Kerala

Idukki

CC/22/2022

Shaiju N G - Complainant(s)

Versus

Indus Ind Bank Ltd - Opp.Party(s)

13 Feb 2023

ORDER

DATE OF FILING : 27/01/2022

IN THE CONSUMER DISPUTES REDRESSAL COMMISSION, IDUKKI

Dated this the 13^th day of February 2023

Present :

              SRI.C.SURESHKUMAR                                               PRESIDENT

              SMT.ASAMOL P.                                                          MEMBER

              SRI.AMPADY K.S.                                                        MEMBER

CC NO.22/2022

Between

Complainant                                     : 1 .  Shaiju N.G.,

                                                                  Residing at Nedumpurath House,

                                                                  Parathode P.O., Parathode, Konnathadi,

                                                                  Idukki District – 685 571.

                                                             2 . Rajee Shaiju,

                                                                  Residing at Nedumpurath House,

                                                                  Parathode P.O., Parathode, Konnathadi,

                                                                  Idukki District – 685 571.

                                                                   (By Adv.K.B.Selvam)

                                                              And

Opposite Party                             :1 .  Indusind Bank Ltd.,

                                                            Represented by its Branch Manager,

                                                            Indusind Bank Ltd., 2^nd Floor,

                                                            Ponnappala’s Queen Tower, Kallarkutty Road,

                                                             Adimaly P.O., Idukki – 685 561.

                                                        2 . Indusind Bank Ltd.,

                                                             Represented by its Manager (Legal),

                                                             Indusind Bank Ltd., Registered Office

                                                             at New No.34, Old Nos.115 & 116,

                                                             G.N.Chetty Road, T.Nagar, Chennai – 600 017.

 

O R D E R

SMT.ASAMOL P., MEMBER

 

Complainant’s case is briefly discussed hereunder:-

 

1 . First complainant is a taxi driver and he has purchased a Mahindra Bolero Pick Up FB 2WD BS IV vehicle with engine No.TBJIG68561 and Registration   No.KL  06  J 2545.    Total   cost   of   the   said   vehicle   was

(Cont.....2)

-2-

Rs.7,19,600/-.  Out of the total amount the first complainant has paid Rs.1,00,000/-.  On 16/11/2018 opposite parties have sanctioned the loan and disbursed Rs.6,19,600/- (Rupees Six Lakhs Nineteen Thousand and Six Hundred only) with 9% interest per annum payable by 70 monthly instalments.  Second complainant was the surety of the said loan.  First complainant has remitted the instalments for last five years.

2 . As per the agreement between the complainants and opposite parties, first complainant has to re-pay Rs.15,100/- as monthly instalments on 15^th day of every month and last instalment falls due on the 15/08/2024 and every month the first complainant is paid instalment worth Rs.15,100/-.  Thus he has totally paid Rs.3,50,000/- .  Thereafter, the monthly instalments were defaulted.  Because, he was financially down due to flood and Covid-19 circumstances.  So, first complainant could not remit the loan instalment.

3 . Thereafter, first opposite party has sent demand notice for remitting the loan amount.  Subsequently, complainants approached first opposite party and informed that they are willing to re-pay the entire dues amount within 3 months.  But unexpectedly, second opposite party issued arbitration notice to complainants.  Now they are demanding to repay the amount of Rs.7,29,825/- (Rupees Seven Lakh Twenty Nine Thousand Eight Hundred and Twenty Five only) together with interest @ 18% per annum.  The opposite parties are charging exorbitant interest over riding the loan agreement.  Complainants have no objection to repay the actual amount with 9% interest per annum.

4 . Now the opposite parties are trying to take custody of the said vehicle.  It will cause heavy loss and mental agony, and also, as a taxi driver cum-owner of vehicle, 1^st complainant’s life will be in misery without any income.

 

(Cont.....3)

-3-

5 . The loan duration is not yet completed, opposite parties are demanding exorbitant rate of interest demand is illegal.  There is deficiency in service on the part of opposite parties.  Hence they have prayed for the following reliefs.

1 . Opposite parties may be directed to give up exorbitant charges and         exorbitant rate of interest in the loan account and exclude  penal and notice charges.

2 . Also, opposite parties may be directed to pay Rs.5000/- as cost of this petition and Rs.10,000/- as compensation to complainants.

Notice was served to opposite parties from this Commission.  But, opposite parties didn’t appear before this Commission.  No written version filed by opposite parties also.  Hence, the case was posted for complainant’s evidence.  Complainants were continuously absent.  No evidence adduced.  Hence, case was taken for orders.

Complainants have not filed any proof affidavit.  They have produced one demand notice along with the complaint.  They have not adduced any evidence to prove their case.  Opposite parties have neither appeared nor filed written version.  They also have not adduced any evidence.  Now, the points which arise for consideration are:-

1. Whether there is any deficiency in service on the part of opposite parties?
2. Whether complainant is entitled to get reliefs as prayed?

Points are considered together

We have perused the complaint and demand notice which was produced along with complaint.  The only allegation of complainants is that opposite parties have  demanded  exorbitant  interest  and  penal  charges  

(Cont.....4)

-4-

under  the demand notice and this is deficiency in service on their part.    Complainants have not adduced any evidence.  It is to prove that the demanded interest and charges by opposite parties are exorbitant.  No agreement was produced between complainants and opposite parties which shows that how much interest rate was fixed for loan amount at the time of availing it.  Also, there is no evidence about how much amount was repaid to the loan account by complainants.  Hence we cannot ascertain that either opposite parties demanded exorbitant interest and penal charges or complainant has paid it.  Hence, deficiency in service on the part of opposite parties is not proved.  Hence complaint is dismissed without cost.

Extra copies to be taken back by parties without delay.

 

 Pronounced by this Commission on this the  13^th day of February, 2023.

 

                                                                                       Sd/-                                                                               

                                                                                SMT.ASAMOL P., MEMBER                                                                                                                 

                                                                                                Sd/-

                                                                        SRI.C.SURESHKUMAR, PRESIDENT                                                                                                    

                                                                                                Sd/-

                                                                               SRI.AMPADY K.S., MEMBER

   

APPENDIX

Nil

             

 

                                                                                            Forwarded by Order  

 

 

                                                                                      ASSISTANT REGISTRAR