STATE BANK OF INDIA Vs. ASHA DIXIT

JUDGEMENT

(1.) THE State Bank of India has filed this Revision Petition challenging the order of the M.P.State Consumer Disputes Redressal Commission passed in Appeal No.299 of 2007. In the impugned order, the State Commission has set aside the order of the District Forum, Gwalior and granted relief to the Complainant.

(2.) THE husband of the Complainant had purchased a house for ` 6.5 lacs in which ` 2.5 lacs was paid directly by him and the balance ` 4 lacs was financed as a loan by the Revision Petitioner. However, the loan amount actually sanctioned was ` 4.25 lacs and not ` 4 lacs. From the sanctioned loan, the Revision Petitioner disbursed a sum of ` 4 lacs directly to the Builder on 29.07.2004, towards the price of the house. Nearly, year and a half later, the borrower passed away on 10.02.2006.

(3.) THE State Commission reversed the above order of the District Forum in the impugned order and directed the Revision Petitioner/OP-1 not to recover any amount towards loan, as the same has been satisfied under the insurance created concurrently with the loan for the house.