Date of filing : 10-06-2010
Date of order : 27-10-2011
IN THE CONSUMER DISPUTES REDRESSAL FORUM, KASARAGOD
CC. 139/2010
Dated this, the 27th day of October 2011
PRESENT
SRI.K.T.SIDHIQ : PRESIDENT
SMT.P.RAMADEVI : MEMBER
SMT.K.G.BEENA : MEMBER
Mustafa, } Complainant
R.K. House,
Kulangara, Kudlu.Po,
Kasaragod Taluk
(Adv. K.M.Ballakuraya, Kasaragod)
HDFC Bank Ltd, } Opposite party
RAC, 2 floor, SIMAX TOWER,
Vandipatta, Kannnr Road, Calicut
(Adv.A.Radhakrishnan, Hosdurg)
O R D E R
SMT.K.G.BEENA, MEMBER
The grievance of the complainant Sri.Musthaffa is that he has availed 2 loans from Lord Krishna Bank and has been repaying the loan instalments as agreed. Meanwhile the complainant received legal notice demanding the balance due to the above loans and to attend conciliation proceedings. But now the opposite party is claiming more amount than the actual outstanding balance. Hence the complaint for necessary relief.
2. According to opposite party, the complainant has availed a loan of `2,50,000/- and another loan of `50,000/- from Lord Krishna Bank Ltd, Kasaragod branch which later amalgamated with Centurian Bank of Punjab Limited amalgamated with the opposite party Bank. Complainant obtained mortgage loan by way of deposit of title deeds. The complainant is liable to pay the balance instalments with future and penal interest. The complainant filed with malafide intention to escape from the liability.
3. Complainant filed affidavit in lieu of chief examination. Exts A1 and A2 marked. Opposite party also filed affidavit in view of chief examination. Exts B1 to B6 marked. Both sides heard and documents perused.
4. The complainant availed a loan of `2,50,000/- and another loan of `50,000/- from Lord Krishna Bank for completion of construction of his house from Kasaragod branch which is later amalgamated with Centurian Bank of Punjab Ltd which again amalgamated with opposite party Bank. The complainant obtained mortgage loan by way of deposit of title deeds. When the opposite party demanded a huge amount from the complainant, he sent a lawyer notice calling upon to furnish proper and correct details of the amount due. The allegation of the complainant is that after sending the lawyer notice, the opposite party harassed and threatened the complainant that they will arrange goondas for the recovery of the amount. These are emphatically denied by the opposite party. Exts A1 and A2 are genuine documents calling upon the complainant for conciliation proceedings. As per Ext.A1, the total outstanding of the complaint is `2438/- as on1-11-2009. As per Ext.A2 the total outstanding of the complainant `12,848/- as on 1-11-2009 in another loan. If the complainant had taken those loans, it is his duty to repay the instalments in time. As a consumer he has every right to demand statements of accounts of loan account. Opposite party is bound to clear the doubts of their customer. As per the documents produced before the Forum, the complainant had not taken any step to repay the loans after 1-11-2009. As per Ext.A1 and A2, the balance is still pending. That is `15,286/- The complainant himself signed Exts. B4 &B6 and he is legally bound to repay the same. Complainant is ready to repay the same with 9% interest. He is not trying to evade from repaying the loan. One of the allegation of the complainant is that statement of account of his loan is not given to him by opposite party even after repeated requests made by him. As a consumer he has every right to demand statement of accounts of his loan. But opposite party failed to give the same that amounts to deficiency of service on the part of opposite party.
5. Hence we are of the view that opposite party can receive the amount demanded in Ext.A1 and A2 with 9% interest from 1-11-2009 the date of demand notice. They shall return the original title deeds to the complainant soon after receiving the balance amount. After signing the Ext.B1 document on 8-9-2004, RBI has raised Ripo, reverse Ripo rates many times and all banks are raising their interest rates according to the raise in Ripo Reverse Ripo rates of RBI.
In the result, complaint is allowed and opposite party is directed to return the documents of the complainant soon after receiving `15,300/- (Rounded figure) with 9% interest from 1-11-2009 to till date of payment. Time for compliance is 30 days from the date of receipt of this order. If the complainant fails to clear the dues within 30 days receipt of this order then the opposite party can recover the said amount at an enhanced rate of 12% interest per annum from the date of order till recovery.
MEMBER MEMBER PRESIDENT
Exts.
A1. 19-11-2009 lawyer notice.
A2. 19-11-2009 lawyer notice.
B1. Loan Documents. LKB, Grihasthi Home Loan.
B2. Agreement
B3. Take delivery letter
B4. 5-1-05 Demand promissory Note.
B5. Demand Promissory Note
B6. Letter evidencing deposit of title deeds with continuing security clause.
PW1. K.M.Musthafa
DW1. Sojinkumar.
MEMBER MEMBER PRESIDENT
Pj/
