C.C. No.220/2023

Pramila Sahoo,

W/o. Pratap Kumar Sahoo,

Vill.- Brundaban Colony,

Ward No.8, Belt Line, Plot No.1,

P.O.- Madhuban, Paradeep,

Dist.- Jagatsinghpur.                                                  …………. Complainant  

                             (Versus)

1. Branch Manager,

Cuttack Central Co-operative Bank,

Paradeep Branch,

At- Bank Street, Madhuban, Paradeep,

Dist.- Jagatsinghpur.

2. Secretary/ C.O.,

Cuttack Central Co-opposite Bank Ltd.,

Nimchouri, Cuttack- 753002.…..… Opposite parties

For Complainant………..Mr. A. Parida & Associates

For Opposite Parties………..Mr. L.M. Nanda & Associates

ORDER BY HON’BLE PRESIDENT- MR. P.K. PADHI:

                                                                                        JUDGMENT

            Complainant has filed the consumer complaint U/s.35 of C.P. Act, 2019 seeking following reliefs;

            “Direct the opposite parties to settle the loan amount by way of OTS scheme with taking account the poor condition and also taking the amount paid by complainant previously and pay compensation Rs.1,50,000/- towards mental agony and harassment and Rs.20,000/- towards cost of litigation”.

            The brief fact of the case is that, the complainant availed a loan from opposite parties of Rs.1,00,000/- on 14.3.2016 for opening a grocery shop. After sanction of the loan amount the authority deducted Rs.10,000/- towards share money of the loanee. The bank kept two LIC Bonds of Rs.1,00,000/- as bank security. In spite of her poor condition she repaid her installments in time. Due to Corona/ Covid-19 pandemic period the poor complainant unable to run her business smoothly. So her business unit sustained loss and was stopped. Then she informed the opposite parties regarding the loss of the unit and requested the bank to settle the loan amount in one time settlement. But the opposite parties did not take any action for OTS, rather the opposite party No.1 on 03.6.2023 issued a letter demanding Rs.1,06,776/- as on dt.02.6.2023 and all so threatened to surrender the LIC Policy before authority for collection the amount along with legal action as per OCS Act and Rule. 

            Opposite parties have field their written version objecting the prayer and counsel for opposite parties vehemently opposed that there is no provision of OTS and once the loan has been taken the same shall be repaid by the loanee i.e. the complainant and she is bound by the terms and agreement/contract.

            Relationship between complainant and opposite parties is that of Debtor and Creditor. The complainant wants to clear the loan and due to Covid-19 she was defaulter of loan and could not pay the loan in time.

Since both parties are not disputing and wants to settle the dispute, we direct the complainant to make an application to opposite party No.2 for settlement of the loan and the opposite party No.2 is directed to settle the loan and in case the entire loan is cleared within 15 days of settlement then 2/3^rd of overdue interest/additional interest shall be deducted by opposite party No.2 and benefits if any for closing the loan to customer/consumer/loanee shall be given by opposite parties. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.   

            Pronounced in the open Commission on this 18^th Sept.,2024.