Raythara Sahakari Bank Ltd vs Chandrakala R. Das

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission, affirming the State Commission's ruling that the appellant-Bank must compensate the complainant for the pledged gold ornaments at the rate of Rs.573/- per gram, despite the Bank's resolution to pay Rs.410/- per gram. The Court emphasized that the Bank's liability to pay was not negated by the pending insurance claim for the theft. The ruling clarified that consumer rights must be upheld regardless of internal resolutions made by the Bank regarding compensation.