New India Assurance Co. Ltd. VS State Bank of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

C. VISWANATH, SUBHASH CHANDRA
New India Assurance Co. Ltd. – Appellant
Versus
State Bank of India – Respondent

Advocates:
Counsel for the Parties:
For the Petitioner:Mr. J P N Shahi, Advocate
For the Respondent No.1:Mr. Buddy A Ranganadhan, Advocate with Ms Nandini Tomar, Advocate
For the Respondent No.2:Ms K Radha, Advocate

ORDER

Subhash Chandra, Member—This revision petition under section 21 of the Consumer Protection Act, 1986 (in short, the ‘Act’) assails order dated 16.10.2019 of the Karnataka State Consumer Dispute Redressal Commission, Bangalore (in short, ‘State Commission’) dismissing Appeal No. 2204 of 2011 filed against order dated 17.03.2012.

2. The State Commission has held that:—

“The appeal is hereby partly allowed with cost of Rs.5,000/-.

The impugned order passed by the 3rd Additional District Consumer Disputes Redressal Forum, Bangalore in CC no. 1725 of 2010 dated 24.06.2011 is hereby modified as follows:

The complaint is allowed directing

the insurance company to settle the

claim of the loan amount to the extent of Rs.10,06,842.76 with interest up to 06.03.2007 to the appellant bank within three months from the date of this

order.

Similarly, the appellant/ OP – 2 is directed to refund a sum of Rs.2,95,000/- to the complainant/ respondent no.1 within 30 days from the date of this order. Failing which, it shall carry an interest at the rate of 12% per annum from the date of default, till actual payment.

The complainant is also entitled to a compensation of Rs.50,000/- and a c

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