New Delhi, June 3 -- Settling a 17-year-old commercial dispute, a city court has said its prolonged trial demonstrated the "malaise of delayed commercial justice", having an adverse impact on the country's economy.
District Judge Monika Saroha was hearing a suit filed in April, 2008 by a company against the Jammu and Kashmir Bank Ltd for recovery of around Rs 17.92 lakh paid to the bank as processing fee or upfront charges for processing of a loan.
In its order on May 26, judge Saroha noted the plaintiff (company) failed to establish that it was entitled to a refund of processing fees, according to the original sanction letter. "The defendant bank, having processed the loan application and undertaken significant efforts, is entitled to re...