S KRUPANIDHI EDUCATIONAL TRUST Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) COMPLAINANT has filed this complaint under Section 17 of the C.P. Act for a direction to the OP to pay a sum of Rs. 66,49,299 with interest at 18% per annum from 6.2.2008 till the date of payment and also sought for compensation of Rs. 25,00,000 towards loss and difficulty caused by it and for other reliefs.

(2.) THE case of the complainant, in brief, is as follows:

(3.) THE complainant has made an application to the OP for sanction of term loan. On that application the OP has sanctioned the term loan of Rs. 21,60,00.000 subject to the terms and conditions mentioned in its letter dated 3.5.2006. The said term loan is repayable in instalments for over a period of seven years. The monthly, instalment payable is Rs 30.00,000.