SANT ROHIDAS LEATHER INDUSTRIES AND CHARMAKAR DEVELOPMENT CORPORATION LTD. versus VIJAYA BANK
Because the Bank asserted that the FDR had been pledged to avail an overdraft and the appellant alleged that such pledge/loan was fraudulent (with a criminal complaint pending), there was a serious unresolved factual dispute going to whether the deposit was made for a commercial purpose; that dispute and allegations of fraud could not be resolved in summary consumer proceedings and therefore the complaint was not maintainable and dismissal by the NCDRC was justified.
Source excerpt
- Definition of consumer
- Commercial purpose
- Fixed deposit receipt (fdr)
- Deficiency in service
- Maintainability of consumer complaint
- Pledge/hypothecation