O P KINGAR Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) This appeal by the complainant is directed against the order dated 1.6.1992 passed by the District Forum, Bangalore, in complaint No.869/91, dismissing the complaint. The facts, briefly stated, are as follows:

(2.) The appellant-complainant is the account holder in Union Bank of India, Domlur Branch, Bangalore. The complainant required money for making payment of 3rd instalment of the sale price in connection with a site allotted to him at NOIDA, New Delhi. So the complainant approached the opposite party-bank for raising loan on the security of Vikas Patras, The opposite party due to the financial restraints, initially declined to advance loan. The complainant raised loan elsewhere with much difficulty on producing Vikas Patras and made payment of 3rd instalment at NOIDA, New Delhi.

(3.) The complainant further averred that he petitioned to customer service centre about the refusal by the bank to advance loan required by him. Some time thereafter, the opposite party-bank sanctioned loan of Rs.50,500/-. The opposite party bank insisted on the complainant to hand over the Vikas Patras to them before he could get the loan amount. The complainant could not hand-over the Vikas Patra bonds to the opposite party-bank, as he had already deposited them elsewhere to raise loan, in consequence of which, the opposite party-bank cancelled the loan sanctioned in his favour. The complainant, therefore, sought for a direction to the opposite party to disburse the loan and grant compensation of Rs.75,000/- for the mental agony that he had undergone.