Orissa

Jharsuguda

cc/47/2014

Vir Bahadur Sing S/O-Late Virendra Pratrap Singh. - Complainant(s)

Versus

Cholomandalam Investment &Financ Co.Ltd. - Opp.Party(s)

P.R.Singh Deo

23 Feb 2015

ORDER

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA

 

CONSUMER COMPLAINT CASE NO. 47 OF 2014

 

Vir Bahadur Singh (36 Yrs),

S/O- Late Virendra Pratap Singh,

RO: TRL Colony Qr. No.C/63, 

PO/PS: Belpahar Dist: Jharsuguda,Odisha………….……..………Complainant.

                                                 

Versus

 

The Branch Manager,

Cholamandalam Investment & Finance Co. Ltd.,

Jharsuguda Branch, Priyanka Complex, BTM Chowk,

Dist: Jharsuguda, Odisha.………………………………..….…..….…...Opp. Party.

 

 

Counsel for the Parties:-

For the Complainant                                  Shri P.R. Singhdeo, Adv. & Associates.

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

 

Date of Order: 23.02.2015

 

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 Ten wheeler Truck bearing Regn. No.OR-23B-0176 which has been financed by the O.P for an amount of Rs.8,50,000/- only excluding interest. The complainant was liable to pay the loan amount in regular EMIs. out of which he has paid  Rs.6,70,000/- only till the date of filing the case. The complainant could not paid some of the installments in time due to some unavoidable circumstances which was not intentional.  The complainant is agreed to pay the balance loan amount along with interest within last due date of finance ie. 10.04.2015 but the O.P is demanding Rs.46,482/- only illegally towards overdue charges and threating to seize the vehicle.  Due to non-supplying of the true and correct statements of outstanding dues and harassing the complainant the case has been filed for proper adjudication.

The O.P. appeared through their counsel after being noticed and submitted that the complainant is a defaulter in making payments of installments. The finance amount of complainant is Rs.8,50,000/- only with interest till the end of agreement i.e. dtd. 10.04.2015 and the total receivable amount of Rs.10, 71,000/- only till the expiry of the agreement. The O.P further submitted that there is an outstanding dues of Rs. 1,48,000/- towards EMIs and overdue outstanding of Rs.59,954/- only with that there are 07 nos. of future EMIs amounting to Rs.2,20,500/- only  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.  The O.P issued one Repayment Schedule which reflects that the complainant was liable to pay Rs.10,71,000/- only in total including interest over the finance amount of Rs.8,50,000/- only. As per the Loan account statement filed by the O.P dtd. 17.09.2014, the O.P is liable to be net receivable of Rs.,2,07,954/- only. The said loan account will end on 10.04.2015. 

The complainant is interested to pay all the dues amount including interest and other charges within the tenure of finance period. The finance period will end on dtd.10.04.2015 and the account statement filed by the O.P reflects the outstanding dues upto 17.09.2014.

In the above observation we are in considered opinion to allow partly the complaint case with direction to the O.P to issue afresh statement of accounts in favour of the complainant and receive the outstanding dues amounts regularly from the complainant.

            Accordingly the case is disposed of.

Order pronounced in the open court today the 23^rd day of February’ 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. BeheraPresident                  

                                                                   Dictated and corrected by me

                                                                         S. L. Behera, President.