D RAMADEVI Vs. SYNDICATE BANK

JUDGEMENT

(1.) IN this complaint the complainant has sought compensation in a sum of Rs. 3,00,000/ - from the Opposite Party -Syndicate Bank for causing delay in sending her application and a cheque for allotmentof public issues of M/s. Gujarat Industries Power Company Ltd., Baroda.

(2.) THE complainant averred that on 14.7.92 she made an application for allotment of public issues of Messrs Gujarat Industries Power Company Ltd., Baroda and along with it sent a cheque for a sum of Rs. 6,000/ - to the State Bank of India. When the State Bank of India presented the said cheque for clearance the Opposite Party -Bank did not honour the cheque stating that no sufficient funds were available in the complainant's account. The complainant averred that as a matter of fact, a sum of Rs. 22,000/ - was the amount lying in deposit in her account with the Opposite Party -Bank on that day.

(3.) THE Opposite Party -Bank filed its version and admitted the fact that due to oversight the cheque of the complainant was not cleared though there were sufficient funds in the account of the complainant on that day. But the Opposite Party -Bank further averred that on finding this mistake immediately a Demand Draft for the said sum of Rs. 6,000/ - was sent to the State Bank of India which was accepted by the State Bank of India and her application was considered for allotment of shares, as sought for by her. The complainant has made the complaint when shares were not allotted to her on her application. So the Opposite Party -Bank nextly averred that no loss did occur to the complainant as the Opposite Party well in time did send the amount of the cheque by way of D.D. to the State Bank of India, the collecting agent of Messrs. Gujarat Industries Power Company Ltd., Baroda. The Opposite Party -Bank on the basis of these averments sought the complaint to be dismissed.