DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA
CONSUMER COMPLAINT CASE NO. 76 OF 2016
Smt. Dipti Keshar( 35 Years),
W/O: Ajay Keshar,
R/O: Campac Chowk, Lamtibahal,
PS: Brajrajnagar, Dist: Jharsuguda, Odisha.………….…….…..………Complainant.
Versus
Branch Manager,
Magma Finance Corporation Ltd.,
Jharsuguda Branch, Jharsuguda,
PS/ Dist: Jharsuguda, Odisha.…………....……………..…..………….……..Opp. Party.
Counsel for the Parties:-
For the Complainant P.R.M Rao, Adv. & Associates.
For the Opp. Party A.K. Mishra, Adv. & Associates.
Present
Shri Sundar Lal Behera, President
Shri Santosh Kumar Ojha, Member.
Order dated 21.10.2017, Shri S. L. Behera, President
In this case the complainant alleged deficiency in service on the part of O.P finance company. Alleging non-issue of NOC despite payment of entire loan amount. Undisputed fact of this case is that, the complainant avails a loan of Rs. 7,50,000/- only in the month of September, 2011 from the O.P finance company on executing of hire purchaser finance agreement on dtd. 27.09.2011 to be repaid in 45 nos of EMIs @ 10,700/- only within dtd. 20.06.2015, the contact value of Rs.10,42,500/- only. Accounts statement as on dtd. 06.12.2016 despite that the complainant in total has paid a sum of Rs. 10,42,600/- only towards the contact value. It reveals from the said account statement also that, a sum of Rs. 1,46,035.80P only is also outstanding calculated towards OD interest @ 3% in respect to the overdue days of the installment paid.
The O.P finance company claims the said interest amount will be pay by the complainant in order to issuance of NOC on the other hand the complainant claims to have paid the entire loan amount of the contact value within June 2015. Dispute arises here regarding OD interest charged in the statement calculated as on dtd. 06.12.2016 made in the account statement shows that due to 1258 days overdue days the said interest has been charged as per terms and conditions of the Hire Purchase Agreement. Now question arise that whether the said amount of Rs.1,46,000/- only is to be paid by the complainant to obtain NOC of the loan. It is to be noted that, we are not expertise in accounting the entries made in the statement of accounts. However when the document on record and besides undisputed facts when the contact amount of Rs.10,42,500/- only was paid by the complainant and also agreement clause she is entitled to pay OD interest, we are in view the O.P finance company should not insist for payment of said amount rather it should have given her relaxation in payment.
Taking in to consideration of the pattern of payment as well as claim of both the parties and for the end of justice the O.P. finance company is directed to receive a lump sum amount of Rs.30,000/- (Rupees thirty thousand) only and to issue required NOC within one month from the date of receipt of this order. No order as to cost and compensation.
Accordingly the present complaint case is disposed of.
Order pronounced in the open court today the 21st day of October’ 2017 and copy of this order shall be supplied to the parties as per rule.
I Agree.
S.K.Ojha, Member S. L. Behera, President
Dictated and corrected by me
S. L. Behera, President.
