An agent sells goods on credit to a person on behalf of his principal without making proper enquiry about the solvency of that person. It seems from the above that selling on credit is the normal way of doing business. So as far as selling on credit is concerned the agent is entitled to do so. However as he sold goods to a person who was insolvent at the time of sale.
Principal is justified and must sue his agent for loss and the Principal's claim is right. The agent must have used reasonable care and diligence while selling the goods on credit. He should have by no means sold on credit to an insolvent person.
The main objective of the banking Mohtasib is to understand and find out injustice done by anyone to the customer. The examples of wrong charges levied on to the customers, extra commissions charged, incorrect interest rates given on deposits or incorrect interest rate charged on loans and advances. Compliants regarding cheque collections inward and outward transfer of domestic and foreign currency etc. Thus the banking mohtasib is suppose to address all the grievances faced by the customers of the bank.