https://www.taxtmi.com/caselaws?id=165266 The Supreme Court found in favor of the appellant in a case involving negligence by a bank in dealing with pledged shares. The court determined that the bank's delay in selling the shares caused a loss to the appellant, constituting a deficiency in service under the Consumer Protection Act. The appellant was deemed a consumer, and the bank was instructed to pay damages of Rs. 5,09,037.47 with interest. The bank was given four weeks to make the payment, with higher interest applicable in case of default. Each party was to bear its own costs in the matter. en-us Wed, 26 Apr 2000 00:00:00 +0530 Wed, 03 Jun 2020 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165266 The Supreme Court found in favor of the appellant in a case involving negligence by a bank in dealing with pledged shares. The court determined that the bank's delay in selling the shares caused a loss to the appellant, constituting a deficiency in service under the Consumer Protection Act. The appellant was deemed a consumer, and the bank was instructed to pay damages of Rs. 5,09,037.47 with interest. The bank was given four weeks to make the payment, with higher interest applicable in case of default. Each party was to bear its own costs in the matter. Case-Laws Indian Laws Wed, 26 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165266