M.D., MAHARASHTRA STATE FINAN.CORP.&ORS. vs SANJAY SHANKARSA MAMARDE

The Supreme Court upheld the National Consumer Disputes Redressal Commission's order under Section 23 of the Consumer Protection Act, 1986, which directed the Maharashtra State Financial Corporation to pay Rs.4,84,457/- as compensation to the complainant for failing to disburse the sanctioned loan for a hotel project. The Court emphasized that the Corporation's obligations under the loan agreement were clear and binding, and its failure to comply constituted a deficiency in service. The appeal was dismissed, affirming the Commission's decision and the compensation awarded.