COMPLAINT FILED: 28.01.2009<br /> <br /> BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE (URBAN)<br /> <br /> 21st MARCH 2009<br /> <br /> PRESENT :- SRI. A.M. BENNUR PRESIDENT<br /> SMT. M. YASHODHAMMA MEMBER <br /> SRI. A. MUNIYAPPA MEMBER <br /> <br /> COMPLAINT NO. 240/2009<br /> <br /> <br /> COMPLAINANT M/s. Sastha Warehousing Ltd.,<br /> No. 595, Dr. Rajkumar Road,<br /> Prakashnagar,<br /> Bangalore – 560 021.<br /> Represented by it’s Director<br /> Sri. Adikeshavalu Reddy,<br /> S/o. Late N. Dasaradharama Reddy,<br /> Aged about 54 years.<br /> <br /> Advocate (K.S. Venkataramana)<br /> <br /> <br /> V/s.<br /> <br /> <br /> OPPOSITE PARTIES 1. ICICI Bank Limited,<br /> ICICI Bank Towers,<br /> Bandra-Kurla Complex,<br /> Mumbai – 400 051.<br /> India.<br /> <br /> <br /> 2. ICICI Bank Limited,<br /> ICICI Bank Towers,<br /> No. 1, Commissiariat Road,<br /> Bangalore – 560 025.<br /> <br /> <br /> O R D E R<br /> <br /> This is a complaint filed U/s. 12 of the Consumer Protection Act of 1986 by the complainant seeking direction to the Opposite Party (herein after called as O.P) to pay a compensation of Rs.45,000/- and for such other reliefs on an allegations of deficiency in service. <br /> <br /> The brief averments, as could be seen from the contents of the complaint, are as under:<br /> Complainant approached the OP Bank for credit agreement for the time of 7 years to the tune of Rs.26.3 millions and submitted an application. OP accepted the proposal and issued the credit agreement letter on 27.01.2005 for that reason OP directed the complainant to open an Escrow Account. Complainant deposited Rs.25,000/- on 15.02.2005 and account is opened, but thereafter somehow OP arbitrarily withdrawn the credit agreement letter dated 27.01.2005, without there being any cogent reasons. Due to the untimely withdrawal of the financial assistance complainant is put to greater hardship in his business. Then complainant asked OP to close the account and refund Rs.25,000/- paid as deposit, there was no response. Then he caused the legal notice on 21.10.2008. Again there was no response. For no fault of his, he is made to suffer both mental agony and financial loss. Thus he felt the deficiency in service on the part of the OP. Hence he is advised to file this complaint and sought for the relief accordingly.<br /> <br /> 2. On admission and registration of the complaint, when notices were sent to the OP, OP appeared. Inspite of taking sufficient and reasonable time, failed to file the version, cost was imposed it was not paid, it appears OP has no serious defence to make. Hence it is noted as version not filed, then complainant filed affidavit evidence in support of his complaint and produced some documents. OP did not participate in the proceedings. Then the arguments were heard.<br /> <br /> 3. It is the case of the complainant that in order to promote his business it sought for a financial assistance under the credit agreement for 7 years to the tune of Rs.26.3 millions. OP accepted the proposal and issued the credit agreement letter on 27.01.2005, it is produced. OP imposed the condition that complainant has to open Escrow Account in their Bank. Complainant opened the account by depositing Rs.25,000/- on 15.02.2005. The document to that effect is produced. It is further contended that OP without assigning any cogent reasons abruptly withdrawn the said facility, sanctioned vide letter 27.01.2005. The hostile attitude of the OP and arbitrary act has caused both mental agony and financial loss to the complainant.<br /> <br /> 4. The evidence of the complainant appears to be very much natural, cogent and consistent. There is nothing to discard his sworn testimony as it finds support from the contents of the undisputed documents. The non-filing of the version evenafter the due appearance and leading the evidence in support of defence if any leads us to draw an inference that OP admits the allegations made by the complainant. Complainant with a fond hope of financial assistance to promote his business deposited his hard earned money of Rs.25,000/- and opened the account at OP Bank. OP took the undue advantage of the said account opened by the complainant then without any cogent reason withdrawn the sanction accorded on 27.01.2005. This act of the OP amounts to deficiency in service.<br /> <br /> 5. The repeated requests and demands made by the complainant to refund the deposit made by him when the account is closed, went in futile. Even he caused the legal notice, again there was no response from the OP. Under the circumstances complainant must have naturally suffered both mental agony and financial loss due to the deficiency in service on the part of the OP. OP without extending the service retained the said deposit made by the complainant by opening the account, thus accrued the wrongful gain to itself and caused wrongful loss to the complainant, that too for no fault of his. Under such circumstances complainant deserves the relief to some extent as prayed. Accordingly we proceed to pass the following: <br /> <br /> O R D E R<br /> <br /> The complaint is allowed in part. OP is directed to refund the deposit of Rs.25,000/- made by the complainant at the time of opening of Escrow Account with interest at the rate of 12% p.a. from 15.02.2005 till realization and pay a litigation cost of Rs.500/-. This order is to be complied within 4 weeks from the date of its communication. <br /> <br /> (Dictated to the Stenographer and typed in the computer and transcribed by him, verified and corrected, and then pronounced in the Open Court by us on this the 21st day of March 2009.) <br /> <br /> <br /> <br /> <br /> <br /> MEMBER MEMBER PRESIDENT<br /> <br /> <br /> <br /> <br /> p.n.g. <br />