National Consumer Disputes Redressal
Omega Ag - Seeds Punjab Ltd., Chandigarh ... vs Indian Overseas Bank, Paic Extension ... on 18 February, 2002
ORDER
D.P. Wadhwa, J. (President)
1. In this complaint for alleged deficiency of service by the Indian Overseas Bank, complainant, limited company seeks the following reliefs:
"40. In view of the foregoings, the complainant most respectfully prays as under:
a. That this Hon'ble Commission may Hold and Declare that the opposite parties have clearly shown gross negligence and deficiency in service rendered.
b. Direct the OPPI, Bank to hand over forthwith the Original FDR No. 691/2001 for Rs. 1,10,59,346 to the Chairperson of the Company with a declaration that it is totally unencumbered and belonging and standing in the name of the company exclusively.
c. That to direct the bank to pay Rs. 1,21,37,770.85 to complainant for the claim as shown in the statement of claim at Exhibit BB.
d. That the further interest on above as may be awarded by this commission till date of actual payment by this Hon'ble Commission.
e. The mental agony and liquidated damages of Rs. 5.4 Crores.
f. Exemplary Cost may be awarded to the Complainant.
g. Any other order this Hon'ble Commission may deem fit and proper in the circumstances of the facts of the complaint and in the interest of justice".
2. If we now refer to the exhibit 'BB' the particulars of this claim of Rs. 1,21,37,770.85 would be as under:
"STATEMENT OF CLAIM AGAINST OPP-I, IOB-CHANDIGARH FOR C/A NO. 35 WITH IOB, EXTN. COUNTER BRANCH, PAIC, THRU, IOB, SECT-7C BRANCH, CHANDIGARH IND. Rs.
(A) Account open by depositing Cash on 23.4.94 500=00 A Erroneous/illegal debit entry by a loss 10,74,233=85 cheque transferred to PAIC on 13/5/94, out of Public issue collection A/c in violation of Prospectus Dt. 11-4-94 SEBI Guidelines favouring, PR-II, PAIC 69,26,266=15 80,00,500=00
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Interest on Rs. 10.74 (PAIC Entry) 10,74,233=85 @ 18% for 78 months. 13,26,000=00 24,00,233.85
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(B) Rs. 1000/- Transferred from 69,26,266=15 The Company's A/c No. 1109 with + 1,000=00 Jammu & Kashmir Bank on 1/12/94 69,27,266=15
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Interest @ 24% on Rs. 80 lakhs 20,00,000=00 from 13-5-94 to 11-8-95 for 15 months till Court order From 12-8-95 to 11-2-02 for 78 months 23,40,000=00 @ 18% on Rs. 20.00 lakhs 43.40,000=00 B
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Loss of interest (Difference between 18% less interest accrued in the FDR) 48,20,000=00 C
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(D) Legal Expenses and other out of pocket expenses incurred by the complainant for fighting the prolong the legal civil war.
Legal Fees to Advocates for last 8 years 5,40,000=00 Hotel Bills for stay at Wood-land Hotel, 12,000=00 Paharganj, of 12 days in Delhi for Preparing & filing this petition Air Ticket-Mumbai-Delhi-Mumbai IA 5209x2 10,418=00 Hotel Inter Continental Bill for Lawyers 6,357=00 Lounge, R. No. 2033 Typing/Xerox/Fax/STD etc. Photo composers 8,762=00 5,77,537=00 D.
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GRAND TOTAL IRS. 1,21,37,770=85
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(Claim of Rupees One Crore, Twenty One Lakhs, Thirty Seven Thousand Seven Hundred Seventy And Paise Eighty Five Only.)
3. Apart from the Indian Overseas Bank there are opposite parties as proforma respondents, three of them being the Banks and two the promoters of the complainant. Though in the complaint the first relief claimed would appear to be simple but the complaint raises complex questions of fats and law. There are documents running over 100 pages. It is not possible for this Commission in its summary jurisdiction to decide this matter which requires a great deal of evidence both oral and documentary.
4. Earlier Mrs. Leena N. Parekh who has signed the present complaint as a Chairperson of the complainant Co., filed a complaint in her personal capacity which is pending before this Commission. It being Original Petition No. 384/2001. We sent for the file of that case and we find that that has no correlation with the reliefs claimed in the present complaint. Accordingly we will dismiss this complaint. This will not, however, come in the way of the complainant to seek its remedy elsewhere.