IMPORTANT POINT
NRE Account is meant for only foreign currency transactions and Indian currency is not acceptable in this account.

ORDER

C. Viswanath, Presiding Member.—The present Revision Petition, under Section 21(1)(b) of the Consumer Protection Act, 1986 has been filed by the Petitioner against the order dated 31.5.2013 of the Punjab State Consumer Disputes Redressal Commission (hereinafter referred to as the “State Commission”) in Appeal No. 1799 of 2009.

2. Along with the Revision Petition, IA/3845/2014, an application for condonation of delay of 45 days has also been filed by the Petitioner. The Registry of this Commission has calculated the delay of 48 days. As per the

3. The case of the Complainant is that he opened two accounts with the Petitioner Bank, NRE Account No.121801000025364 and NRO-SB Account No.121801000040910 on 27.3.2008 and 11.3.2008 respectively. The Respondent / Complainant deposited an amount of Rs.13.50 lakhs on 6.3.2008 but the amount had not been credited in any of his accounts. The Petitioner Bank had misappropriated the said amount due to which the Complainant suffered mental harassment and therefore was entitled to compensation. A Complaint was filed before the District Forum with the prayer that the Opposite Party be directed to credit an amount of Rs.13,50,000/- in the account of the Complainant alongwith interest w.e.f. 06.03.2008 and Rs.50,00,000/- as compensation for mental torture and agony suffered by him and his attorney.

4. The case was contested by the Petitioner/Opposite Party that the Complaint was not maintainable. The receipt dated 6.3.2008 produced by the Complainant/Respondent was forged and fabricated and no such amount was deposited in the NRE Account, wherein only foreign transactions taken place. Only Rs.8.50 lakhs was deposited for opening the NRO-SB Account. Rs.5 lakhs was invested in Aviva Life Insurance, Rs.3 were paid as premium on 6.3.2008 and Rs.2 lakhs as premium on 8.3.2008. As such, there was a total reimbursement of Rs.13.50 lakhs in the name of the Complainant. The NRE Account was opened on 27.3.2008 and, therefore, deposit of an amount of Rs.13.50 lakhs on 6.3.2008 in the said account, did not arise. The Complainant filed the Complaint with an ulterior motive to drag the Petitioner Bank into unwarranted litigation.

5. The District Forum after hearing Learned Counsel for the Parties, came to the conclusion that it being a complicated matter of law and facts, it would be proper to approach the Civil Court for adjudication of the matter.

6. Aggrieved by the order of the District Forum, the Complainant filed First Appeal before the State Commission. After hearing both the Parties and perusing the record, the State Commission accepted the Appeal and set aside the order of the District Forum. The Complaint filed by the Respondent was allowed and the Appellant was directed to make credit entry of Rs.13.50 lakhs in any of the two Accounts. The Appellant Bank was also directed to pay interest on that amount as admissible from time to time in the Saving Account w.e.f. 6.3.2008 till payment. Cost of Rs.50,000/- was also imposed on the Appellant Bank which included litigation expenses. Hence, the present Revision Petition has been filed by the Petitioner/Opposite Party.

7. Heard the Learned Counsel for both the Parties and carefully perused the record. Learned Counsel for the Petitioner/Opposite Party submitted that the Respondent/Complainant had not deposited Rs.13.50 lakhs on 06.03.2008. The receipt produced by the Complainant before the District Forum was forged and fabricated. He deposited Rs.8.50 lakhs only on 10.03.2008 and Rs.5 lakhs were invested by him in Aviva Life Insurance. It was submitted that the Complainant had put forth a concocted story that he deposited Rs.13.50 lakhs in the NRE account on 06.03.2008. In fact the NRE account came into existence only on 27.03.2008.

8. Learned Counsel for the Respondent/Complainant contended that he deposited Rs.13.50 lakhs with the Opposite Party Bank and two accounts were opened. Later he discovered that only Rs.8.50 lakhs was deposited in Account N