SAMPURNA SINGH DEO Vs. DENA BANK

JUDGEMENT

(1.) THIS complaint is filed by the complainant on 10.11.1999 under Section 21(a) of the Consumer Protection Act, 1986. In this complaint he claimed a sum of Rs. 79,20,000/ - as compensation from the opposite party -Dena Bank (Bank for short). The prayer is couched in the following words : 'It is, therefore, humbly requested that the defendants Dena Bank who have acted as selling agents of M/s. WIMCO Limited and also for their malicious act be directed to pay the complainants Rs. 79,20,000/ - (Rs. Seventy nine lac and twenty thousand) at the earliest with cost with suitable interest thereon.'

(2.) ACCORDING to the complainant cause of action to file this complaint arose on 4.9.1999 when Additional Civil Judge, Senior Division at Khanna, Distt. Ludhiana in the State of Punjab decreed the suit of the Bank against him disregarding his defence altogether. Bank had filed a suit against the complainant on 29.2.1996 claiming Rs. 9,20,748/ - and interest for the loan granted to him. Direction was also sought in the civil suit filed by the Bank for sale of the agricultural land which complainant had given as security to the Bank for availing the loan.

(3.) COMPLAINANT says that he has filed this complaint as advised by Security and Exchange Board of India in their some press release. How the claim of Rs. 79,20,000/ - has been made, complainant has given the following details in para 8 of the complaint : 'That due to malicious act, negligence and deficiency in service by the defendant Bank the complainant has suffered financial loss as under : (1) Number of Poplar trees planted = 4400 (2) Minimum expected survival trees = 3300 (3) Expected volume of timber after 8 years = 0.4 x 3300 = 1320 cum (4) Conversion of entire timber into craft sticks : (a) one PKT of 1000 craft sticks wastage = = 1 kg 0.25 kg. (b) 1 CUM Timber = 1500 kgs (c) 1320 CUM Timber Wastage = = 1980000 kgs. 495000 kgs. Craft sticks = 1485000 pkts. Sale price = 1485000 x 10 = Rs. 14850000 Sale of wage Rs. 100/ - per qtl. = Rs. 495000/ - Entire expenditure 50% of sale price = Rs. 7425000/ - Net profit = Rs. 7425000 +495000 Net loss = Rs. 79,20,000/ -'