ORDER

Prem Narain, Presiding Member—This consumer complaint was decided by this commission vide order dated 9th August 2011. However, the opposite party Punjab National Bank filed an appeal against this order being Civil Appeal No.11316 of 2011 before the Hon’ble Supreme Court and the Hon’ble Supreme Court vide it’s order dated 13th February 2012 remitted the matter to this commission for deciding the complaint afresh by considering all the technical objections raised by the opposite party.

2. Accordingly, the matter has been heard again. Recapitulating the brief facts, the learned counsel for the complainant has stated that the complainant is a Government of India enterprise and is engaged in supplying raw material to various industries. The complainant entered into an agreement dated 9th November 1992 with M/s Bassein Metals Private Limited (in short BMPL)for supply of raw material under the raw material assistance scheme of the complainant. The opposite party Punjab National Bank was the collecting bank for the complainant and after collection of money the same was to be sent to the account of the complainant through State Bank of India which was the letter of credit (LC) issuing