IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO(S). OF 2024 (ARISING OUT OF SLP(C) NO. 6444/2016)
FEDERAL BANK LTD.THROUGH ITS BRANCH MANAGER & ANR.
... APPELLANT(S)
Versus
SANJEEV NEHRA & ORS. ... RESPONDENT(S)
O R D E R
Heard learned counsel for the parties.
2. Leave granted.
3. The District Consumer Disputes Redressal
Commission1 rejected the complaint filed by the
respondents. However, the State Consumer Disputes
Redressal Commission2 allowed the same and directed
the appellant(s) to release the shares after setting
aside the forfeiture.
4. The National Consumer Disputes Redressal
Commission3 dismissed the revision filed by the
appellant(s) and affirmed the State Commission’s
decision.
1 District Commission 2 State Commission 3 National Commission
1
5. Having considered the submissions advanced, we
are of the view that in the facts and circumstances of
this case, and in order to do complete justice
between the parties, the impugned orders be set aside
and this appeal be disposed of with the following
directions :-
(i)The amount of Rs. 5,00,000/- (Rupees Five
Lakhs only) lying with the Registry of this
Court, along with accrued interest, is to be
paid to the respondents within four weeks.
The respondents to provide the details of
the Bank Accounts of the beneficiaries to
the Registrar within two weeks from today.
(ii) The appellant is directe...