K K JAGIA Vs. UNIT TRUST OF INDIA

JUDGEMENT

(1.) The short question, which arises for our consideration in this appeal filed by the complainant against the impugned judgment and order dated 25.8.2004 passed by District Consumer Disputes Redressal Forum-II, U. T. , Chandigarh (for short hereinafter to be referred as District Forum) in Complaint Case No.372 of 2002 is whether the maturity value of the units of the respondents - Unit Trust of India (for short hereinafter to be referred as U. T. I.) purchased by the appellant, maternal grandfather of Ms. Shivani Nanda who is settled in New York, U. S. A. , sent by the respondents by means of account payee cheque delivered to the addressee, admittedly is a sufficient compliance of the liability of the respondents to pay the value of the units held by Ms. Shivani Nanda.

(2.) The admitted facts may not be detailed except that the holder of the cheque Ms. Shivani Nanda after receiving the cheque at her address deposited the cheque with her banker for encashment. Something happened between the banker of the holder of the cheque and the concerned bank - SBI Overseas Branch, Calcutta.

(3.) Mr. K. K. Jagia, authorised agent and an attorney of Ms. Shivani Nanda who had filed the complaint case for and on behalf of Ms. Shivani Nanda who has also filed this appeal contended that the mere sending of cheque, may be an account payee in the name of the holder of the cheque by the respondents - U. T. I. , will not amount to payment of the said value of the units and it is the legal duty of the U. T. I. to ensure the actual payment of the amount to the holder of the cheque. He also contended that the common law principle 'debtor seeks the creditor' will apply in the case of the U. T. I.