JUDGMENT
Complainant has filed this consumer complaint U/s.12 of C.P. Act, 1986 seeking following reliefs;
“Direct the opposite party to waive out the target leveled against complainant and not to operate the LIC Bond deposited before the opposite party as mortgage and further a sum of Rs.5,000/- towards mental agony and deficiency of services”.
The brief fact of the complainant is that, the complainant is an unemployed youth and is the only earning member of his family save and except the income derived from the agricultural some how the family was maintained. For aik out of the livelyhood and the better maintenance of the family the complainant in the year 2008 approached before the opposite party for financial assistance, the Branch Manager asked for the required documents for mortgage and the complainant agreed to provide the mortgage documents i.e. LIC Bonds and other papers. After proper documentation bank has sanction a sum of Rs.2,50,000/- under Central Kissan Credit Card vide loan account No.2087000890. Due to natural calamities like Phyline and HUD HUD the entire crops of the said session was completely washed away. The house of complainant is very close to sea belt and worst affected during the natural calamities like Phyline etc. Narrating the loss sustained in the natural calamities the complainant brought to the notice of the opposite party and also paid his inability to clear the installments and requested the opposite party to exonerate him by receiving some of the loan dues due to the above facts and for that complainant wrote many letters to opposite party but no result. The opposite party issued a letter on 02.9.2016 stating therein that “Your loan account No.2087000890 type Central Kissan Credit Card is having an over dues of Rs.1,15,357/- (+ applicable interest if any) and directed to pay the overdue amount within seven days. These actions clearly shows the monopoly and highhandedness of the opposite party.
The opposite party filed written version stating as under;
The complainant is not a consumer within the meaning of section-2(1) (d) of the Consumer Protection Act and the transaction between the parties does not fall within the scope of ambit of section- 2(1) (c) of the Consumer Protection Act and the opposite party bank has never render any irregularity to bring down a prima facie case either under section- 2 (1) (g) or section- 2(1) (r) of the Act. If the complainant had any grievances against the bank, he would have approach banking ombudsman, lokpal, instead of the same, the complainant has approached the Hon’ble Forum impleading opposite party without knowing the definition of deficiency of service. Moreover, the Consumer Forum has no jurisdiction to entertain the complaint concerning the loan matter. The opposite party Bank is entitled for recovery of bank due in legal ways. In the case of a Reported decision in case of M/s. Magma Fincorp Ltd. Vrs. Rabi Ranjan Kumar (2017) (91) CPR 612 (NC) it is has been held that, “once a loan is advanced by any financial institution to a borrower, it is their legal right to recover their money in accordance with the terms and conditions governing grant of loan”. In the related loan account of the complainant, there is due and outstanding of Rs.2,81,379.34 interest being calculated up to 31.3.2018 which the complainant is liable to pay the same with interest till closing of loan account and the direction be given by the Hon’ble Forum to the complainant to pay the same forthwith. Otherwise the bank will adjust the product in LIC Bonds deposited by complainant as security and bank will take legal action for recovery of balance amount of loan till closing of loan account.
The complainant has availed the loan pledging his LIC Bond and land records as collateral security. The bank has every right to recover it’s amount from the loanee. There is no deficiency of service on the part of opposite party for which this Commission has no jurisdiction to entertain the consumer complaint. The complainant may approach the appropriate Forum for redressal of his grievance. Accordingly the consumer complaint is dismissed. No cost.
