- (1.) Not satisfied with the majority view of the National Consumer Disputes Redressal Commission (hereinafter called "the National Commission") but allured by the observation made by one of its members (Bala) Krishna Eradi, J., the appellant has moved this Court for modifying the majority order of the National Commission with direction to the respondent to pay the compensation for wrongfully withholding the amount and the interest at the commercial rates as then prevalent.
(2.) The facts of the case are that the appellant-company had a bank account with the respondent-bank wherein in the month of June, 1983 a cheque for Rs. One lakh was deposited by the appellant for collection and the proceeds thereof to be credited to its account. The appellant alleged that though the proceeds of the cheque were collected on June 17, 1983 yet they were not deposited in its account for over a period of seven years. The appellant filed a complaint before the State Consumer Disputes Redressal Commission (hereinafter called "the State Commission") constituted under the Consumer Protection Act, 1986 (hereinafter called 'The Act') detailing therein its entitlement to the following amounts: JUDGEMENT_10_JT6_1999_1.html
(3.) The State Commission partly allowed the complaint by directing the respondent to pay Rs. One lakh with interest at the rate of 12% p.a. with quarterly rests from the date when the amount was received till the date of payment within the time prescribed by it. As noticed earlier the majority of the National Commission confirmed the order of the State Commission. Hence this appeal.;