CLASSIC ELECTRONICS Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This complaint is a long narration of allegations of improper maintenance of the Complainant's accounts by the Respondent Bank which is said to have resulted in the denial of the contractual credit to the Complainant. In the result, according to the Complainant, he was virtually crippled in setting up the industry for manufacturing of T.V. Sets for which credit had been sanctioned by the U.P. Financial Corporation, Respondent No. 2 and by the Punjab National Bank, Respondent No. 1.

(2.) In the narration of facts in the complaint petition, the dates of most of the transactions are not mentioned, the nature of the accounts opened with the Respondent Bank not clearly specified and the statement of the case is further confused by citation of collateral and even irrelevant facts which makes the petition not easily comprehensible.

(3.) Only after plodding through the rejoinder of the respondent and the further counter of the Petitioner we have been able to comprehend the relevant facts. They are briefly given below: The Complainant opened two accounts with the Respondent Bank: