AIR 2008 (NOC) 2002 (NCC) ::2008 (4) ALJ (NOC) 858 (NCC) (NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION, NEW DELHI) ::2008 (5) ABR (NOC) 942 (NCC) (NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION, NEW DELHI) ::2008 (5) AKAR (NOC) 812 (NCC)

National Consumer Disputes Redressal Commission

Hon'ble Judge(s): M. B. Shah, Rajyalakshmi Rao , JJ

(A) Consumer Protection Act (68 of 1986) S. 2 (1)(g)— Deficiency in service by Bank — Bank in collusion with builder sanctioned loan in name of complainants hurriedly and disbursed it to builder directly — Sanctioned amount higher than value of security offered though buyer paid only token amount for purchase — No explanation given for amount disbursed and quantum and nature of work done by builder — Vigilance case was launched against concerned Branch Manager — Bank cannot take shelter under Securitisation Act after perpetuating fraud — Bank’s interest in property would stand relinquished