DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA
CONSUMER COMPLAINT CASE NO. 47 OF 2017
Tarik Ahmed (30 Years),
S/O- Eklakh Ahmed,
R/O: Gumadera,PO/PS: Belpahar,
Dist: Jharsuguda, Odisha……………………………………….…….…………Complainant.
Versus
- Branch Manager, Magma Fincorp Ltd.,
At: Main Road,Beheramal Chowk,Jharsuguda,
PO/PS/Dist: Jharsuguda, Odisha- Pin-768 201.
- Officer-In-Charge, Magma Fincorp Ltd.,
At: Regd Office: 24 Park Street,
Kolkata, West Bengal-700 0161…………………………..…..….……..Opp. Parties.
Counsel for the Parties:-
For the Complainant Sri Abdul Zalil, Adv. & Associates.
For the Opp. Parties Sri A.K.Mishra, Adv. & Associates.
Present-Shri Sundarlal Behera, President, Shri Santosh Kumar Ojha, Member, Smt. Anamika Nanda, Member(W).
Order dated 13.09.2017, Shri Sundarlal Behera, President.
The brief facts of the complainant’s case is that, the complainant availed loan of Rs.6,04,362/- only from the O.Ps. and purchased one ten wheeler truck bearing Regn. No.OR-23C-4964 which the complainant was liable to pay the loan amount with interest amounting Rs.9,71,490/- only in 47 nos. of monthly installments started from dtd. 10.08.2013 to 09.06.2017. The complainant was paying the monthly installments regularly. The complainant has paid Rs. 9,65,690/- only upto dated 13.01.2017. The O.Ps are demanding Rs.1,18,397/- only as over due interest without giving any calculation and threatening to seize the vehicle , hence the complainant filed this case.
The O.Ps. appeared through their counsel after being noticed and file written version wherein it has been stated that the complainant is a defaulter in making payments of installments. The complainant has availed loan of Rs.6,04,362/- which was to be paid with interest of Rs. 3,67,128/- and in total Rs. 9,71,490/- only in 47 nos. of monthly EMIs. started from 10.08.2013 to 10.06.2017. The O.P further submitted that the loan agreement vide no. PG/ 0195/ R/ 12/ 000022 contains an arbitration clause. An arbitral award has already been passed on dtd. 18.06.2016 so the consumer fora has no power to decide this complaint petition and filed several citations of Hon’ble National CDR Commission and the case is liable to be dismissed.
Heard and perused the case record along with materials available. The complainant was financed a vehicle bearing Regn. No.OR-23C-4964 by the O.Ps for an amount of Rs.6,04,362/- only excluding interest which was to be refunded in 47 numbers of monthly installments started from 10.08.2013 to 10.06.2017. An arbitral award has been passed against the complainant on dtd.18.06.2016 where the complainant filed this case on dtd. 07.04.2017. As per the accounts details mentioned by O.Ps. in written version, the complainant was to pay Rs.4,69,427/- only in total including arbitral award and various charges and interest.
As an arbitral award has been passed on the same dispute prior to filing of the complaint case by the complainant, this Hon’ble Forum bind its hands on deciding the same dispute, hence the complaint case is hereby dismissed with no cost.
Accordingly the present case is disposed of.
Order pronounced in the open court today the 13th day of September’ 2017. Free copy of this order shall be supplied to the parties as per rule.
I Agree. I Agree.
- Nanda, Member( W) S.K.Ojha, Member S. L. Behera, President
Dictated and corrected by me
S. L. Behera, President.
