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november 2006

Supreme Court of India · 2006-11-08

RAYTHARA SAHAKARI BANK LTD. vs CHANDRAKALA R. DAS

Citation / case number
SC 2004/26017
Court
Supreme Court of India
Petitioner
RAYTHARA SAHAKARI BANK LTD.
Respondent
CHANDRAKALA R. DAS
Author
ARIJIT PASAYAT
Bench
S.H. KAPADIA ARIJIT PASAYAT

Judgment text excerpt

The Supreme Court held that the National Consumer Disputes Redressal Commission's dismissal of the appellant-Bank's revision petition was justified, as the State Consumer Dispute Redressal Commission's order was clear and did not warrant interference. The Court emphasized that the appellant-Bank's liability to pay the complainant was based on the prevailing market rate of gold at the time of theft, and the resolution made on 17.1.2004 was not binding on the complainant. The Court upheld the lower forums' decisions regarding the valuation of the gold ornaments pledged by the complainant and the absence of any default in service by the Bank.

RAYTHARA SAHAKARI BANK LTD. vs CHANDRAKALA R. DAS · Niyam