D.P.WADHWA, J.K.MEHRA, B.K.TAIMNI
SREE KANAKA DURGA HATCHERIES PVT. LTD. – Appellant
Versus
STATE BANK OF INDIA – Respondent
Mr. Justice J.K. Mehra, Member—This is a complaint wherein the complainant is seeking the following reliefs :
(a) direct the respondent Bank to disburse the loan of Rs. 2.5 crores being the escalated cost of the project; or
(b) direct the respondent Bank to pay compensation to the tune of Rs. 21,42,000/- due to accumulated capital losses incurred on account of unconscionable and unexplained delay which amounts to deficiency of service;
(c) award pecuniary damages actually suffered by the complainant by reason of the failure, negligence and omission to sanction and disburse the loan and interest on the same; and
(d) pass any other order or orders as may be deemed just and proper to meet the ends of justice.
2. It is alleged by the complainant that they had set up a hatchery and wanted a working capital facilities and financial assistance from, inter alia, the respondent, State Bank of India. It is alleged that State Bank kept exchanging correspondence and never disbursed the loan which it had sanctioned. On a query it was pointed out that the sanction letter is Annexure-I to the reply version of the State Bank. In the course of the arguments, it was pointed out to us by the Counsel
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