PRESIDENT DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, SAMBALPUR

                             CONSUMER COMPLAINT NO.58/2019

Present-Dr. Ramakanta Satapathy, President,

  Sri. Sadananda Tripathy, Member,

Kiran Sahoo,

W/O-Papu Sahoo, At Plot No. 34, Viskarma Vihar, Rourkela,

Dist-Sundargarh-769004.                                              .……….......Complainant.

Vrs.

1. SREI Equipment Finance Limited, Main Branch,

Represented through is Branch Head, Y-10, Block EP Sector-V,

Salt Lake City, Kolkata-700091.

2. SREI Equipment Finance Limited, Branch Office,

Represented through its Branch Manager Purnwasi Niwas,

Main Road, Ainthapali, Budharaja, Sambalpur-768004.

3. Branch Manager, SREI Equipment Finance Limited, Branch Office,

Purnwasi Niwas, Main Road, Ainthapali, Budharaja, Sambalpur-768004.

4. SREI Equipment Finance Limited,

Represented through Branch Head, 2^nd Floor, Choudhury Complex, Panposh Road, Rourkela-769004, Odisha.

5. Branch Head, SREI Equipment Finance Limited, 2^nd Floor, Choudhury Complex, Panposh Road Roukela-769004, Odisha.
6. The Vice-President SREI Equipment Finance Pvt. Ltd.

HIG-1, 2^nd & 3^rd floor, Gangadhar Meher Marg, Jayadev Vihar,

Bhubaneswar, Odisha.

7. Lectronic Stockyard, Represented through its Stock in Charge,
8. The Collection Head, SREI Equipment Finance Limited,

Rourkela-769004, Odisha.…...……….Opp. Parties

Counsels:-

1. For the Complainant         :- Sri. P.R. Behera, Adv. & Associates
2. For the O.P.s                       :- Sri. S.K. Mohanty, Adv. & Associates

Date of Filing:03.10.2019,Date of Hearing :29.08.2023,Date of Judgement : 09.10.2023

  Presented by Dr. Ramakanta Satapathy, PRESIDENT

1. The Complainant availed a vehicle loan from the O.P. No.2 & 3 in 2018 amounting to Rs. 28,28,000/-. Vide contract No. 146597 period of repayment was fixed from 15.02.2018 to 15.02.2023, 60 EMIs with monthly installments of Rs. 67,388/-. The vehicle was registered before R.T.O. Rourkela vide Regd. No. OD 14N-1147. The O.Ps never supplied copy of account statement. Due to financial difficulties the Complainant could not pay the installments regularly. After repeated request the O.Ps provided an unsigned calculation sheet and demanded Rs. 3,86,639/-. The Complainant on 11.06.2019 paid Rs. 1,00,000/- through NEFT. On 19.06.2019 when the vehicle was loaded with iron material the O.Ps repossessed the vehicle. An application was filed for release of iron materials on 25.06.2019 and it was released by the O.Ps. The Complainant visited the offices at Rourkela, Sambalpur, Kolkata etc. but the O.Ps not responded. With much difficulty the Complainant got an account statement and on 15.05.2019 the outstanding dues was Rs. 2,69,551.15P but on 11.06.2019 the Complainant paid Rs. 1.00 lakh.

Being aggrieved this complaint was filed with a prayer to return back the vehicle.

2. The O.P. No.1 & 2 in their version submitted that the case No. C.P.(1B) No. 294/2021 before the National Company Law Tribunal, Kolkata(NCLT) commenced as per provisions of the insolvency and Bankruptcy Rules, 2019 and the R.B.I. released press clip dated 08.10.2021 for initiation of corporate insolvency resolution against the O.Ps and the Bankruptcy code prohibits institution and continuation of suits or proceedings. Accordingly, the case is not maintainable.
3. Perused the documents filed by the parties. Vehicle No. OD-14N-1147 was financed by the O.Ps and on non payment regularly, the vehicle was repossessed by the O.Ps on 19.06.2019. The materials on the vehicle loaded has been released by the O.Ps on 25.06.2019. On 11.06.2019 after payment of Rs. 1.00 lakh also the vehicle was repossessed by the O.ps as the outstanding as on 15.05.2019 Rs. 2,69,551.15P.

As liquidation proceeding is pending against the O.Ps under the Insolvency and Bankrupcy code, 2016 and Under the SARFAESI Act, 2002 assets of the O.Ps are attached and taking into consideration the press release dated 04.10.2021 of the Reserve Bank of India passing of any order under the Consumer Protection Act, 1986 will be infructuous and will lead to multiplicity of cases.

Accordingly, we are of the view that the Complainant is at liberty to move to the competent court of law for redressal of her grievance and it is ordered:

ORDER

The complaint is dismissed against the O.Ps on contest. The Complainant is at liberty to move to competent court of law for her grievance relating to unfair trade practice and deficiency in service. No cost.

Order pronounced in the open Court on this 9^th October, 2023

Supply free copies to the parties.