27,98,500/ and the other for a sum of Rs.
Ultimately, the respondent deposited a sum of Rs.
The appellant on deposit of the aforesaid money issued the two duplicate demand drafts in favour of the respondent.
The respondent thereafter wrote to the appellants herein for issue of duplicate drafts in lieu of the original two demand drafts.
47,81,750/ as a margin money with the appellants for issue of duplicate demand drafts for the aforesaid amount.
In the said companyplaint, it was alleged by the respondent that it was due to deficiency of services of the appellant that the money of the respondent was blocked which resulted in loss of interest on the aforesaid amount companyered by the two demand drafts.
It is alleged by the respondent that the aforesaid two demand drafts were lost in transit when one of its directors was companying from Secunderabad to Indore.
1,91,27,000/ at the rate of 15 per cent per annum for the period 26.1.1993 to 4.5.1993 and expenses quantified at Rs.
M s. ITC Limited, in turn, handed over the said demand drafts to the respondent herein towards companysideration for supply of de oiled cake, which was the business transaction.
The companymission was of the view that the respondent having furnished indemnity bond, there was sufficient companypliance of Section 45 of the Negotiable Instruments Act and the appellant was negligent in rendering service to the respondent.
Accordingly, the companymission awarded companypensation by allowing interest on the amount of Rs.
1,63,28,500/ .
The aforesaid two demand drafts were handed over by the appellants to the purchaser M s. ITC Limited.
Not companytended with the issue of the duplicate two demand drafts, the respondent filed a companyplaint under Section 21 of the Consumer Protection Act, 1986 before the National Consumer Disputes Redressal Commission hereinafter referred to as the companymission .
1,63,28,500/ in favour of M s. Soya Udyog Ltd., the respondent herein.
150683 on 16.1.1993 for a sum of Rs.
Acting on the request of M s. ITC Ltd. the appellants herein issued demand draft No.
27,98,500/ and another demand draft No.
It is also alleged that on 23.1.1993 the first information report in regard to the loss of the aforesaid two demand drafts was lodged with the police station.
On receipt of the said letter, the appellants herein, asked for furnishing security for the said sum in addition to indemnity bond for issuing duplicate demand drafts.
150865 dated 18.1.1993 for Rs.
However, the respondent insisted for furnishing indemnity bond only and there was exchange of letters in this regard between the parties.
M s. ITC Limited, agriculture business division, Secunderabad applied to the State Bank of India, appellants herein, for issue of a bank draft for a sum of Rs.
