DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION: BHADRAK : (ODISHA).
Consumer Complaint No. 82 of 2022.
Date of hearing : 28.05.2024.
Date of order : 16.07.2024.
Dated the 16th July, 2024.
Sri Maheswar Das, S/o:-Jogendra Das,
At/Po/P.S:- Bonth, Dist:-Bhadrak. ...........Complainant.
(Versus)
- The Branch Manager, ICICI Bank Ltd.,
Bhadrak Branch, At:-Dahanigadia, Po:- Charampa,
P.S:- Bhadrak (T), Dist:- Bhadrak-756100.
- I.C.I.C.I. Bank Limited, ICICI Phone Banking Centre,
ICICI Bank Tower, 7th Floor, Survey No.115/27,
Plot No.12, Nanakramguda, Serilingampally,
Hyderabad, Pin-500032.
- The Chairman & Managing Director, ICICI Bank Ltd.,
ICICI Tower, Near Chakli Circle, Old Padra Road,
Vadodara, Pin-390007. ……… Opp. Parties.
P R E S E N T S.
1. Sri Shiba Prasad Mohanty, President,
2. Smt. Madhusmita Swain, Member.
Counsels appeared for the parties.
Counsel for Complainant : Sri R.K. Nayak, Advocate& Associates,
Counsel for Opp. Parties : Sri L.D Nayak, Advocate & Associates.
J U D G M E N T.
SRI SHIBA PRASAD MOHANTY, PRESIDENT.
In the matter of an application filed by the complainant alleging deficiency of service against the Opposite Parties under Consumer Protection Act, 2019.
A fact of the case is that, the complainant has been sanctioned with a loan of Rs.6,31,177/- by these OPs but only disbursed loan amount of Rs.1,77,000/- to the account of complainant. There is also a condition that the complainant will submit 14 Nos. of blank cheques of a nationalized bank putting his signature without giving any specific date as a security for the aforesaid advance. Accordingly, the complainant also handed over 14 Nos. of blank cheques of State Bank of India by putting his signature without filling up or giving any specific date for the same. The complainant was called at its Bhadrak Office, where the O.P.1 Branch Manager took signatures of the complainant on several blank & printed formats. The complainant made a formal loan agreement with the O.Ps bearing Loan Agreement No. LPBHK00045140942. Due to non-release of the balance amount of Rs.4,54,177/- the complainant could not be able to meet the market demand and hence could not generate any income thereby causing serious loss in his business and the very purpose of availing the loan has been vitiated. Since then the complainant has been in acute financial crises & therefore could not be able to repay the loan amount as demanded. Due to step motherly attitude of O.Ps Bank in not providing balance amount the complainant has faced financial loss. The complainant requested the O.Ps to provide Loan Agreement No.LPBHK00045140942 & repayment schedule but in spite of repeated reminders, requests, telephonic messages & personal discussions the copy of loan agreement, repayment schedule & statement of account has not yet been supplied to the complainant which amounts to deficiency of service. On 19.07.2022 complainant received a pleader notice from the counsel of the O.Ps who demanded the amount of Rs.6,31,177/-. After receiving the notice the complainant met O.P.1 & requested to provide the loan agreement, payment schedule & statement of account who replied to the complainant don’t worry about the matter. On 08.08.2022 the complainant made a representation called upon the O.P.2 to provide the aforesaid documents. After receiving the same the O.P.2 put a deaf ear to the genuine grievance of the complainant & till yet has not provided the same. Since then the complainant has been running to the office of the O.Ps several times. The complainant never committed any willful default or negligence in performance of his contractual obligation. In other hand a serious responsibility under law cast against the O.Ps but no effective steps have yet been made which amounts to deficiency in service on the part of O.Ps. For the deficiency of service the complainant has sustained a loss & facing mental agony. The complainant prays for a direction to the OPs to disburse 12% interest for balance amount of Rs.4,54,117/- from the date of sanction of loan till actual payment to the complainant. The complainant has filed the documents i.e. 1) Copy of Pleader Notice/Representation etc.
