BASAVARAJ Vs. ICICI HOME FINANCE CO. LTD.

JUDGEMENT

(1.) THIS Appeal is by the appellant/complainant challenging the order dated 12.7.2005 passed by the District Forum, Bagalkot, in Complaint No. 115/2004 dismissing his complaint.

(2.) THE complainant made an application to the respondent/opposite parties (for short, "OP Bank") for sanction of loan of Rs. 3,75,000 for construction of house. On that application, the OP Bank sanctioned the loan on 5.7.2004. According to the complainant, the amount of loan sanctioned was to be released after the completion of the construction of the building up to plinth level. The further case of the complainant is that he completed the construction up to the plinth level and thereafter he requested the OP Bank to release the loan amount. But the OP Bank did not release the money without assigning any reasons. According to the complainant, due to non -release of the amount, he has suffered monetary loss and also mental agony and hardship.

(3.) THE OP Bank in its version before the District Forum contended that the complainant along with the application for sanction of loan had issued a cheque for Rs. 1,875 dated 21.6.2004. The said cheque was dishonoured on presentation and, therefore, the loan, though sanctioned, was not released to the complainant.