AKASH CHAUDHARY Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) THIS is an appeal filed by the complainant against order dated 26.7.2010 passed by District Consumer Disputes Redressal Forum -I, UT, Chandigarh (for short hereinafter to be referred as District Forum) passed in complaint case No. 1611 of 2009.

(2.) BRIEFLY stated, the facts of the case are, that the complainant invested Rs. 1,00,000 in mutual funds and for this purpose, he gave the cash amount of Rs. 1,00,000 to the OP No. 3 (agent of OPs No. 1 and 2). It was submitted that the OPs converted into two cheques bearing No. 130847 for Rs. 65,000 and No. 130848 for Rs.35,000 both drawn on ICICI Bank Ltd. and also signed a blank application forms on the assurance and guidance/instructions of OP No.3.

(3.) REPLY was filed by OP No. 1 and submitted that the OP No. 1 had only acted as a banker for the transfer of the funds, through issuance of DD as per the instructions of the complainant and the OP No. 1 had no other role to play in the same. It was pleaded that the OP No. 3 was not their agent and the pay orders were issued as per the instructions received by the bank. All other allegations levelled by the complainant in the complaint were denied and pleaded that there was no deficiency in service or unfair trade practice and prayed for dismissal of the complaint.