GOEL EXPORTS Vs. NEW INDIA ASSURANCE COMPANY LIMITED

JUDGEMENT

(1.) THE decree holder moved an application dated 21.5.2004 for release of Bank Guarantee and recovery of balance decretal amount. In para 3 of the application, the applicant contended that after dismissal of the First Appeal No. 75 of 2002 filed against the order of the State Commission passed in Complaint Case No. 26 of 2001, the decree holder was entitled to the amounts as per calculation given below:

(2.) IT appears that under the orders of the Hon ble National Consumer Disputes Redressal Commission, New Delhi [for short hereinafter referred to as the National Commission] in first Appeal No. 75 of 2002, the New India Insurance Company Limited (for short hereinafter referred to as the Insurance Company/judgment debtor placed on record of the execution case, a fixed deposit receipt for a sum of Rs. 15,58,712/ -. As per the order of the Hon ble National Commission the decree holder would withdraw the amount deposited by the Insurance Company after furnishing a Bank Guarantee for a sum of Rs. 16,03,847/ - which would be the maturity value of the amount of Rs. 15,58,712/ -. In pursuance of the order of the Hon ble National Commission the Decree Holder furnished a Bank Guarantee and this Commission vide order dated 3.2.2003 ordered about the FDR in original to be handed over to Mr. Vikas Sagar, Advocate, learned Counsel for the decree holder and since the stay of the execution operated, the execution case remained pending.

(3.) IT was brought to the notice of the State Commission by the learned Counsel for the decree holder who moved an application dated 21.5.2004 that the First Appeal No. 75 of 2002 filed against order dated 29.1.2002 passed in Complaint Case No. 26 of 2001 by this State Commission was dismissed along with another First Appeal No. 76 of 2002, which also arose from judgment and order dated 29.1.2002 passed in Complaint Case No. 25 of 2001 by this State Commission. The Hon ble National Commission dismissed both the appeals vide order dated 6.5.2004 and confirmed the judgment and order passed by the State Commission in the two complaint cases.