Bank's vengeful conduct can invite punishment

The award of compensation is governed by Sec 73 of the Indian Contract Act, which says a party who suffers due to breach of contract is entitled to compensation for the natural loss

ML Marwah, a senior citizen, had held a savings account with Canara Bank, Patparganj Branch, Delhi for over 10 years. Both his wife Kiran and he had also invested in a number of fixed deposits with the bank.

When the deposits matured and the amount was credited to the bank account, Marwah found a shortfall in interest paid. He complained to the branch manager that his wife had received Rs 11,138 less on her deposit. Since the grievance was not redressed, he approached the zonal manager, Delhi Circle. This infuriated SK Bahera, the branch manager, who prematurely closed all the