MORZARIA CHARITY TRUST Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The complainant is a Registered Private Trust. The Trust represented by its Managing Trustee, opened a Savings Bank Account with the Respondent, bearing No.246 on 28.3.1985. By a resolution of the Board of Trustees dated 8.3.1985, the Managing Trustee was authorised to open and operate the account. On 10.6.1991, the Managing Trustee wrote to the Respondent to close the said account and to refund the amounts standing to the credit of the Trust. Inspite of reminders to the Bank, it went on postponing the closing of the account and delivering the cheque for the amount due. The Bank wanted the Managing Trustee to produce the copy of the Trust Deed. The Managing Trustee sent the copy of the Trust Deed to the Bank under certificate of posting along with the letter dated 25.6.1991. Hence the Managing Trustee has filed this complaint for the following reliefs: 1. To direct the respondent to close the account bearing No.246 of the Complainant in the Respondent Bank;

(2.) To direct the Respondent to deliver the cheque for the entire amount in the credit of the said account of the Complainant;

(3.) To direct the Respondent to pay interest to the amount in the said account at the rate of 45% p. a. from 10.6.1991 till the date of payment.