Date of Filing: 06.02.2018
Date of Order:12 -2-2020
BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM – I, HYDERABAD
P r e s e n t
HON’BLE Sri P.VIJENDER, B.Sc. L.L.B., PRESIDENT
HON’BLE Sri K.RAM MOHAN, B.Sc. M.A L.L.B., MEMBER
HON’BLE Smt. CH. LAKSHMI PRASANNA, B.Sc. LLM. (PGD (ADR) MEMBER
On this the Wednesday the 12th day of February , 2020
C.C.No.78 /2018
Between
- Smt.Jaswanth Kaur, W/o. S.Naunihal Singh
Aged about 67 years, Occ: House wife,
R/o. H.NO. 7-1-395/40, Community Hall Lane,
S R Nagar, Hyderabad.
- Mr.Sarlok Singh, S/o.Naunihal Singhall Lane,S.R. HallH
Aged about 43 years,Occ: Business
R/o. H.NO. 7-1-395/40, Community Hall Lane,
S R Nagar, Hyderabad.
- Sardar Trilok Singh,
Aged about 43 years,Occ: Business
R/o. H.NO. 7-1-395/40, Community Hall Lane,
S R Nagar, Hyderabad – 500 003. ……Complainants
A n d
- The Standard Chartered Bank,
Rep.by its Authorized Signatory,
Ashok Bhoopal Chambers,
Secunderabad .
- The Standard Chartered Bank,
Rep. by its Authorized Signatory,
Home Loan Department, Post Box No.8888,
Chennai – 600 001. …….Opposite Parties
Counsel for the complainants : M/s.K.Ramanjaneyulu
Counsel for the opposite Parties : N.Sujatha
O R D E R
(By Sri K.RAM MOHAN, B.Sc. M.A L.L.B., MEMBER on behalf of the bench)
This complaint has been instituted under Section 12 of C.P. Act 1986 alleging that refusal to refund the title deeds and issuance of ‘No Objection Certificate’ even after clearing the entire loan amount amounts to deficiency in service thereby praying this Forum to direct the opposite parties to return the title deed documents and to issuing “No Objection Certificate” and compensation for an amount of Rs.1,00,000/- towards mental agony.
2) The facts of the case, in brief, for disposal of this complaint are that the complainant availed a loan against residential property for an amount of Rs.50,00,000/- opted
For variable rate of interest @ 15% p.a. to be repayable in 120 months at the rate of EMI of Rs.80,668/- with an end on 18.10.2017. The complainant avers that he has paid all the 119 installments and the 120th on 17.11.2017. Subsequent to the alleged payment of entire installments when the complainant approached the opposite party , he was informed that an amount of Rs.15,00,000/- still to be paid as such they could not release the deposited title deed etc., documents to the complainant. Hence this complaint with a prayer to grant reliefs, as stated supra.
3) The version of the opposite parties is that they admitted the facts of deposit of the title deeds, availment of loan for amount of Rs.50,00,000/- with variable interest @ 15% p.a. to be repayable in 120 installments with EMI of Rs.80,668/- against loan account No.4715477, based on the collateral security of documents of title deeds belonging to complainant but denied the payment of entire loan amount and stated that the complainant has to pay still an amount of Rs.15,68,719/- which includes arrears of Rs.2,50,057.53ps. The opposite party further contended that some of the Cheques issued by the complainant when sent were bounced on the ground of “ insufficient funds” which happened on account of not maintaining sufficient balance from time to time in the account concerned. The contention of the opposite party is that on each occasion of the bouncing of the said Cheques, they levied charges for the same. In view of the said facts much less the said amount is still to be paid by the complainant they refused to release the deposited title deed documents and to issue NOC to the complainant. As complainant alleged to have made false end baseless allegations with malafide intention to harass the opposite party, this complaint is said to have been filed. As such, the opposite party prayed this Forum to dismiss the complaint with exemplary costs u/s. 26 of the Consumer Protection Act6, 1986.
4) In the enquiry, the first complainant has filed his evidence affidavit supported by documents and got them marked as Exhibits A1 to A12 and on behalf of opposite parties they filed written version, evidence affidavit supported by documents which have been got marked as exhibits B1 to B5. Heard the learned counsel for both the parties and perused the documents on record .
Now the point emerge for consideration for disposal of this complaint as follow :
- Whether there is any deficiency in service on the part of the opposite parties in returning the documents and issuance of NOC to the complainant. ?
- Whether the complainants are entitled to reliefs as prayed for in the complaint? if so what relief?
- Point No.1:- Clause No.2.2 of the “ Schedule attached to the agreement for loan/property” duly signed by the parties concerned to the agreement clearly shows that the complainant has opted for variable rate of interest for interest scheme as such the complainant is bound to follow the terms and conditions of the said agreement (Ex.B1). Thus, the opposite party has proved that the complainant has to still pay the dues. In view of this, the contention of the opposite party as to refusal on its part for returning title deed documents and issuance of “No objection” certificate is sustainable. Ex.B4 is the loan against the property account No. as “ 47154772”. Ex.B2 is the statement of account which reveals that as on 17-02-2015, taking the variable rate of interest into account, shows that the complainant has still to pay Rs.15,68,719.83 which appears to be proper and convincing.
- Point No.2:- In view of the above discussion and in the light of the facts and circumstances of the case, the complaint is dismissed.
- In the result, the complaint is dismissed being bereft of merits and no order as to costs.
MEMBER MEMBER PRESIDENT
APPENDIX OF EVIDENCE
WITNESSEXAMIND
Nil
Exs. filed on behalf of the Complainant:
Ex.A1- Copy of Sale Deed
Ex.A2 – Copy of sanction letter
Ex.A3 – Copy of notice
Ex.A4 - Copy of notice
Ex.A5 - Copy of notice
Ex.A6- Copy of notice
Ex.A7 – Copy of complaint
Ex.A8 – Copy of statement given by OP & pass books
Ex.A9 – O/c. legal notice dt.22.12.2017
Ex.A10 – Postal receipt
Ex.A11 - Acknowledgement
Ex.A12 – Repayment schedule.
Exs. filed on behalf of the Opposite party
Ex.B1 – Agreement for Loan against Property
Ex.B2 – Statement of Account
Ex.B3 – Application Form
Ex.B4 – Loan against property Account No.47154772
Ex.B5 – Normal interest calculation statement.
MEMBER MEMBER PRESIDENT
