Orissa

Jagatsinghapur

CC/113/2022

Naresh Das - Complainant(s)

Versus

Branch Manager Muthoot finance ltd. - Opp.Party(s)

Mr.N.C.Barik

28 Sep 2022

ORDER

                                                                                               JUDGMENT

 

            Complainant sanctioned loan Rs.1,75,000/- RGL-1858 on 05.3.2021, Rs.35,600/- RGL-2076 on 24.3.2021, Rs.1,10,000/- RGL-1984 on 17.3.2021 and Rs.69,700/- MUL-13694 on 05.3.2021 from Jagatsinghpur Branch for one year. Due to financial constrain complainant could not pay the EMI and interest due to Covid-19. Opposite party issue notice for auction of the gold ornaments in public process on 18.5.2022. On get the said notice complainant made application for repayment of his loan subject to exempting of penal interest. But the opposite party did not accept the prayer of complainant and threatening to sale the ornaments in public auction.

            This Commission vide order dtd.17.5.2022 is directed as under;

            “Heard the Advocate for complainant on the petition filed U/s.38 (8). Perused the documents available on record supported with affidavit.  It is found that the complainant has a primafacie case against the opposite party. Issue notice to the opposite party to file objection if any. However considering the facts and circumstances of the case the opposite party is directed not to put the gold ornaments pledged before it to public auction and not to take any coercive step against the complainant in respect of his loan accounts vide Nos.RGL-1858, RGL-2076, RGL-1984 & MUL-13694 till dt.03.6.2022.”

            Opposite party submitted that, so far the complainant has not paid a single pie against the all loans.

            Considering the submission of both sides and taking into consideration the financial condition of the complainant, we direct to opposite party to waive out the penal interest and complainant is directed to pay all pending dues in six monthly equal installments. If the complainant fails to pay the installments from November, 2022 to April, 2023, the opposite party may take action as per law. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.

           

            Pronounced in the open Commission on this 28^th Sept., 2022.