The O.Ps submit that, the O.P. Bank received an application for personal loan from the complainant which was duly filled and signed along with the requisite documents which were also self-attested. Accordingly, loan application of complainant was processed and an amount of Rs.6,90,000/- was sanctioned in his favour on 14.01.2022 at 10.75% per annum @ interest for a tenure of 24 months. Consequently, he was informed about the loan amount of Rs.6,90,000/- along with all the terms & conditions of his loan account to which he agreed. The complainant executed the Loan Agreement and submitted Most Important Information (MII), Insurance Proposal & Balance Transfer forms of the loan vide Loan Account No.LPBHK00045140942. The balance from the sanctioned amount amounting to Rs. 5,06,752/- in shape of a Demand Draft bearing No.397862, dtd.14.01.2022 was handed over to OPS Direct selling Agent M/S Deserving Capital Pvt. Ltd. But the complainant has not made him a party in this case. The said Direct Selling Agent of the OPs, returned the said DD during October 2022. The OPs have transferred Rs.1,77,349.18 Paisa to his SBI Savings account after deducting processing fees of Rs.5,898.82 Paisa. On 06.01.2023 the loan account of the complainant maintained by the O.P. Bank in their regular course of business shows an outstanding of Rs.1,00,960/-. The O.P. Bank has never rendered any deficiency in service instead it has acted in terms of the loan agreement. The O.P. Bank has taken all due diligence, care & caution to help the complainant to settle said loan account. But it is the complainant who has shown his reluctance in responding to the O.P. Bank’s call to settle said loan account. The O.Ps have relied the documents i.e. 1) Copy of D.D. No.397862, dtd.14.01.2022 of Rs.5,06,752/- (Annex-A), 2) Statement of Account & Repayment Schedules dtd.10.10.2022 of Loan A/c No.LPBHK00045140942, (Annex-B), 3) Demand Legal Notices dtd.06.06.2022 & 24.08.2022 & Loan Recall Notice dtd.30.09.2022 (Annex-C),4) Application ‘Form (Annex-D), 5) Loan Account Statement & Repayment Schedule dtd.18.11.2022 (Annex-E).
Having heard the rival contentions and after careful consideration of materials available in the case record, this commission is of the opinion that the It is irrelevant whether the complainant has made the direct selling agent of the OP Bank a party or not ! Admittedly, the OP Bank has sanctioned the loan of Rs.6,90,000/- in favour of the complainant on 14.01.2022 at 10.75% per annum @ interest for a tenure of 24 months. It has also transferred Rs.1,77,349.18 to Savings account of complainant after deducting processing fees of Rs.5,898.82. Thereafter, it has handed over a Demand Draft of Rs.5,06,752/- bearing No.397862, dtd.14.01.2022 to its Direct selling Agent M/S Deserving Capital Pvt. Ltd and that the Direct Selling Agent returned them the draft in October 2022 instead of paying that to the complainant. OP Bank is responsible for the acts and omissions of its direct selling agent. It was the bounden duty of the OP Bank to ensure whether the applicant was in receipt of the balance of the loan amount. In general parlance people seek a specific amount of loan having specific objectives in mind. If a part only of the loan is disbursed and the balance of the loan is not disbursed, then the very purpose of taking a loan would be frustrated. The OP Bank has committed negligence and deficiency in providing service to the complainant even after taking a hefty loan processing fees.
During the course of the hearing the complainant expressed his disinterestedness to take any further loan from the OP Bank. The complainant has filed an account statement wherein it is revealed that he has repaid Rs.32,042/- on 10/03/2022, Rs.32,042/- on 30/03/2022 and Rs.32,042/- on 06/05/2022 to the OP Bank. The OP Bank has disbursed on Rs.1,77,349.18. As per the terms of the loan agreement, the OP Bank is entitled to get 10.75% interest over Rs.1,77,349.18. But the complainant has executed the loan agreement on the bonafide belief that the balance of the loan amount would be credited to his account. Hence, the terms of the agreement would not be binding upon the complainant. So, the OP Bank is not entitled to get any interest over the amount. The complainant has already repaid Rs.96,120/- and rest amount of Rs.81,229.19 he shall pay to the OP Bank. The OP Bank is required to compensate the complainant for its negligence and deficiency in service along with cost of litigation.
O R D E R.
In the result, the complaint be & same is partly allowed. The O.Ps are directed to pay Rs.20,000/- towards compensation for the harassment and mental agony and another Rs.5,000/- towards cost of the litigation. The total amount of Rs.25,000/- shall be deducted from the amount payable by the complainant to these OPs i.e. Rs.81229.00- Rs.25,000.00= Rs.56,229.00; which the complainant shall pay to the O.Ps within 60 days from the date of pronouncement of this order and after receipt of the aforesaid amount the OP Bank shall issue “No Dues Certificate” against the loan within 30 days from the date of receipt of the amount.
This order is pronounced in the Open Court on this the 16th day of July 2024 under my hand and seal of the Commission.
