Order No.                 .

This is an application u/s.12 of the C.P. Act, 1986.

          Complainants by filing this complaint has submitted that he took two House Loans from SBI on the basis of two loan accounts No.HBL 10597164066 from Amherst Street Branch and another being No. HBL 30121965797 from Jeevandeep Branch and complainants received amount of Rs.3,36,000/- in spite of sanctioned loan of Rs.3,41,000/- from Amherst Street Branch and Rs.1,19,000/- in spite of sanction loan of Rs.1,25,000/- from Jeevan Deep Branch by depositing title deed of 5A, Ram Seth Road, P.S. Jorabagan, Kolkata – 700 006 as guarantee i.e. on mortgaging the same from 15-07-2005 to 30-03-2009 a sum of Rs.2,14,000/- has been paid as interest and also paid a sum of Rs.90,000/- to SBI SARB Kolkata-13315 on 25-01-2013 amounting to Rs.50,000/- and on 26-02-2013 amounting to Rs.10,000/- and 24-04-2013 amounting to Rs.10,000/- as per their instruction of the Lok Adalat as per settlement to the parties and it was agreed that entire loan will be settled after payment of Rs.4,35,000/- to the Bank and complainants also pay a sum of Rs.20,000/- on 04-06-2013 and 04-07-2013 (Rs.10,000/- each).  Complainants paid interest regularly to the Bank including the principle amount but the bank persons are threatening the complainants to sell the property of the complainant to third party.  Complainants want to pay settled amount to the Bank not directly, but through this Forum otherwise the bank did not pay any heed to the complainants.  So, the service rendered by the OP is highly deficient in nature and in the circumstances, complainants have prayed for directing the OP to settle the said dispute and also directing the OP to settle the matter after receiving a sum of Rs.3 lakhs by part payment of Rs,3,00,000/- within 3 months.

          On the other hand, OP by filing written statement submitted that entire allegation is false but admitted that complainants took a house building loan after depositing title deeds and, in fact, a sum of Rs.4,788-32 and Rs.6,000/- were deducted as service charge as per prevalent service charges of the Bank and no doubt complainants received Rs.3,36,211-68 and after non-payment of the arrears the dues as on the date of filing the written statement was Rs.7,08,873-95 and there was no question of threatening the complainants from the OP but previously a notice under SARFAESI Act was issued on 08-10-2011 for clearance of the dues of the complainants were not complied with.  So, in the above circumstances, present complaint is not maintainable and this Forum has no jurisdiction to dispose of the matter and for which they have prayed for directing the complainants for payment of the entire dues etc. and prayed for dismissal of the case.

Decision with Reasons

On an indepth study of the complainants including the written version and also considering the material documents as produced by the complainants and OP it is clear that on 08-10-2011 OP issued a notice u/s.13(2) of SARFAESI Act requesting the complainants for repayment of principal amount and interest to the total amount i.e. total amount as on 07-10-2011 of Rs.5,03,656-68.  Thereafter, complainants have not paid the amount and the matter was referred to Lok Adalat and might be there was settlement but no paper was submitted by the complainants and complainants at this stage is stated that they are willing to clear up dues by instalment and it is the case of the complainants that they want to pay the entire dues after settlement and after accepting Rs.4,50,000/- from the complainants the OP Bank has submitted that in the meantime the figure has been increased and now, the total outstanding balance is Rs.7,08,873-95 but anyhow the OP has denied the allegation of the complainants about settlement of the loan accounts on payment of Rs.4,33,000/- by the complainants.  Whatever it may be after considering the entire fact it is found that complainants are no doubt a defaulter and for which the notice under SARFAESI Act was issued but even after that OP Bank has not taken any subsequent step for attaching the property or to sell the property in auction for realization of the arrear dues.  Undisputed fact is that the valuation of the property is very high.  So, in the circumstances considering the entire facts and materials and situation of the complainants we are advising the OP Bank to settle the matter after accepting Rs.5,80,000/- and to settle the entire loan account of the complainants for saving the complainants from his distress and when in so many cases Bank has done it.  So, in the present case the Bank must have to take positive step to settle the matter after accepting Rs.5,80,000/- from the complainants and this order is passing considering the present situation of the complainants and also RBI Guidelines.

Hence,

Ordered

That the case be and the same is allowed on contest against the OP but without any cost.

          OP is advised to settle the two bank loan accounts of the complainants after receiving a sum of Rs.5,80,000/-(Rupees Five lakh eighty thousand only) and complainants shall have to pay that Rs.5,80,000/- within 6 months from the date of this order and invariably within one month.  Complainants shall have to pay Rs.1,80,000/- (Rupees one lakh eighty thousand only) as first instalment then balance amount of Rs.4,00,000/- (Rupees Four lakhs only)  shall be paid by balance 5 (five) months accordingly and OP must not have charged any further interest over the said amount over the 6 months but if complainant fails to clear the dues within 6 months as per order in that case OP Bank shall have his part to proceedings as per rules of the same against the complainants.