N. GOVARDHANA BABU Vs. BRANCH MANAGER, INDIAN OVERSEAS BANK

JUDGEMENT

(1.) Having heard the learned counsel for the appellant and having perused the material on record, we are of the opinion that the matter can be disposed of at the stage of admission.

(2.) Appellant is unsuccessful complainant.

(3.) The case of the complainant in brief is that he is a contractor having savings bank account with R1 Indian Overseas Bank (IOB). One Sri Ramabadra Raju had issued a cheque bearing No. 548809 Dt. 29.11.2006 for Rs. 45,000/-. Accordingly he deposited it in R1 bank for collecting the said amount. However, it did neither collect the amount nor return the cheque. On repeated enquiries, he could know that R1 sent the cheque for collection to its branch at Tirupathi, however its employees misplaced it. They did not take any steps to trace the cheque and therefore he could not collect the amount. Due to non-receipt of amount he could not complete his tender works. Therefore he sought for refund of the amount covered under the cheque with interest @ 12% p.a. together with compensation of Rs. 5,000/- and costs of Rs. 5,000/-.