BANK OF INDIA Vs. BRINDAVAN AGRO INDUSTRIES PVT. LTD.
LAWS(SC)-2020-2-91
SUPREME COURT OF INDIA
Decided on February 28,2020

BANK OF INDIA Appellant
VERSUS
Brindavan Agro Industries Pvt. Ltd. Respondents

JUDGEMENT

HEMANT GUPTA,J. - (1.)The challenge in the present appeal is to an order passed by the National Consumer Disputes Redressal Commission [for short, 'NCDRC'] on 10th May, 2018 whereby an appeal filed by the appellant [for short, 'Bank'] against the order of State Consumer Disputes Redressal Commission [for short, 'SCDRC'] dated 13th July, 2016 remained unsuccessful.
(2.)The respondent [for short, 'Consumer'] was maintaining an account with the appellant Bank at its branch in Agra. The Consumer applied for a loan on 15 th October, 2011. The Consumer sought the following credit facilities:
"1. Enhancement of Working Capital Limit from Rs. 10 crore to Rs. 20 crore;

2. Sanction of ECB/SCL/INR term loan of Rs. 40 crore;

3. Sanction of LC Limit of Rs. 25 crore."

(3.)As per the Bank, the application submitted by the Consumer was handed over to Credit Processing Unit [for short, 'CPU'] at New Delhi on 4th November, 2011 pending submission of the valuation/search report of the properties to be mortgaged and Techno Economic Viability [for short, 'TEV'] study. The officers of the Bank visited the site but on 6 th December, 2011, the Consumer revised its credit requirement as under:
"1. Enhancement of Working Capital Limit from Rs. 10 crore to Rs. 20 crore;

2. Sanction of Term loan of Rs. 40 crore in the form of ECB;

3. Sanction of LC Limit of Rs. 25 crore for deferred payment credit for 3 years on withdrawn basis;

4. LC Limit of Rs. 4 crore for import of raw material from time to time."

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