C.C. No.92/2021

Subrajit Keshari Nayak,

S/o. Late Niranjan Nayak,

At- Banchhasailo,

P.O.- Nati,

Dist.- Cuttack.                                                            …………. Complainant  

                             (Versus)

Branch Manager,

Muthoot Fincorp Ltd.,

At- Ground Floor, Gandharv Market Complex,

Sanabazar, Deuli Grameswar, Plot No.925,

In front of Jagatsinghpur Bus stand,

P.O./P.S./Dist.- Jagatsinghpur.                               …..… Opposite parties                 

For Opposite Parties………..Mr. A.K. Chaudhury & Associates

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 party to release the gold items on receiving the genuine amount in ten installments or in one time settlement scheme and pay Rs.20,000/- towards cost  and pay compensation Rs.10,000/- towards mental agony”.

            The brief fact of the case is that, the complainant availed three numbers of loans from the opposite party by mortgaging gold ornaments. Due to poor condition on covid period the complainant could not repay the loan amounts in time, hence the opposite party issued a notice to put the said mortgaged gold items into public auction.

            Complainant is absent repeatedly and no supporting documents in respect of loan. The counsel for opposite party Mr. Asit Ku. Chaudhury is present and heard and submitted that relation between complainant and opposite party is that of debtor and creditor and there is no supporting document and the complainant had taken 03 loans bearing Loan A/C No.F3919 of Rs.9,000/- on 29.9.2020, Loan A/C No.F3918 on 29.9.2020 of Rs.1,30,000/- which has not been put to auction as per order dt.29.7.2021 passed in I.A. No.57/2021 (arising out of C.C. No.92/2021), but Loan A/C No.F4038 of Rs.84,200/- dt.12.10.2020 has put to auction.

            Considering the above fact and absence of complainant and non available of supporting documents the auction notice etc. we direct the opposite party to release the gold on payment of entire dues for which 30 days Regd. Notice in respect of Loan A/C No.F3918 & No.F3919 shall be given and on payment of the entire loan amount as per the contract the same shall be released. If the complainant fails to pay the dues within the stipulated period the opposite party is free to auction the gold as per the procedure laid down by RBI and in respect of gold loan A/C No.F4038 we don’t find any merit as the same is already auctioned and no supporting document is available on record. So we are not interfering in respect of said loan. Accordingly the consumer complaint is disposed of. No cost.

Pronounced in the open Commission on this 28^th June,2024