KIRAN STEEL SALES Vs. RATNAKAR BANK LTD

JUDGEMENT

(1.) In this complaint, the complainant has sought compensation towards his loss of reputation due to dis-honour of the cheques issued by him made by the opposite party-Bank as under: (a) the respondents be directed to pay Rs.2,10,000/- as detailed in para 6 above towards damages;. (b) future interest at 18% p. a. on the amount so awarded by way of damages; (c) costs of this proceedings; and (d) such other reliefs as this Hon'ble Commission deems fit be awarded. "

(2.) The complainant a business firm is one of the constituents of the opposite party, M/s. Rathnakar Bank Ltd. , Hubli Branch.

(3.) It is the case of the complainant that the opposite party-Bank sanctioned a cash credit facility of Rs.8 lakhs to the complainant on 5.-31991. The complainant had availed this facility to the extent of Rs.4 lakhs by 10-3-1991.