Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Bank Dispute

Querist : Anonymous (Querist) 08 September 2010 This query is : Resolved 
I had taken a commercial loan from a top MNC bank for my commercial purpose. They handled my account with complete negligence and there were several errors and wrong charges charged by them.

I took them to consumer court, but the court dismissed my charges saying consumer court is not the correct forum.

There is a arbitration clause also in my agreement.

Please advice what I should do.
Parthasarathi Loganathan (Expert) 08 September 2010
You can file an application in the Banking Ombudsman
Devajyoti Barman (Expert) 08 September 2010
The order of the consumer forum is not right as arbitration clause is no hindrance to initiate proceeding under consumer protection act and both the consumer case and the arbitration proceeding can proceed parallely. Challenge the order before the State Commission.
R.Ranganathan (Expert) 08 September 2010
Best way is to approach the Banking Ombudsman. Here you have also not mentioned whether the Bank has to pay any amount to you or not. Your only grievance is that of negligence. So take up the matter with the Banking Ombudsman after giving notice to the Bank.
Surender Dhull (Expert) 08 September 2010
Best way is to approach the Banking Ombudsman. Here you have also not mentioned whether the Bank has to pay any amount to you or not. Your only grievance is that of negligence. So take up the matter with the Banking Ombudsman after giving notice to the Bank.

I am not agree with Mr. Devajyoti because the Hon'ble Supreme Court has decided that if there is arbitration clasue in the agreemnt then the party should have to aproach the arbitertor firstly then proceed further.
Devajyoti Barman (Expert) 08 September 2010
Dear Mr Dhull, the supreme court has also held that arbitration clause does not come in the way of filing complaint to the consumer forum and both run paralelly. I am myself conducting a number of cases in State Commission as well as in Calcutta High Court in arbitration on the same dispute.
Querist : Anonymous (Querist) 09 September 2010
Please note the case was dismissed from the consumer forum on the grounds that this is a commercial loan and hence not the correct court. Please advice.

Please note my lawyer says the case does not fall in the jurisdiction of Ombudsman Bank.

So is Arbitration the only solution.




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