ACHATRAM TOLANI Vs. ICICI BANK

JUDGEMENT

(1.) This has its genesis in the previous Orders dtd. 2/6/2022, dtd. 13/6/2022 and dtd. 28/6/2022.

(2.) The learned counsel for the respondent bank (ICICI Bank) submits on instructions that it wishes to settle the matter by unconditionally paying Rs.1.25 lakh to the petitioner (complainant) within a period of 10 days from today. Mr. Mukesh Vijay, Chief Manager Legal ICICI Bank Jaipur present in person confirms. The learned amicus curiae for the petitioner (complainant) submits that though the record of the case betrays out elements of deficient and unfair & deceptive conduct on the part of the respondent bank which resulted in loss & injury to the petitioner and even though the respondent bank has prolonged the harassment which he faced as its consequence, but in the wake of the offer of settlement that has been proposed on behalf of the respondent bank and in order to put a period on the continuing litigation the petitioner is agreeable to the terms of the proffered compromise. The learned amicus curiae further submits on instructions that in the circumstances of the case if the offered amount is made good within a short period of time it will meet the ends of justice and the call of equity will stand satisfied.

(3.) In the wake of above submissions, the revision petition stands disposed of with the direction that the respondent bank (ICICI Bank) shall pay an amount of Rs.1.25 lakh to the petitioner (complainant) by way of 'payee's a/c only' demand draft within a period of 10 days from today with advice to the respondent bank to study this case and inculcate and imbibe systemic improvements for future so that recurrence of such kind of mismanagement episodes which may go to bespeak of deficient and unfair & deceptive conduct may be averted and the consumers may not be put to such kind of loss & injury and harassment.