Vimal Chandra Grover vs Bank Of India

The Supreme Court upheld the National Consumer Disputes Redressal Commission's decision, stating that the bank did not exhibit negligence in handling the pledged shares of the appellant under the Consumer Protection Act, 1986, specifically Section 2(1)(g). The Court emphasized that the bank's actions were in accordance with the guidelines set by the Reserve Bank of India and that there was no deficiency in service. The appeal was dismissed, affirming the bank's right to manage the timing and method of share disposal as per the Contract Act, 1972, Sections 172 to 177.