UNIT TRUST OF INDIA vs RAVINDER KUMAR SHUKLA

The Supreme Court addressed the liability of a statutory corporation under the UTI Act, 1963 regarding non-receipt of cheques by unit holders. The Court held that the Appellant was negligent as the post office acted as its agent, thus the loss incurred due to intercepted cheques must be borne by the Appellant, not the unit holders. The decision of the National Consumer Disputes Redressal Commission was upheld, affirming the obligation of the Appellant to compensate the unit holders for the amounts due.