NCDRC

NCDRC

RP/3579/2009

USMAN K. - Complainant(s)

Versus

CORPORATION BANK - Opp.Party(s)

MR. NAIK H. KANNA

08 Apr 2010

ORDER

Date of Filing: 02 Jun 2009

NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSIONNEW DELHIREVISION PETITION NO. No. RP/3579/2009
(Against the Order dated 12/02/2009 in Appeal No. 2145/2008 of the State Commission Karnataka)
1. USMAN K. ...........Appellant(s)

Vs.
1. CORPORATION BANK ...........Respondent(s)

BEFORE:
HON'BLE MR. JUSTICE K.S. GUPTA ,PRESIDING MEMBERHON'BLE MR. JUSTICE R.K. BATTA ,MEMBER
For the Appellant :NEMO
For the Respondent :NEMO

Dated : 08 Apr 2010
ORDER

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On petitioner/complainant’s approaching the respondent/ opposite party- Bank, the Bank sanctioned a sum of Rs. 7,50,000/- as term loan and Rs. 2,00,000/- as cash credit limit to the petitioner. Loan was sanctioned against the machineries to be purchased by using the loan amount as a security. Amount of Rs. 1,20,000/- was released by the Bank for purchase of one machine from M/s. Prasad Industries. Since the remaining machineries were not purchased within three months as per the condition of sanction of loan, the Bank declined to release the further amount. In this backdrop, State Commission while setting aside the order of District Forum found the Bank not to be deficient in service. Having heard Shri Naik and the conditions of loan, we do not find any illegality or jurisdictional error in the order of State Commission warranting interference in revisional jurisdiction under Section 21 (b) of the Consumer Protection Act, 1986. Revision is, therefore, dismissed.



......................JK.S. GUPTAPRESIDING MEMBER
......................JR.K. BATTAMEMBER