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BANK TOLD TO PAY RS. 11 LAKHS FOR NEGLIGENCE

The Delhi consumer commission has asked the State Bank of India (SBI) to pay Rs.11 lakh for ignoring a request from an Italian company not to honour cheques from a lost cheque book. The bank was told to pay Rs.11 lakh to the company for releasing the payments and Rs.10,000 as litigation expenses. The bank argued that it had encashed only cheques about which the company had not given any instruction to stop payment. 


The case dates back to 2003 when the Italian company informed the bank that it had lost a cheque book and no payment should be released against the unused cheques. It also listed the details of the cheques issued from the cheque book before it went missing. 

Despite the complaint, the bank released payment of six cheques totalling Rs.11 lakh. The company then approached the consumer court seeking compensation.


Posted by C.B.O.A., A.P.

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