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

                                                                                        JUDGMENT

            Complainant has filed the consumer complaint seeking following reliefs;

            “Direct the opposite parties not to repossess the vehicle bearing Regd. No.OD-04-N-4995, supply a copy of the loan agreement and account statement and to adjust the rate of interest as per the old agreement after deducting the unutilized insurance premium and to deduct the penalty interest and to receive the installment for the loan without adjusting the same in any other charges and to exonerate the complaint from any other unnecessary charges and not to misutilize the blank singed cheques pay f Rs.3,00,000/- towards compensation.”

            Brief fact of the complainant is that, the complainant being an educated and unemployed person had purchased a U-4019TT BSIV in the year 2018 being financed by opposite parties for his livelyhood and maintenance of his family form the earning of the vehicle. The opposite parties finance a vehicle loan of Rs.31,20,000/- which will be repaid in 56 installments @ Rs.1,14,560/- (which includes rentalised insurance and finance charges) for 6 installments and rest @ Rs.94,210/-. Complainant also paid more than Rs.3,50,000/- towards the 1^st year insurance and registration and also paid about Rs.4,00,000/- for structure of body. The complainant used to pay the installments much or less in time and have paid all the installments till October, 2021 and due to Covid-19 pandemics the vehicle could not run properly and even after unlock due to financial crises the vehicle could not be engaged properly and due to prolonged illness and excessive expenditure in repair of the vehicle the complainant could not able to pay some installments in time and have already paid Rs.19,04,659/- till date. Now the opposite parties are threatening the complainant to repossess the vehicle at any time with help of break down service without any settlement.

            Opposite parties have filed their written version stating therein that complainant has multiple vehicle and also co-borrower/guarantor in other vehicle as such complainant is not a consumer as defined U/s.2(7) of Consumer Protection Act, 2019. 

            During course of hearing counsel for complainant submitted that he has already paid considerable amount and ready to pay the dues.

            Keeping in view the submission of the counsel of complainant it is directed that complainant shall pay 50% of pending dues within 03 weeks from the date of passing of the order and pay regular EMI and rest 50% to be paid along with regular EMI in equally divided amount to be divided between the months for repayment. (For example if complainant has to repay the loan within next remaining 20 months of agreement period and 50% of amount is Rs.1,00,000/- then complainant has to pay Rs.5,000/- per month in addition to EMI). If the complainant fails to pay the amount as directed then opposite parties are free to take action as per law. With the aforesaid observation and direction consumer complaint is disposed of. No cost.

            Pronounced in the open Commission on this 23^rd June,2023.