IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, KOTTAYAM
Dated, the 30th day of November, 2023
Present: Sri. Manulal V.S. President
Sri. K.M. Anto, Member
C C No. 186/2023 (Filed on 15/06/2023)
Petitioner : Anitha K.V. (Anitha Sudheesh)
Kizhakkethonduvelil (H)
Thambalakkadu P.O
Ponkunnam - 686506
Vs.
Opposite party : I.C.I.C.I Bank,
Gorund Floor,
Njavallil Complex,
Thambalakkad Road,
Kanjirappalli ,
Kottayam - 686507
O R D E R
Sri. K.M. Anto, Member
The complaint is filed under section 35 of the consumer Protection Act 2019
On 20/06/22 the opposite party’s bank passed a gold loan in favor of the complainant with number 074605000875 on 20/06/22. The gold loan at Ponkunnam SBI branch was transferred to this bank on the assurance that a lower interest rate @ 6.8% will be sanctioned.
When the complainant approached the opposite party for closing the gold loan, it was informed that for closing the gold loan the complainant has to pay an interest at the rate of 14% for 12 months and GST along with Rs.4000/- as service charge. It is interesting to note that the sanctioned amount was Rs.1,32,000/-against the requirement of Rs 1,25,000/-. On enquiry about this, they replied that it is enough to withdraw Rs.1,25,000/- and the rest of the money will be in the account.
A complaint was given to the Branch Manager on 07/02/23, but no response was received so far. This complaint is filed for getting compensation for the deficiency in service on the part of the opposite party. On admission of the complaint, copy of the complaint was served to the opposite party. Even though notice was served to the opposite party, they failed to file their version or to appear before the commission to defend their case. The opposite party was set Exparte.
The complainant filed proof affidavit and marked documents Exhibits A1 to A3.
On the basis of the complaint and evidence on record, we would like to consider the following points.
1 Whether there is deficiency in service on the part of the opposite parties?
2 If so, what are the reliefs and costs?
Points 1 and 2
On going through the complaint and chief affidavit of the complainant it is
evident that the complainant had availed a gold loan from the opposite party on 20/06/2022 vide loan Account number 074605000875.Ext A1 is the summary of accounts issued by the opposite party on 25/01/23. As per Ext A1 the total withdrawals are Rs 1,26,489/- including Rs 1253/- being the Jewel loan charges, Rs 236/- the valuation charges and Rs 1,25,000/-gold loan disbursement. It shows a deposit of Rs 55,000/-and the balance outstanding Rs 71,489/-It is further noted in the margin of Ext A1 that the foreclosure fee amount Rs 13,27/-,Gst amount Rs.238/- accrued interest Rs.8701/-, total outstanding Rs 71489/-. The Total closure amount Rs 81756/-.as on 25/01/2023.
Ext A2 is the copy of the petition given to the branch manager of the opposite party on 07/02/2023 stating that the interest for the gold loan will be only Rs.3957.81 at 6.8% of interest against the interest of Rs 8701 charged by the opposite party.
Ext A3 is the Loan recall notice issued by the opposite party on 05/09/2023 demanding to pay Rs 84,495/- the outstanding amount as on 04/09/2023 for the gold loan amounting to Rs 1,32,000/- issued on 20/06/2022.
The crux of the complaint is that the opposite party had offered 6.8% of interest for the gold loan, but the opposite party had demanded 14% of interest for the total 12 months period of the loan. The complainant failed to adduce any evidence to substantiate this claim with regard to the offer of 6.8% of interest for the gold loan. The complainant even failed to produce the gold loan agreement or the pawn ticket issued by the opposite party at the time of pledging the gold ornaments before this commission.
On going through the evidence adduced by the complainant, it is clear that the complainant failed to prove deficiency in service on the part of the opposite party with cogent evidence and the complaint is liable to be dismissed. The complaint is dismissed.
Pronounced in the Open Commission on this the 30th day of November, 2023
Sri. K.M. Anto, Member Sd/-
Sri. Manulal V.S. President Sd/-
Appendix
Exhibits marked from the side of complainant
A1 – Copy of summary of account as on 25/01/2023 by opposite party
A2 – Copy of letter dtd.07/02/2023 from complainant to opposite party
A3 – Copy of loan recall notice issued by opposite party to complainant
Exhibits marked from the side of opposite party
Nil
By Order
Assistant Registrar
