V.K. Jain, Presiding Member—The complainant is a private limited company engaged in the manufacturing of plastic packaging film. The complainant allegedly entered into an arrangement with the opposite party State Bank of India for obtaining term loan of Rs. 6.28 Crores and a working capital of Rs. 2 Crores. According to the complainant, the bank disbursed Rs. 1.47 Crores against the agreed working capital of Rs. 2 Crores and term loan of Rs. 5.60 Crores to it. A fire broke out in the factory of the complainant in the night intervening 14/15.02.2004, resulting in loss of several assets. The claim for reimbursement of the said loss was settled by the insurer for a full and final payment of Rs. 8.69 Crores and the said amount was paid to the bank, against the discharge voucher executed by it.

2. The complainant is now alleging excess adjustment of Rs. 3.38 Crores by the bank and claiming the said amount from it. The break-up of the alleged excess adjustment is as under:-