ORDER

1. The present complaint alleges deficiency against opposite party no.1 Bank of Maharashtra having been negligent and deficient in taking care of the handling a sum of Rs.27 crores entrusted to the opposite party bank in the shape of fixed deposits due to non-observance of the KYC norms by the opposite party bank resulting in siphoning of the entire funds through a fake current account. The contention of the complainant is that the amount was transferred by the complainant from its accounts directly to the bank for investing into fixed deposits that was confirmed by the bank. The remittances were made to the Inter Branch Fund Transfer Account of opposite party no.1 and instructions were issued by the complainant for deposit of the same in fixed deposits. Later on, it was found that a fake account was opened in the name of the complainant by some fraudsters and it is allegedly involving the officials of opposite party no.1, hence criminal proceedings have also been initiated that are pending but the present complaint has been filed praying for refund of Rs.27 crores invested by the complainant together with maturity amount of the fixed deposit receipts and further award of 18%