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

                                                                                            JUDGMENT

            Complainant has filed this consumer complaint U/s.12 of C.P. Act, 1986 seeking following reliefs;

            “Direct the opposite parties not to repossess the vehicle bearing No.OD-05-AF-8699 and supply a copy of the loan agreement and account statement and to adjust the unutilized D.P amount with the installments and receive the installment for the loan without adjusting the same in any other charges and to exonerate the complainant any other unnecessary charges and pay Rs.1,00,000/- towards compensation”.

            The brief fact of the case is that, the complainant being an educated and unemployed person had purchased one Truck in the year 2018 being financed by opposite parties for his livelyhood and maintenance of his family from the earning of the vehicle. As per the agreement opposite parties financed Rs.26,15,000/- which would have been repaid in 57 installments @ Rs.69,700/-. The complainant used to pay the installments much or less in time and due to mechanical trouble most part of the income were spend in the repair of the vehicle and due to detention in garage the complainant could not able to pay one installment in time. On 23.5.2018 the opposite parties without serving any notice regarding the outstanding with proper calculation and adjustment wanted to repossess the vehicle where it was parked for some wheel repair, but failed to do so as the vehicle could not be moved without tyre and now threatening the complainant to repossess his vehicle at any time with help of break down service without any settlement, which is clear deficiency of service and monopoly trade practice of opposite parties.   

            Opposite parties filed written version stating as under;

            As per agreement on 31.01.2018 an amount of Rs.26,15,000/-was financed by the opposite parties. The complainant is liable to pay the principal amount along with the contractual interest in 47 installments @ Rs.69,700/- from 05.4.2018 to 05.02.2022. The complainant is a chronic defaulter of the installments which is vivid from the statement of the loan account as the customer has defaulted the EMIs and have bounced 35 numbers of installments and these are due to reason of ‘insufficient funds’ 32 times and 3 time due to ‘refer to drawer’ reason. As per statement of account as on 13.7.2021 there is a total due of Rs.26,62,944/- ( i.e. total EMI dues is Rs.20,20,100/-, OEI Rs.6,23,492/-, CBC Rs.19,352/-) and out of 40 installments there are 36 instances complainant has defaulted the EMIs due to insufficient fund/refer to drawer and paid on latter a few in cash and till date still there is huge EMIs yet to be paid as on date in addition to other charges.

            Both parties are absent since long. Hence we dispose of the consumer complaint that if there is any chance of settlement then complainant may make an application to settle the matter and if opposite parties are satisfied may settle the matter. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.