Orissa

Jharsuguda

cc/48/2014

Vir Bahadur Sing S/O-Late Virendra Pratrap Singh. - Complainant(s)

Versus

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

P.R.Singh Deo

11 Feb 2015

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA

 

CONSUMER COMPLAINT CASE NO. 48 OF 2014

 

Vir Bahadur Singh (36 Yrs),

S/O- Late Virendra Pratap Singh,

RO: TRL Colony Qr. No.C/63, 

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

                                                 

Versus

 

The Branch Manager,

Magma Fincrop Ltd.,

Sambalpur Branch, Midtown Complex,

B/s. PNB ATM, Deheripali,

Dist: Sambalpur- 768 004, Odisha.………..….…..….…...Opp. Party.

 

 

Counsel for the Parties:-

For the Complainant                        Shri P.R. Singhdeo, Adv. & Associates.

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

 

Date of Order: 11.02.2015

 

Present

                                                                                    1. Shri S.L.Behera, President.

                                                                                    2. Shri S.K. Ojha, Sr. Member.

                                           

 

Shri S. L. Behera, President: - The brief facts of the complainant’s case is that, he has purchased one Ten wheeler Truck bearing Regn. No.OR-23B-4048 which has been financed by the O.P for an amount of Rs.8,25,000/- only excluding interest. The complainant was liable to pay the loan amount in regular EMIs. out of which he has paid  Rs.6,20,000/- only till the date of filing the case. The complainant could not paid some of the installments in time due to some unavoidable circumstances which was not intentional.  The complainant is agreed to pay the balance loan amount along with interest within last due date of finance i.e. 01.05.2015 but the O.P is demanding Rs.53,617/- only illegally towards overdue charges and threating to seize the vehicle.  Due to non-supplying of the true and correct statements of outstanding dues and harassing the complainant the case has been filed for proper adjudication.

 

The O.P. appeared through their counsel after being noticed and submitted that the complainant is a defaulter in making payments of installments. The finance amount of complainant is Rs.16,50,000/- only with interest till the end of agreement i.e. dtd. 28.02.2015 and the total receivable amount of Rs.20,68,275/- only till the expiry of the agreement. The O.P further submitted that there is an arbitration clause in this case and challenging on the maintainability through filing of preliminary objection with denying all the allegations imposed by the complainant, the O.P has prayed for dismissal of the case.

Heard and perused the case record along with materials available.  The O.P raised question on maintainability of the case but failed to file any relevant documents in support of his case but it is not disputed that the complainant has taken financial assistance from the O.P to purchase the vehicle where the complainant is liable to refund the same. The complainant is interested to pay all the dues amount including interest and other charges within the tenure of finance period. 

In the above observation we are in considered opinion to allow partly the complaint case with direction to the O.P to issue afresh statement of accounts in favour of the complainant and receive the outstanding dues amounts regularly from the complainant.

            Accordingly the case is disposed of.

Order pronounced in the open court today the 11^th day of February’ 2015 and copy of this order shall be supplied to the parties as per rule. 

                                                                                I Agree.                                                                                                                          

                                         

                                                                        Sd/-S.K.Ojha, Sr.Member            SD/- S. L. BeheraPresident                 

 

                                             Dictated and corrected by me

 

                                              Sd/- S. L. Behera, President.