DAV PUBLIC SCHOOL vs THE SENIOR MANAGER INDIAN BANK MIDNAPUR BRANCH

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission, affirming that the Indian Bank's liability was limited to Rs 1,00,000 despite the complainant's total loss of Rs 30,00,000 due to unauthorized transactions linked to the Principal's personal CIF. The Court established that the bank's failure to provide adequate security measures constituted a deficiency of service under the Consumer Protection Act, 1986, specifically Section 2(1)(g). The appeal was dismissed, maintaining the lower court's ruling on the bank's limited liability.