Branch Manager Bank of Baroda VS Shahul Hameed

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

K. SURENDRA MOHAN, AJITH KUMAR D., RADHAKRISHNAN. K. R.
Branch Manager Bank of Baroda – Appellant
Versus
Shahul Hameed – Respondent

Advocates:
Counsel for the Parties:
For the Appellants:George Mathew, Advocate
For the Respondent:Arun Valenchery, Advocate

JUDGMENT

Ajith Kumar D., Judicial Member.—The appellants are the opposite parties in C.C. No. 115/2013 on the file of the District Consumer Disputes Redressal Commission, Ernakulam (District Commission for short). As per the order dated 10.06.2015, the District Commission had allowed the complaint and directed the 1st opposite party to pay 29,268.51 US dollars, with interest @ 18% as per the conversion value as on 06.06.2012 and to pay Rs. 10,000/- as costs. Being aggrieved by the aforesaid order this appeal has been filed.

2. The case of the complainant is that the complainant is maintaining an NRE account with the 1st opposite party since 1993. On 24.05.2011, the complainant had deposited a DD of US Dollars 28762.62 in FCNR Term Deposit for 12 months, so that he could withdraw the amount in US dollars at any time during the said period. During September 2011 the complainant had approached the 1st opposite party for withdrawal of the amount as he was in urgent need of foreign currency and the conversion value had reached Rs. 57/- per dollar. But the Manager told the complainant that the deposit was transferred to forward booking from FCNR term deposit by the previous Manager, and th

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