LAWS(NCD)-1995-1-97

UCO BANK Vs. R.G. SRIVASTAVA

Decided On January 06, 1995
UCO BANK Appellant
V/S
R.G. Srivastava Respondents

JUDGEMENT

(1.) First Appeal No. 1894 by the Opposite Party-UCO Bank and the Cross Appeal F.A. No. 182/94 by the complainant are directed against the Order dated 2-2-1994 passed by the State Commission, Delhi directing the UCO Bank to pay Rs. 2,16,500.00 with interest @ 15% per annum from 18th April, 1992 till the date of payment.

(2.) The admitted facts in these Appeals are that the respondent herein Shri R.G. Srivastava had hired a locker No. 729 in his name and that of his wife Smt. Raj Rani Srivastava, on the 16th July, 1983 in the Defence Colony Branch of the UCO Bank-appellant herein for keeping his valuables. On the 20th April, 1992 at 11.30 A.M. an official of the Bank informed Shri Srivastava that his locker was found open on Saturday the 18th April, 1992 and was also lying empty. Shri Srivastava thereafter went to the Bank and saw the locker which was empty and then lodged an FIR with the Police.

(3.) Shri Srivastava alleged that the loss of valuables kept by him, valued at Rs. 3,50,000.00 was due to the negligence of the officials of the Bank and therefore, through a complaint petition before the State Commission of Delhi, prayed for a direction to the UCO Bank to make payment of Rs. 3.50 Lakhs with interest at the rate of 15% per annum from 12-2-1992. The date 12-2-1992 is significant as it was on this date that the locker was last operated by Shri Srivastava and the Bank.