STANDARD CHARTERED BANK Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The petitioner has filed the Writ Petition to issue a Writ of certiorari to call for the records on the file of the Debt Recovery Appellate Tribunal relating to the impugned order dtd. 12/3/2018 in R.A.No.17 of 2009 and to quash the same.

(2.) It is the case of the petitioner that the 2nd respondent opened a Savings Bank Account in the petitioner - Bank on 6/5/2002 based on the Driving License as his identity proof. Soon after the opening of the account, the 2nd respondent deposited four Demand Drafts, totally for a sum of Rs.24,69,970.00 with the petitioner - Bank.

(3.) The 1st respondent - Bank contended that the 2nd respondent had stolen 50 leaves of Demand Drafts from one of their Banks in Punjab and the 2nd respondent purchased Drafts for smaller amounts from the 1st respondent - Bank at various places. Thereafter, by forging the signature, deposited the Demand Drafts with the petitioner - Bank. It is also the case of the 1st respondent that the 2nd respondent had also chemically altered the name of the Branch and also printed the Serial Numbers on the stolen Drafts and substituted them with the Branch Name and printed Serial Number available on the Demand Drafts actually purchased for smaller amounts and filled up larger figures on the stolen Drafts. The 2nd respondent also withdrew the sum of Rs.24,69,970.00 and has not repaid the said amount. The 1st respondent - Bank contended that since the amounts were withdrawn through the petitioner - Bank, the petitioner - Bank is also liable to compensate the 1st respondent - Bank. In these circumstances, the 1st respondent - Bank filed an application in O.A.No.412 of 2003 on the file of the Debts Recovery Tribunal, Bangalore claiming a sum of Rs.30,23,040.00.