PUNJAB NATIONAL BANK Vs. JAI KISHAN SHARMA

JUDGEMENT

(1.) This Order shall decide both Revision Petitions Nos. RP 3901 of 2017 filed by the Punjab National Bank/OP and RP 822 of 2018 filed by Jai Kishan Sharma/Complainant under Sec. 21(b) of the Consumer Protection Act, 1986 (the 'Act') arising from the impugned Order dtd. 7/9/2017 passed by the learned State Consumer Disputes Redressal Commission, Punjab (hereinafter referred to as the 'State Commission') in First Appeal No. 767/2016, wherein the State Commission has partly allowed the Appeal of the Complainant/ Appellant and enhanced the amount of compensation from Rs.50,000.00 to Rs.3,00,000.00 and litigation expenses from Rs.5,000.00 to Rs.11,000.00.

(2.) For convenience, the parties are referred to as placed in the original Complaint before the District Forum. Jai Kishan Sharma is the Complainant and Punjab National Bank is referred to as the OP.

(3.) Brief facts, as per the Complainant, are that this complaint was filed by the Complainant through his attorney Sh. SK Sharma, his father, under the Consumer Protection Act, 1986 (in short 'the Act') against the Opposite Parties ("OPs") stating that he was studying in Melbourne, Australia and thus authorized his father to file this complaint through his general power of attorney. The Complainant was pursuing his higher studies in Master of Accounting and Financial Management and approached the OPs for grant an education loan of Rs.15.00 Lakhs for higher studies in Australia. The loan was sanctioned to the Complainant along with co-borrower SK Sharma, father and the individual guarantee of Smt. Karma Rekha, his grandmother. The loan was to be reimbursed in instalments, and the loan documents were executed by the Complainant in favor of the OPs on 19/12/2007.