of the forum, Shobha C V, who scrutinized 34 documents submitted by the complainant, ordered the bank manager to pay Rs 70,000 to the complainant including court costs and others.

Against this verdict, an appeal has been filed in the state level consumers’ forum for enhancement of compensation. This application has been posted to October 30 for hearing.