SATYAM FIBRES INDIA (P) LTD Vs. INDIAN BANK

JUDGEMENT

(1.) We had passed an order in this Original Petition on the 16th November, 1993 holding that there was deficiency in service on the part of the Original Petitioner - Indian Bank - towards his client, the Complainant. As such it was ordered that the Bank should pay to the Complainant 4,10,000/French Francs being the principal amount of the Bills of Exchange and interest at 18% on rupee equivalent of the principal amount payable in French Francs at the rate of exchange obtaining on 31st December, 1989. In addition, a sum of Rs. 10,000/- was allowed as costs to the complainant.

(2.) The Original Petitioner-Bank - by its petition dated 17 December, 1993 had brought for a recommendation of the above order of 16th November, 1993 on the ground that the Complainant had practised fraud on the Opposite Party. While this Commission has no power of review of its orders, in view of the allegation of fraud, the Commission decided to rehear the case.

(3.) The facts of the case are already given in the order of 16th November, 1993. We therefore, are concerned only with the facts relating to the allegations of fraud.