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RAM SURAT RAM MAURYA
Nirmal Agarwal – Appellant
Versus
Chief Manager, Bank of Baroda – Respondent
ORDER
Heard Mr. Prakash Shah, Advocate, for the complainant, Mr. Arun Agrawal, Advocate, for opposite party-1 and Mr. Ramesh Babu M.R., Advocate, for opposite party-2.
2. Nirmal Agarwal has filed above complaint for directing Bank of Baroda to pay (i) Rs.15386807/- i.e. his balance surplus amount; (ii) Rs.8104698/-, i.e. less amount remitted to Cargill; (iii) Rs.6782399/-, i.e. excess amount remitted to the beneficiary; (iv) Rs.53102528/-, i.e. less interest paid as per contractual obligation; (v) Rs.4279581/-, i.e. the amount deducted from the interest payable on the term deposits; (vi) Rs.638151134/-, i.e. debited on account of cancellation of foreign currency forward contract; (vii) Rs.3212292/-, i.e. loss suffered on account of cancellation of foreign currency forward contract; (viii) Rs.11336887/-, i.e. the commission charged on the letters of guarantee, cancelled unilaterally; (ix) Interest on these amounts @18% per annum from 21.03.2007 till the date of payment; (x) Rs.10000000/-, as compensation for business loss; (xi) litigation costs; and (xii) any other relief, which is deemed fit and proper, in the facts of the case. During arguments, the counsel for the complainant inf
The need for initiating proceedings within a reasonable period and the unfairness and unreasonableness of initiating proceedings after a significant lapse of time.
Insurance claims must be honored if the failure to accept goods is covered under the policy, despite alleged exclusions.
A person availing services for commercial profit-making purposes is excluded from definition of Consumer.
The court discussed the necessity of balancing enforcement of penalties with considerations of undue hardship, allowing for a modification of pre-deposit requirements due to financial distress.
The main legal point established in the judgment is that the authority must consider and address relevant submissions and contentions raised by the parties, and failure to do so may render the order ....
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