SHIVA STAINLESS STEEL PVT LTD Vs. CANARA BANK

JUDGEMENT

(1.) This consumer complaint has been filed by M/s Shiva Stainless Steel Pvt. Ltd., the complainant against Canara Bank, the opposite party.

(2.) Heard the learned counsel for the complainant at the admission stage. Learned counsel for the complainant states that there was a requirement of establishing a Pollution Control unit for the industry of the complainant and for this purpose, the complainant approached the opposite party Bank. However, the Bank advised them to put up the unit from their own funds and they will raise the credit limit later on. Learned counsel stated that after spending more than Rs.5 crore, the complainant established the Pollution Control Unit in the industry and later on approached the opposite party for enhancing the credit limit. It is the grievance of the complainant that the opposite party neither enhanced the credit limit nor gave any proper reply. In this process, the finances of the complainant have exhausted and their business is affected due to shortage of funds. In this background, the learned counsel requested that the complaint may be admitted and the OP Bank may be directed to enhance the credit limit of the complainant or issue the NOC for obtaining the credit facility from any other Bank.

(3.) I have carefully considered the arguments advanced by the learned counsel for the complainant and examined the material on record. The complainant has made the following prayers in the complaint: