Kerala

Idukki

CC/19/2019

Cejo J - Complainant(s)

Versus

Axis Bank ltd - Opp.Party(s)

16 Nov 2021

ORDER

DATE OF FILING :28/01/2019

IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, IDUKKI

Dated this the 16^th day of November 2021

Present :

SRI.C.SURESHKUMAR PRESIDENT

SMT.ASAMOL P. MEMBER

SRI.AMPADY K.S. MEMBER

CC NO.19/2019

Between

Complainant : Cejo J.Thychery, S/o Josekutty,

Thychery House,

Karikode Kara,

Thodupuzha East – 685 585.

(Adv. Joseph George)

And

Opposite Party : Axix Bank Ltd.,

Asset Sales Centre, 3^rd Floor,

Chicago Plaza, Rajaji Road,

Ernakulam, Kochi- 682 035,

Represented by its Manager.

(By Adv.Paulochan Antony P. and Adv.Liju C.C.)

 

O R D E R

 

SMT. ASAMOL P. (MEMBER)

 

Facts of complaint are as hereunder:-

 

1 . Complainant had availed a loan of Rs.4,55,824/- for purchasing a brand New Hyundai Grand i 10 car from opposite party on 15/12/2016. The entire processing of loan was performed by an authorised agent of opposite party bank at the office of complainant. At the time, agent of opposite party had convinced the complainant that the opposite party does not impose foreclosure charges in early repayment. The rate of interest was 9.66% and EMI amount was 7487/-. The number of instalments was fixed as 84 starting from 01/01/2017.