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2012 Supreme(Mad) 3195

N.KIRUBAKARAN
Ashok Amritraj – Appellant
Versus
Reserve Bank of India, through the office of Banking Ombudsman – Respondent


Advocates appeared:
For the Petitioner:George Cheriyan, Advocate.
For the Respondents:R2 & R3 - G. Masilamani, Senior Counsel for R. Umasuthan, Advocate.

Judgment :-

1."AS YOU SOW, SO YOU REAP ". What will be reaped by a party, if a party commits "suppression of material facts, pleading falsehood", the decision in this case would give the result. The petitioner invested a sum of Rs.6,35,00,000/-in the fixed deposits with the second respondent bank for the period of one year. On maturity, the amounts were not released inspite of request and reminders. Therefore, the petitioner is before this court seeking mandamus to discharge of the petitioner's fixed deposit receipts to the tune of Rs.6,80,76,104/-.

2. The case of the petitioner is that he deposited Rs.6,35,00,000/-in second respondent bank by fixed deposit of Rs.6,35,00,000/-by issuing a cheque bearing No.650104 dated 9.8.2010, drawn on Indian Overseas Bank, Nungambakkam Branch. The deposit was made through duly authorising his Manager Mr.Anis.A.Abid. The second respondent issued six receipts each for Rs.95 lakhs and 7th receipt for Rs.65 lakhs. The maturity of the fixed deposit was on 13.8.2011. As the fixed deposits were to mature on 13.8.2011, the petitioner requested through his manager to issue pay order by discharging the F.D. receipts. However, the second respondent staff d
















































































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