G.G. Loney, President — This is a rare complaint by a depositor alleging negligence in Banking service. The complainant is therefore claiming compensation from the Corporation Bank on account of Financial Loss suffered by Filmalaya Pvt. Ltd. as a result of defective banking services in relation to his two accounts.

2. It is necessary to state the facts of this Complaint. Filmalaya (P) Ltd. is a famous studio at Andheri (W), Bombay. Since last 30 years the studio is hired by various producers for shooting films. Opposite Party, the Corporation Bank (for short Bank) had estabalished a small counter next to the Filmalaya studio at Ceasar Road, Bombay. Filmalaya Pvt. Ltd. opened Account No. 16 on 1.12.1979 and another Account No. 162 on 20.12.1985 with the Bank counter. According to complainant Account No. 16 was meant for hiring business of the studio while Account No. 162 was operated for payment of telephone, electricity bills and incidental maintenance of the studio. Pradeep Roy was the cashier in the employment of complainant and was handling day to day bank work of depositing cheques, cash and also used to withdraw cash from the Bank. However, the cheques were being signed by