Date of Filing:17.12.2008<br /> Date of Order:19.02.2009<br /> <br /> <br /> <br /> BEFORE THE II ADDITIONAL DISTRICT CONSUMER DISPUTES REDRESSAL FORUM SESHADRIPURAM BANGALORE-20<br /> <br /> Dated: 19TH DAY OF FEBRUARY 2009<br /> PRESENT<br /> <br /> <br /> <br /> Sri S.S. NAGARALE, B.A, LL.B. (SPL.), President.<br /> Smt. D. LEELAVATHI, M.A.LL.B, Member.<br /> Sri BALAKRISHNA. V. MASALI, B.A, LL.B. (SPL.), Member.<br /> <br /> <br /> COMPLAINT NO: 2728 OF 2008<br /> <br /> <br /> <br /> Umesh Murthy. N,<br /> No. 6, 4th Main Road,<br /> Sree Kanteshwara Nagar,<br /> Nandini Layout Post,<br /> Bangalore 560 096. Complainant<br /> <br /> V/S<br /> Customer Service Head,<br /> Barclays Finance, <br /> 7th Floor, Bonanza, M.V. Road,<br /> Aneheri (E), Mumbai-400 059. Opposite Party<br /> <br /> <br /> ORDER<br /> By the President Sri. S.S. Nagarale<br /> <br /> This is a complaint filed by the complainant stating that, he has availed personal loan from the opposite party Bank on 23/06/2008. The loan taken by the complainant is Rs.3,19,000/-. He had agreed to repay the loan amount in equated monthly installments of Rs.11,027/- p.m. He has been paying the EMI promptly and regularly without any default till the date of filing this complaint. Due to sudden economic crisis the business has fallen down. Due to above reasons he had made representation to opposite party Bank and requested that he may be permitted to pay only interest portion from 01/12/2008 to 01/01/2010. The complainant further assured that, he will start repaying the principle amount and interest from 01/01/2010. Complainant is the customer of opposite party Bank. He has made several requests and demands. Unfortunately, opposite party failed to consider the same. Therefore, the complainant prayed that opposite party Bank be directed to consider the representation given by the complainant positively by permitting to pay only interest portion from 01/12/2008 to 01/01/2010. <br /> 2. Notice was issued to opposite party. Notice served. In spite of service of notice, the opposite party has not appeared before this Forum. Defense version also not sent by post. Therefore, the opposite party has placed exparte. <br /> 3. Complainant has filed affidavit evidence. Arguments are heard.<br /> REASONS<br /> 4. Perused the documents. The complainant had made representation on 15/11/2008 to the opposite party and requested the opposite party to allow him to pay only interest from 01/12/2008 and he will start repaying the principle amount with interest thereon starting from 01/01/2010. Irrespective of the economic trend, he has stated in his letter that the opposite party will understand his problem and consider his representation for rephasing the loan and allow to continue and good and cordial relationship with the Bank. After this representation, the opposite party again sent a legal notice through his Advocate on 22/11/2008. The learned Advocate for the complainant submitted that due to financial constant and sudden economic crisis in the Globe as well as in Indian market, the business activity suffered a lot and the business has fallen down. Therefore, it has become difficult for the complainant to pay equated monthly installments of Rs.11,027/- p.m. The learned Advocate submits that however the complainant is ready and willing to pay interest portion of loan amount regularly as per the rate of interest agreed upon between the parties. The learned Advocate submits that, from December-2008 to January-2010 the complainant will go on paying interest portion on the loan and after January-2010 he will make payment of regular EMI’s which will be inclusive of principle and interest. If the request of the complainant is allowed, no injustice or hardship will be caused to the opposite party. The opposite party will be getting interest on the loan amount. Therefore, it is just, fair and reasonable to permit the complainant to remit only interest portion of the loan amount from 01/12/2008 to 01/01/2010. Complainant is the customer of the opposite party Bank. He has availed the personal loan facility from the opposite party Bank. He has explained his financial difficulties to the Bank also by giving representation. Therefore, the opposite party Bank could have permited or allowed the complainant to remit interest portion only as a customer friendly gesture. A customer is the most important visitor to the premises of financial institution. He is not dependent on the service provider on the other hand the service providers are dependent on him. He is not an interpretation in the work, he is the purpose of it. Consumer Protection Act is a social and benevolent legislation intended to protect the better interest of the consumers. The facts stated by the complainant deserve to be accepted as true and correct. The opposite party has not appeared and contested the matter. It appears that opposite party has no objection to put forth that’s why the opposite party has remained absent. So taking into consideration of all the facts and circumstances of the case and the arguments of the learned Advocate for the complainant it is just, fair and proper to accept the complaint. In the result, I proceed to pass the following:-<br /> ORDER<br /> <br /> 5. The Complaint is allowed. The opposite party is directed to permit the complainant to pay only interest portion on the loan amount from 01/12/2008 to 01/01/2010 and thereafter the complainant shall go on paying regular EMI’s inclusive of principle and interest.<br /> 6. Send the copy of this Order to both the parties free of costs immediately. <br /> 7. Pronounced in the Open Forum on this 19TH DAY OF FEBRUARY 2009. <br /> Order accordingly,<br /> <br /> <br /> PRESIDENT<br /> We concur the above findings.<br /> <br /> <br /> MEMBER MEMBER<br /> Rhr.,<br />