BANK OF MAHARASHTRA Vs. MANOHAR SITARAM NANDANWA

JUDGEMENT

(1.) THE District Forum, Yavatmal, Maharashtra in case No 10/91 by its order of 26th August, 1992 had directed the grant of certain reliefs to the respondent-complainant which are briefly set out below:

(2.) THE revision petitioner has assailed the orders of the District Forum and the State Commission on the ground that there has been no deficiency on its part and that the orders of the lower Forums deserve to be set aside. It has attacked the orders of the lower Forums on the following grounds:

(3.) AS per Clause 1 of the Hypothecation and Agreement of 9th December, 1987 the cash credit upto the limit of Rs. 30,000/- was granted according to the needs of the borrowers and as the bank deemed fit Further that under Clause 6 of the said Agreement in the event of failure of the borrower to comply with the Bank's demand for repayment of the amount due under the cash credit account, the Bank was entitled to immediately adjust the amounts that may be standing to Ike credit of the party in the said deposit accounts, even though the deposits might not have matured for repayment.