SENIOR MANAGER CANARA BANK Vs. DEEPAK KUMAR MOHANTY

JUDGEMENT

(1.) This is an appeal by the Canara Bank of Bhubaneswar Branch against the judgment directing them to pay compensation of Rs.5,000/- and costs of Rs.250/- to the complainant.

(2.) Complainant's case is a cheque for an amount of Rs.14,000/- drawn by the mother of the complainant for payment on his behalf of the State Bank of India, Old Town Branch, Bhubaneswar was presented to the Canara Bank alongwith application forms etc. by the complainant to participate in a 16 per cent secured redeemable partly convertible debenture scheme floated by the Mangalore Refinery and Petrochemicals Ltd. This was presented on 22.5.1992 to the Canara Bank who were authorised for receiving and sending the application forms with the amount as per the terms and conditions which was to reach the Company before 31st May, 1992. The complainant alleges because of the deficiency in service in not sending the application as well as the amount in question in time he suffered loss because of not being able to participate in the Scheme. He claimed compensation of Rs.84,346/-.

(3.) The appellant denied of any negligence on the part. The State Bank functionaries were O. P. Nos.2 to 6. O. P. No.4, Manager, In-charge Service Branch of the State Bank of India, Bhubaneswar took the plea because the cheque bore two rubber stamps one showing the main branch and another showing the old branch, therefore, the cheque was sent for clearance to the Main Branch for which the State Bank authorities did not commit any mistake but the same was because of the negligence of the Canara Bank.