BEFORE THE BANKING OMBUDSMAN, V D SATHEESAN OPPOSITION LEADER, BENNY BEHENAN M P

Mass Petition submitted by the under signed persons

We, the under signed, are the inhabitants of Aluva Town and its close proximity.  We have close contact and business connection with Union Bank of India, Main Branch, Aluva for the last so many years.

​Trusting the Bank and attracted in the Scheme we, on various dates, pledged our Gold Ornaments, including the Thali Chain and other ornaments secured for the marriage of our children, for obtaining the Gold Loan. But to our utter dismay we came to know that one of your employees had stollen all our Gold Ornaments from the Bank Locker and misappropriated the same for her own needs, by deceiving the Bank and its customers.

​By knowing the shocking news, we rushed to the Bank planning to initiate legal steps for getting back our lost gold article.  At that time the then Branch Manager consoled us and assured that none of our Gold Ornaments would be lost and it will be returned to us intact soon after its recovery and also offered to substantiate our loss on closure of the loan account.

​Trusting the Manager, we did not initiate any legal action against the Manager and accepted the offer of the Bank in the belief that our gold will be returned to us it recovered. Upon the instruction of the Bank, we closed the loan account by receiving some amount as the value of the gold from the Bank.  At the time of closure of the loan, the bank also deceive us by claiming 9% interest instead of 4% the agreed rate of interest.

​Meanwhile so Police booked case against the said employee as CC/2020 in the Judicial First Class Magistrate Court No:1 at Aluva and recovered almost all the stolen articles.  As directed by the Police we went to the Police station and identified our gold ornaments.  The Police informed us that they will produce all the recovered article before the Court as material object in the above case.

​On production of the gold articles before the court we filed individual petitions before the Judicial First Class Magistrate Court No:1, Aluva claiming our gold articles.  The Bank resisted the claim petition contenting that our claim petitions are liable  to be dismissed as the actual market value of the ornaments has already been paid to the respective owners including the undersigned. The said stand taken by the Bank is quite against the fact and understanding arrived at between the Branch Manager and the owners of the gold items.

The pledged articles are not sheer gold ornaments and we have sentimental attachment towards it.  Most of the pledged items are antique collections, and blessed items like Thali chains, Marriage ring etc. and it cannot be valued in terms of money.

We were compelled to close the loan accounts and agreed for settlement  in a particular situation that there is no possibility to regain our articles intact.  Now the articles are recovered by the police and are kept in the Judicialcustody.  In such a situation we are entitled to get it back and the Bank has a moral and legal obligation to return it to the respective owners.  The undersigned parties are ready to remit back the amount received by them from the Bank without interest.  The Bank has bounden duty to return the article as the Bank has liability to protect  theinterest of its customers, especially when the malpractice was done with the negligence and advertent mistake of the Bank authorities.  The present attitude of the Bank is not at all feasible and appreciable and we cannot tolerate or suffer it any more.  If the Bank has to show magnanimity to safe guard the interest and feelings of the customers, to avoid our long standing sufferings.

​Therefore, it is humbly requested that your good self may kindly interfere in this regard and make necessary arrangements and efforts to ensure the gold articles should reach safely intact in the hands of the respective owners at the earliest to avoid unwarranted and never-ending legal recourses.

​Dated this the 26th day of August 2021.