PUNJAB NATIONAL BANK Vs. GIAN PRAKASH

JUDGEMENT

(1.) Caveat No. 1050/2014.

(2.) SOME officers of public sector banks in this country such as of the petitioner/Punjab National Bank (in short 'the Bank') in this case, it is seen that they can go to any extent in causing a perverse reading of the applicable circulars and guidelines issued by the Bank itself. Why this is done is not understood by this Court, but, the same surely besides causing a grave harassment to the customers of the bank, in fact in the facts of this case reflects an endeavour to over -reach the court's process. Possibly, even contempt action can and should be initiated by either the concerned court below or by the beneficiary of the Fixed Deposit (FD) in this case on account of the actions of the petitioner/Bank. The reasons for making the aforesaid observations are given hereinafter.

(3.) IT is also necessary and relevant to state that when the FD was to be encashed with respect to the total amount payable thereunder including interest up -to -date, the petitioner/Bank originally filed a Statement of Account stating that as on 22.1.2013, a sum of Rs. 69,14,155/ - was payable. Thereafter, the petitioner/Bank did a volte -face and claimed that the amount of Rs. 69,14,155/ - was not payable but only the amount of Rs. 45,95,414 was payable. It is this stand of the petitioner/Bank which has been decided by the impugned order holding that the petitioner/Bank cannot play a game with the court and the Bank was bound to pay the fixed deposit rate of interest and not the simple interest payable on savings bank accounts.