S.X.J. Vasan vs Indian Overseas Bank, The Managing ... on 13 January, 2022
According to the learned counsel, the said decision makes it
clear that even a trader can recover substantial damages for
injury to his credit without proof of actual damage; while so,
in the case on hand, the injury to the credit of the
complainant was due to the negligence in the service of the
Bank. Further, the complainant, who suffered injury to his
credit, has a good case here to connect the injury with the
act of malfeasance/misfeasance/negligence on the part of
the Bank. Therefore, since the complainant has suffered
resultant huge loss in the share trade to the tune of
Rs.48.77 Lakh and consequently, had also lost his
reputation with the Broker, who thereafter suspended the
trading account of the complainant, resulting in great
mental agony, the prayer of the complainant is well-founded
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and deserves acceptance. Accordingly, the relief sought for
may be granted.