Orissa

Jharsuguda

CC/73/2014

Vikesh Kumar Singh S/O-Sri Janak Kumar Singh - Complainant(s)

Versus

Branch Manager, Sir Ram Equipment Finance Co Ltd - Opp.Party(s)

Abdul Zalil

15 Jul 2015

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA

 

CONSUMER COMPLAINT CASE NO. 73 OF 2014

 

Vikesh Kumar Singh (28 Yrs.),

S/O- Janak Kumar Singh,

R/O: Near Transformer House, PO: Bandhbahal, 

PS: Banharpali, Dist: Jharsuguda,Odisha……………………………Complainant.

     

                                           

Versus

 

1. Branch Manager,

Sri Ram Equipment Finance Co. Ltd.,

At: BTM, PO: Ekatali,

PS/ Dist: Jharsuguda, Odisha.

 

2. Branch Manager,

Sri Ram Equipment Finance Co. Ltd.,

At/PO/PS: Ainthapali,

Dist: Sambalpur, Odisha.

 

3. Regioal Manager,

Sri Ram Equipment Finance Co. Ltd.,

At: Plot No.2862/ 3732, 1^st Foor,

Near Reliance Fresh Lewis Road, Bhubaneswar,

Dist: Khurda, Odisha- Pin-751 002.

 

4. Officer-In-Charge,

Sri Ram Equipment Finance Co. Ltd.

At: 303-306 Sabari Samridi Building,

V.N.Purav Marg, Beside Chembur S.T.Stand,

Maitri Park, Chembur Mumbai(Maharastra)Pin-400 071....….…...Opp. Parties.

 

 

Counsel for the Parties:-

For the Complainant                                  Shri Abdul Zalil, Adv. & Associates.

For the Opp. Parties                                 Shri A.K.Sahoo, Adv. Associates.

 

 

 

Date of Order: 15.07.2015

 

Present

 

                                                                                   1. Shri S.L.Behera, President.

                                                                                   2. Shri S.K. Ojha, Sr. Member.

                                                                                   3. Smt. A. Nanda, Member.

 

 

Shri S. L. Behera, President: - The brief facts of the complainant’s case is that, he has purchased one Tata Trailer LPS 4018 TC bearing Regn. No.OR-23F-6244 which has been financed by the O.Ps for an amount of Rs.38,24,400/- only which the complainant was liable to pay the loan amount in 46 nos. installments started from dtd. 05.10.2012 to 05.07.2016. The complainant has paid Rs.14,53,000/- only till the date of filing.  The said vehicle met with an accident on dtd. 28.03.2014 where the complainant incurred expenditure of Rs.4,00,000/- only and the vehicle remained idle for those days, thus the complainant could not paid few installments as a result the O.Ps. are seized the vehicle and demanding Rs.4,61,967/- only  illegally without supplying any details of accounts, hence this case.

 

The O.Ps. appeared through his counsel after being noticed and submitted his written version wherein it has been stated that the complainant is a defaulter in making payments of installments. The O.P further submitted that the complainant has taken loan of Rs.27,99,000/- only to purchase Tata Trailer LPS 4018 TC  who had outstanding dues of Rs.6,71,967/- only towards installment due and Rs.2,40,771/- only towards overdues charges till the date of filing of filing of version and with denying all the allegations imposed by the complainant, the O.P has prayed for dismissal of the case.

 

Heard and perused the case record along with materials available.

 As per the repayment schedule filed by the complainant the loan started from dtd. 05.10.2012 to 05.07.2016. The 1^st installment was of Rs.89,377/- only and the rests are of Rs.83,000/- only per month.  The account statement filed by the O.ps. dtd. 31.03.2015.  The complainant was liable to pay Rs.6,71,967/- only towards installments due, ODC Rs.2,40,771/- only, Pre-closure penalty Rs.60,118/- only, expenses Rs.50/- only and future principal of Rs.12,02,366/- only.

The O.Ps. have sanctioned loan facility to the complainant to purchase the vehicle, against which the complainant should also repay the same in time but sometimes he fails to do so.  However, the O.Ps. complied the Interim Order passed by this Hon’ble Forum and now the said vehicle is in possession of the complainant which the complainant must repay the outstanding dues in time.

In view of above circumstances, we do not found any merit on the part of complainant, hence we dismiss the case with no costs.

            Accordingly the case is disposed of.

Order pronounced in the open court today the 15^th   day of July’ 2015 and copy of this order shall be supplied to the parties as per rule.

             

                                                     I Agree.                       I Agree,                                                                                                

                                         

                                       S.K.Ojha, Sr.Member        A.Nanda, Member (W)         S. L. Behera President

                

                                      Dictated and corrected by me

 

                                        S. L. Behera, President.