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1994 DIGILAW 577 (BOM)

Khamgaon Urban Co-op. Bank Ltd. . v. Kiran Ghanshamdas Khetan

1994-10-01

G.R.BEDGE, N.W.SAMBRE

body1994
JUDGMENT - W.M. SAMBRE, President---Heard Shri D.Y. Bhise, Advocate for the appellant Bank and Mr. S.K. Dangra for the respondent. The grievance of Mr. Bhise is that the State Bank of India has received the Draft on 27-4-1992 but they returned it to the bank on 5-5-1992. According to the respondent complainant, the date for purchase of share has already expired and therefore, respondent complainant could not purchase the shares and was put to loss. Therefore, he claimed the value of the share from the appellant bank, which was granted by the learned Forum, against which this appeal came to be filed Mr. Bhise contented that this liability was required a d unnecessarily burdened the appellant Bank for the aforesaid liability. 2. Mr. Dangra contended that he was not concerned with the Set bank as he purchase the draft from the appellant Bank, which was having locuna as per their own bye laws as the said draft was required to be signed by 2 persons while, the draft was signed by a single person. Therefore, the State Bank has referred back the said draft to the appellant Bank. Therefore, this dispute, as regards quantum of damages to be paid by State Bank of India can only be agitated by the Bank with the State Bank and this respondent is not in any way concerned with the claim of the appellant. 3. In view of the above discussion, it appears that the grievance made by Mr. Dangra appears to be perfectly right as the appellant is having a grievance against the State Bank of India and therefore, it will be for the appellant. Bank to recover the damages if found due for any lapses on the part of the State Bank is proved by the appellant Bank. This Commission cannot look into the matter as the State Bank is not before us and this dispute can be solved by the appellant and State Bank of India amongst themselves. Therefore, this appeal stands dismissed. The appellant is directed to pay cost of Rs. 500/- to the respondent within 2 weeks from the date of this order. ******