Bank fined Rs 20,000 for wrong cheque encashment
The district consumer disputes redressal forum, Chandigarh, directed Punjab and Sind Bank, Sector 22, to pay Rs 20,000 as compensation to Ayush Enterprises, Sector 34, after holding it guilty of unfair trade practices and deficiency in services.
Disposing of the complaint filed by Ayush Enterprises, the forum also directed the bank to pay interest on amount of Rs 4.28 lakh (amount of cheque misplaced) from September 2013 till this amount was recovered by the investigating agencies. Apart from this, the bank would also pay Rs 10,000 as cost of litigation.
In its complaint with the forum, Ayush Enterprises said it had an account with Punjab and Sind Bank and had submitted a cheque worth Rs 4.28 lakh to be credited in its account.
The complaint also alleged that the bank rather than sending the cheque for clearance, handed it over to some unidentified person and since then neither the cheque could be traced, nor the amount credited to its account.
The complainant alleged that the bank had deliberately handed over the cheque to some unidentified person, who after making amendments in the cheque had got it encashed.
Denying any deficiency in services, Punjab and Sind Bank said it was only on the asking of a representative of the complainant that the cheque, which was deposited with it for clearance, was returned.
The forum presided over by Rajan Dewan on July 24 held: “The bank failed to demand any authorisation from the person, who was from the complainant’s side and had demanded the cheque back on behalf of the complainant. The bank had not placed on record that the return of such a bank instrument was a common practice with it too without any authorisation... we feel that such an act of the bank is deficiency in service.”