STATE BANK OF INDIA Vs. PANGHAL AUTO INDUSTRIES

JUDGEMENT

(1.) BRIEFLY stated the facts of the present case are that the respondent -complainant M/s. Panghal Auto Industries got a Cash Credit (Stocks) of Rs. 2 lacs and 25% amount was deposited by the complainant. Thus, the complainant took insurance of Rs. 2,50,000. On 11.7.2006 all the records, items and other items of polish flown in the flood. An intimation regarding the flood was given to the appellant -opposite party on 12.7.2006 but nothing needful was done by the appellant. Compelled under the circumstances, the respondent -complainant invoked the jurisdiction of the District Forum.

(2.) UPON notice, the appellant -opposite party appeared and contested the complaint. It denied the allegations levelled in the complaint and took the plea that the respondent - complainant had not supplied the Stock Statement to the Bank as per rules. It was prayed that the complaint merited dismissal.

(3.) BOTH the parties adduced evidence in support of their respective claims. On appraisal of the pleadings of the parties and evidence brought on record, the President and one Member of the District Forum accepted the complaint vide order dated 4.7.2007 and granted the following relief to the respondent -complainant: