Orissa

Jharsuguda

CC/78/2014

Krishna Singh S/O-Late Jabahar Singh - Complainant(s)

Versus

BM Magma Finance Co Ltd, - Opp.Party(s)

Abdul Zalil

09 Sep 2015

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA

 

CONSUMER COMPLAINT CASE NO. 78 OF 2014

 

Krishna Singh (39 Yrs.),

S/O- Late Jabahar Singh,

RO: Gumadera, 

PO/PS: Belpahar, Dist: Jharsuguda,Odisha………….………………Complainant.

     

                                           

Versus

 

1. Branch Manager,

Magma Fincorp Ltd.,

At: Main Road,Beheramal Chowk,Jharsuguda,

PO/ PS/ Dist: Jharsuguda, Odisha.

 

2. Officer-In-Charge,

Magma Fincorp Ltd.,

At: Regd. Office, 24, Park Street,

Kokata (West Bengal)………………...………………………..Opp. Parties.

 

Counsel for the Parties:-

For the Complainant                                  Shri Abdul Zalil, Adv. & Associates.

For the Opp. Party                                   Shri A.K.Sahoo, Adv. Associates.

 

Date of Order: 09.09.2015

 

Present

 

                                                                                1. Shri S.L.Behera, President.

                                                                                2. Smt. A. Nanda, Member.

 

Smt. A.Nanda, Member ( W) : - The brief facts of the case is that, the complainant has purchased one vehicle bearing Regn. No.OR-15R-6695 which has been financed by the O.P for an amount of Rs.13,68,000/- only which the complainant was liable to pay the loan amount with interest in 35 nos. of  installments. The complainant has paid Rs.17,43,680/- only as on dt.10.09.2014, but due to some unavoidable reasons he could not paid some of the installments in time but the O.P is demanding more money illegally and threatening to seize the vehicle without supplying the correct statement of accounts, hence this case.

 

The O.Ps. appeared through their counsel after being noticed and submitted his written version wherein it has been stated that the complainant is a defaulter in making payments of installments. The O.Ps. further submitted that the complainant has taken loan of Rs.13,68,000/- only vide customer proposal No. PG/0195/V/10/000029 and agreement code No. HO/G/0195/10/000118.  The O.Ps further submitted that the complaint is not maintainable as the loan agreement content the clause of arbitration where all the dispute, differences, claims and questions whatsoever arising out of the said agreement shall be referred to the sole arbitrator.  Dispute between the parties was referred to the learned arbitrator and learned arbitrator vide its order dtd. 24.11.2014 awarded a sum of Rs. 3,00,302/- only in favour of the O.P. and with denying all the allegations imposed by the complainant, the O.P has prayed for dismissal of the case.

On perusal of the complaint petition and written version files by the parties and after heard from concerned counsels for the parties.  It is not disputed that the complainant has availed finance facilities to purchase a vehicle from the O.Ps wherein as per the agreement made between the parties the finance amount was to be repaid within a specified term as per the EMIs. fixed in the agreement.  In this complaint, the complainant claims to have paid the amount agreed by him regularly but the O.P. claim the complainant is a chronic defaulter who is having lacs of rupees outstanding, what appears to us, after going through the entire evidence on record, this is a case relating to loan matter also dispute arises in accounting the amount in statement of the account and non-payment of installment dues along with OD charges by the complainant.

We do not considered to go into deep into the accounting procedure especially when dispute in account has been arose.

In view of the above discussion and observation the complaint petition is dismissed without any cost, with a liberty to the complainant to seek his redressal if any before the civil court having jurisdiction to entertain the same.

            Accordingly the case is disposed of.

Order pronounced in the open court today the 9^th day of September’ 2015 and copy of this order shall be supplied to the parties as per rule.

                                                      I Agree.                                                                                               

                                         

                                              S. L. Behera President                         A.Nanda, Member (W)                                                         

                                  Dictated and corrected by me

 

                                A.Nanda, Member (W)