Kerala

Thiruvananthapuram

CC/380/2022

Sivasankaran Nair - Complainant(s)

Versus

Indus Bank - Opp.Party(s)

05 Aug 2023

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION VAZHUTHACADU THIRUVANANTHAPURAM

 

PRESENT

 

               SRI.P.V.JAYARAJAN           : PRESIDENT

          SMT.PREETHA G NAIR     : MEMBER

           SRI.VIJU.V.R                       : MEMBER

 

CC.NO.380/22 (Filed on : 06/10/2022)

ORDER DATED: 05/08/2023

COMPLAINANT

Sivasankaran Nair.K

SNRA – 114 A,

TC 22/198, Manikanta Vilasam,

Peroorkada.P.O,

Thiruvananthapuram – 695 005

(By Adv.N.G.Mahesh)

VS

OPPOSITE PARTIES

1. The Manager,

IndusInd Bank Limited,

Registered Office at No.2401,

General Thimayya Road,

Cantonment, Pune – 411001

2. The Manager,

IndusInd Bank,

First Floor, Jain Towers,

Varapuzha Road, Ernakulam – 682024

3. The Manager,

IndusInd Bank,

First Floor, Shivashakti Towers,

•  

Thiruvananthapuram – 695 005

(By Adv.Unnikrishnan.V)

ORDER

SRI.P.V.JAYARAJAN      : PRESIDENT

1. This complaint is filed under section 35 of Consumer Protection Act 2019 and stood over to this date for consideration and this Commission passed the following order.

2. This is a complaint filed by the complainant against the opposite parties alleging deficiency in service on the part of the opposite parties. This complaint is in respect of a vehicle loan obtained by the complainant from the opposite parties. After admitting the complaint notice was issued to the opposite parties. The opposite parties entered appearance and filed written version denying the allegations raised by the complainant.

3.       In 22/07/2023, when the case came up for consideration, both the parties submitted that a chance of settlement and hence the matter was referred for mediation. When the case came up for consideration today, both the parties were present and submitted that the matter is settled. A compromise memo signed by both the parties and their respective counsels is also filed before this commission. As per the compromise the complainant has agreed to pay an amount of Rs.6,50,000/- (Rupees six lakh fifty thousand only) to the opposite party on or before 05/11/2023 towards the full and final payment of the loan obtained by him in respect of the vehicle. It is further agreed that on payment of the said amount the opposite parties shall hand over the vehicle in a road worthy condition. It was further agreed between the parties that if the complainant fails to pay the agreed amount on or before 05/11/2023, the opposite parties has got the right to option the said vehicle and make their good claim without further notice to the complainant. The compromise memo dated 05/08/2023 is accepted and recorded. In view of the settlement arrived at between the parties to the proceedings, we find that this is a fit case to be disposed in terms of compromise.

                 In the result, the complaint is disposed of in terms of compromise memo dated 05/08/2023. The compromise memo dated 05/08/2023 shall form part of this order.

                A copy of this order as per the statutory requirements be forwarded to the parties free of charge and thereafter the file be consigned to the record room.

        Dictated to the Confidential Assistant, transcribed by her, corrected by me and pronounced in the Open Commission, this the 5^th day of August 2023.

 

 

                                                                             Sd/-

P.V.JAYARAJAN    : PRESIDENT

                                                                                      Sd/-

        PREETHA G NAIR      : MEMBER

                                                                                        Sd/-

                          VIJU.V.R        : MEMBER

 

 

 

 

 

 

 

Be/