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directs to reverse ₹3.89 lakh inadvertent transfer to wrong beneficiary
The has directed to reverse a transaction of ₹3,89,981 which was inadvertently transferred by to a wrong beneficiary, , instead of the intended payee . The order was passed by Justice Jasmeet Singh on , in a under .
Background of the Case
, a business entity, intended to transfer ₹3,89,981 to towards payment for goods purchased. However, while making the transaction through internet banking on , the amount was mistakenly credited to due to similarity in names. Upon realizing the error, the petitioner immediately contacted requesting reversal of the amount. The petitioner also informed its banker, , which in turn communicated with , where the recipient's account was maintained, seeking reversal. subsequently furnished a to , to indemnify ICICI against any loss arising from the reversal. Despite these efforts, the amount was not returned, prompting the petitioner to approach the High Court.
Arguments Presented
, counsel for the petitioner, submitted that the transfer was a and that the amount was intended for but was erroneously transferred to . On the other hand, , representing , stated that upon query, had informed the bank that the amount was correctly paid to it. However, the court noted that despite being granted an opportunity on , to file documents supporting its claim, failed to do so and also ceased to appear before the court.
Court’s Reasoning and Key Observations
Justice Jasmeet Singh observed that the dated , issued by in favor of , demonstrated the genuineness of the petitioner's claim and the support extended by the petitioner’s bank. The court noted, “The said shows the genuineness of the claim of the petitioner as well as the support of respondent No. 2.” Additionally, the court remarked that despite more than two years, neither had any document been filed by nor was anyone appearing on its behalf. Based on these findings, the court concluded that the petition deserved to be allowed.
Final Decision
The High Court directed to reverse the transaction dated , bearing UTR No. IDIBR52023112336321946, amounting to ₹3,89,981. The court also made the petitioner and bound by the that they would bear the consequences if the amount was wrongly reversed. However, the court declined the petitioner’s request for interest, observing that the mistake was entirely the petitioner’s and no fault could be attributed to the respondents. The petition was disposed of in the above terms.
