M.K.THIRUVENGADAM Vs. GENERAL MANAGER, ICICI BANK

JUDGEMENT

(1.) The complaint filed under Section 17 of the Consumer Protection Act- 1986 :- Complainant claiming direction to pay Rs.1 crore as compensation on account of negligence regarding the banking transaction made by the complainant with the opposite parties.

(2.) The Gist of the complaint in brief are as follows :- Complainant is a practicing advocate having savings bank account with the 2nd opposite party in account No.602701525399 for which the 1st opposite party is the head office. Complainant issued cheque for Rs.25,000/- dated 16.12.06 in favour of M/s.Anusuya Patel and on that date he was having sufficient balance in his savings bank account. On 20.12.06 the above cheque was presented by the party through the Indian Overseas Bank, MMDA Nagar Branch, Chennai on 21.12.06 and even though sufficient fund was available with the complainant?s account on that date 2nd opposite party returned the cheque unpaid for the reason of insufficient funds and informed the complainant by SMS at 1.12. pm on that date. The complainant was shocked and surprised and approached the opposite parties they simply said "sorry". A sum of Rs.224/- was also deducted towards penalty charge for the return of cheque. Because of the act of the opposite parties the credit worthiness of the complainant has been damaged considerably and lost some of his clients and financial companies declined to grant any loan to the complainant. Hence the complainant estimating damages for deficiency of service, loss of reputation, mental agony cheque return charges and notice charges under for various amount and totaling for Rs.1,30,05,224/- restricting the claim for Rs.1,00,000/- and after issuing legal notice he has come forward with this consumer complaint.

(3.) The opposite parties denied the allegations of the complainant and in the written version it is contended that the cheque was received for payment on 21.12.06 and as per the earlier balance available as on 20.12.06 is only for Rs.25,000/- as the sufficient fund was not available for clearing of cheque and the cheque was returned for want of funds and only at 2.52 pm complainant deposited further sum of Rs.5,400/- as per the statement of accounts from 26.12.06 to 21.12.06. Hence as per the clearing rules of RBI and availability of funds in the account of the previous days closing balance would be taken in to account and there is no deficiency of service on their part.