Order

The present Miscellaneous Application has been preferred on behalf of the Decree Holder as applicant to release the decretal amount to the tune of Rs. 22,24,739/- deposited by The Oriental Insurance Co. Ltd. to the decree holder.

The notice has been issued to the Judgment Debtor Nos. 1 & 2 and the service of notice was considered to be sufficient on dated 25.07.2024, but none has appeared on behalf of the judgment debtor No. 1 – insurance company, whereas learned counsel Sh. R.S. Bajwa for judgment debtor    No. 2 alongwith Sh. Ashish Kumar, Manager of Recovery Centre, PNB Haridwar has appeared and submitted that the total outstanding dues towards the decree holder in four accounts is to the tune of                                Rs. 68,57,227.60ps., so the entire amount deposited by the Insurance Company be paid to judgment debtor No. 2 – Bank. 

Learned counsel for decree holder has refuted such contention and stated that the judgment debtor No. 2 - Bank is only entitled to take the amount under Cash-Credit Limit (CCL) from the decree holder, as held in the judgment and order dated 01.05.2023 passed by this Commission.

We have perused the aforesaid judgment and order wherein it is ordered to the decree holder (complainant) firstly to make the payment in Cash Credit Limited maintained by the judgment debtor No. 2 – Bank.

Today Sh. Ashish Kumar, Manager of judgment debtor No. 2 has submitted that the outstanding amount in Cash-Credit Limit Account is to the tune of Rs. 17,16,561.82ps. including the amount of its NPA account No. 4882008700000313.  Because in the judgment and order dated 01.05.2023 this Commission has held the complainant to pay the outstanding dues in Cash-Credit Limit, which as per the statement filed on behalf of the Manager is to the tune of Rs. 17,16,561.82ps., therefore, the said amount, i.e. Rs. 17,16,561.82ps. be released in favour of the judgment debtor No. 2 – Bank and rest of the amount Rs. 5,08,178/- be released in favour of the decree holder – complainant.

Accordingly, the Miscellaneous Application is hereby partly allowed and disposed of.

A copy of this Order be provided to all the parties free of cost as mandated by the Consumer Protection Act, 1986 /2019.  The Order be uploaded forthwith on the website of the Commission for the perusal of the parties.

File be consigned to record room along with a copy of this Order.