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

                                                                                                      JUDGMENT

            Complainant has filed this consumer complaint U/s.35 of C.P. Act, 2019 seeking following reliefs;

            “Direct the opposite parties to realize the arrear EMIs in easy installments and not to repossess the vehicle without imposing penal interest on the defaulted arrear EMIs and supply up-to-date loan statement of account and copy of loan agreement”.

            The brief fact of the case is that, the complainant is an unemployed person and in order to maintain his livelyhood he applied to the opposite parties for availing transport loan for purchase of a truck for transporting goods  and after due observation opposite party No.1 sanctioned the loan of Rs.32,00,000/-. As per terms and conditions of the loan agreement the complainant deposited the EMI regularly but due to Covid-19 pandemic due to non plying the vehicle the complainant could not able to pay the loan installments and defaulted near about five to six installments. The opposite parties demanding payment of the said arrear installments at a time with penal interest otherwise they warned the complainant to repossess the vehicle from the possession of the complainant. 

            Opposite parties filed written version stating as under;

            As per application of complainant and after due verification opposite parties disbursed loan amounting to Rs.26,95,332/- on 12.9.2018 to be repaid in 49 installments along with interest. Installment was fixed at monthly from 01.11.2018 to 01.02.2020 i.e. Rs.68,000/- per month. Due to Covid-19 the EMIO was changed as per the RBI guide lines for which from the month of 1^st June 2020 was it fixed Rs.69,772/- and from 01.9.2020 to 01.4.2023 was fixed Rs.70,976/-. After going through the terms and conditions of the agreement, the complainant put his signature upon the agreement willingly. The complainant has not been making payment as per agreed terms and conditions and the schedule of payment date of EMI. For those 13 EMIs is pending against the complainant as on 20.7.2022 which is amounting Rs.8,74,846/-.

            Counsel for both parties are absent on call on several dates. Admittedly complainant has taken loan from opposite parties and availed service of opposite parties and a consumer as defined U/s.2 (7) of Consumer Protection Act and he has to return the amount in time. We are not informed about the present dues to be paid by complainant. However in order to settle the dispute we direct the complainant to pay 50% within 15 days of passing the order and rest 50% to be paid within 02 months, failing which the opposite parties are free to take any action on the vehicle and complainant as permissible under the rules. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.    

            Pronounced in the open Commission on this 07^th July,2023.