When we make a mistake – most officials would denounce – but
when officials make one, it is called ‘Technical glitch’ .. .. “Never aspire
for anything not due to you – is a very sound advice given by my elders at
home” !
For sure, you
have a Bank Account and today being the start of the month – could have a fat
balance !! – how many times would your Bank account touch 6 figures ! – and
what will you do, when your Bank balance swells ??
‘Naan ready – Neenga Readiya
?” – was the poser to audience by Sarathkumar….. some years ago !
Do you remember the show “Koteeswaran” featuring the actor in Sun TV on
the lines of ‘Kaun Banega Crorepathi’ ?
Koteeswaran is common name – a Hindu name after Lord Easwar; one
denoting unlimited riches. ‘koti’ is
crore and the one named so is blessed to possess crores of values… way back in
1955 there was a Sivaji Ganesan / Padmini / S Balachandar / Ragini starrer ‘Koteeswaran’
produced by Sri Ganesh Movietone with
background score by G Ramanathan. The
story revolving around the fight of two friends was based on BV Warekar’s Marathi play ‘ Haach Mulacha Baap’.
Koteeswaran was a much hyped
game show, a regional Quiz on the lines of KBC – sponsored by Hindustan
Lever… in those days the advt rates for
KBC were stated to be around Rs 3.5 lakh for 10 seconds. Koteeswaran never succeeded the way KBC did –
the poor Tamil viewers were thus denied opportunity of becoming richer unlike
their counterparts from cow belt. There
was another attempt - `Koteeswari',
initially intended to be a game show, a precursor of jackpot, hosted by
Kushbu. The prize money was a lowly lakh
of rupees.
There can be
windfalls ! – and if you are lucky, money could come chasing ! .. .. newspaper
reports suggest that - HDFC customers were left baffled on Sunday morning after
they received a message showing an inflated balance in their bank accounts. A
huge sum of money was deposited into accounts of several people while 100
accounts linked to the T Nagar branch reported the issue. Some accounts were
even credited with an amount as huge as Rs 13 crore.
The incident came to light
after a customer informed Chennai Police fearing that his bank account had been
hacked. Police then contacted branch officials who explained that messages were
sent erroneously while a software patch was being processed which mixed the
debit and credit updates. Some customers
took to Twitter and shared screenshots of the inflated balance. “Even my HDFC
Bank account showed 2.49 crore yesterday morning,” a user tweeted. Another user
tweeted that the balance in his wife’s account increased by 1.23 crore on
Sunday morning and at noon the balance vanished.
The initial report suggested
that all 100 accounts were credited with Rs 13 crore each, but an official from
HDFC confirmed that the amount credited to all accounts was not the same. He further clarified that the issue occurred because of a
technical glitch during a software patch and no hacking had taken place.
Further, the accounts were blocked to fix the issue. When asked about what problems customers may
have to face while filing IT returns, officials assured that a solution would
be provided.
Q : What would do you if you were to receive such
a wrong credit and thus an inflated balance in your Bank Account ?
Some would be
tempted to withdraw the money and use and repay when a demand is raised ! Way bank in 2004 Andhra Bank decided on a similar case
involving Indian Bank and Mocro Electronics .. ..
Indian Bank, Main Branch,
Hyderabad, filed a case seeking Rs.6,82,360/-
with future interest @ 23% per annum from the date of suit till the date of
realization with costs. In Jan 1997
Indian Bank Rajahmundry Branch made a telegraphic transfer to a firm by name Rekha Corporation. However due to oversight and by mistake the
amount was credited. In July 1997, Rekha Corporation informed the plaintiff that
an amount of Rs. 5,60,000/- which was transferred from Indian Bank, Rajahmundry
was not credited to its account. The
Bank upon verification of transactions found that Rs.5,60,000/- which ought to have been
credited to the account of M/s. Rekha Corporation was wrongly credited to the
account of the 1st defendant
due to oversight. The amount which was wrongly credited to the account of the
1st defendant was unauthorisedly, illegally withdrawn – which the plaint stated
as nothing but playing fraud on the Bank
and was unjust enrichment.
The Bank contacted the
Account holder requesting them to pay back the amount wrongly credited. The account holder admitting that the money
was not theirs and wrongly credited to their account made a part payment of
Rs.50000/- in Aug 1997 but despite
remainders, did not pay up the balance.
The Bank filed a criminal complaint for
cheating and misappropriation of funds.
The wrongful credit and part repayment are not in dispute – the Bank
alongside repayment sought interest also.
This relief was negatived by the
trial Court on the ground that there was no evidence on the part of the Bank
too whether Bank paid any interest on Rs. 5,60,000/- to M/s. Rekha Corporation,
the rightful beneficiary.
Chief Manager of the Bank
deposed before the Court that an amount of Rs.560000/- through telegraphic
transfer was wrongly credited to account no. 2017 instead of 3017 of Rekha
Corporation. The defendants too admitted that they withdrew
the money on various dates and paid back Rs.50000/- on 4.8.1997. A finding had been recorded by the trial Court
that inasmuch as the respondents/defendants only had operated their account and
there was negligence on the part of the Bank staff in making the wrong
crediting of the amount, the respondents/defendants cannot be found fault and
in view of the fact that Rs. 50,000/- prior to the filing of the suit and Rs.
5,10,000/- subsequent to the filing of the suit had been paid to the Bank, no further relief need be granted to favour of the
appellant/Bank.
Section 72 of
the Indian Contract Act 1872 dealing with Liability of person to whom money is
paid, or thing delivered by mistake or under coercion, specifies: "A
person to whom money has been paid, or anything delivered, by mistake or under
coercion, must repay or return it." The object of Section 72 of the Indian
Contract Act 1872 is to prevent unjust enrichment and this principle is based
on the doctrine of equitable restitution.
The trial Court no doubt
negatived the relief mainly on the ground that the conduct of the staff of the
Bank is blameworthy. The High Court held
that – Bank is entitled to recover interest at 6% per annum
on Rs. 5,10,000/- from the date of institution of the suit till the date of
repayment of the amount made by the respondents/defendants during the pendency
of the suit.
Well,
after reading this – you may be tempted to checking your Bank account
immediately !
1st June 2022.
Nice!!!!"
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