AJIT BHARIHOKE, REKHA GUPTA
ICICI Bank Ltd. – Appellant
Versus
J. C. M. Poultry Farm – Respondent
This appeal is directed against the order of the State Commission, Karnataka dated 24.8.2010 thereby the State Commission allowed the consumer complaint filed by the respondent/complainant and directed the petitioner Bank as under:-
“The complaint is allowed in part.
The OP Bank is directed to release the balance amount to the complainant as per the sanction of loan within two months from the date of receipt of the order.
The complainant on receipt of the said amount shall utilize the same for the purpose of establishing the poultry Farm, for which the loan was sanctioned.
The OP Bank is also directed to pay Rs.5,000/- to the complainant towards the costs of this proceedings”.
2. Briefly stated, the facts relevant for the disposal of the appeal that respondent raised a consumer complaint dispute by filing a consumer complaint before the State Commission, Karnataka alleging that the respondent is a partnership firm. The respondent firm with a view to develop a poultry farm, approached the petitioner Bank for seeking finance. The opposite party No.1 after processing the loan application of the respondent, agreed to finance a sum of Rs.93,77,000/- to the respondent/complainant
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