CONSUMER DISPUTES REDRESSAL FORUM,PALAKKAD
Dated this the 26th November, 2014
PRESENT : SMT. SEENA. H, PRESIDENT
: SMT. SHINY. P.R, MEMBER
: SMT. SUMA. K.P, MEMBER Date of filing : 21/11/2013
CC /193/2013
Kannanunni.R,
S/o.M.R.Krishnan,
Aswathi Nilayam, Sakthi Nagar, : Complainant
Kanjikode, Palakkad.
(By Adv.Rajesh.M.Menon )
Vs
Kumaran, Proprietor,
M/s.Sreelakshmi Financiers, : Opposite party
Chilanka Building,
Kannara Street, Palakkad.
(By Adv.A.Nijamudin)
O R D E R
By Smt. Suma. K.P, Member,
Brief case of the complaint :-
The complainant had obtained gold loans from the opposite party institution on 25-10-2011 as per GL No-4446 for an amount of Rs.87,000/- and GL No.4447 for Rs.43,000/- and another GL No.4495 for an amount of Rs.26,500/-. Altogether the complainant had obtained an amount of Rs.1,56,500/- from the opposite party by pledging gold ornaments. The complainant states that the opposite party had granted loan @ 12% per annum and had collected interest without fail for which no receipts were issued from the part of opposite party. The opposite party had issued notice intimating that the ornaments will be sold by way of auction and had also published the auction notice in Manorama Daily dtd.02/11/2013. Hence the complainant approached the opposite party on 19-11-2013 to take back the pledged ornaments, but the opposite party demanded to pay interest @36% for which the complainant was not prepared. Hence the complainant had approached before the Forum seeking an order directing the opposite party to allow the complainant to take back the ornaments by remitting Rs.1,56,500/- with interest @12% per annum along with cost of this proceedings and also with such other reliefs which the complainant seeks in between the proceedings which may deem fit and proper to grant.
Notice in the said complaint was served upon the opposite party and they entered appearance through counsel and filed a detailed version denying all the allegations in the complaint. Opposite party admit that the complainant had obtained gold loans for an amount of Rs.1,56,500/- by way of 3 gold loans. But the opposite party states that interest rate was not fixed as 12% as stated in the complaint. According the Kerala Money Lenders Act & Rules the opposite party is entitled to charge interest @18% per annum. The complainant had agreed upon the said terms and had signed the ledgers kept by the opposite party at the time of obtaining the gold loan. The complainant had not paid any amount toward interest from the date of obtaining loan. Hence no receipts were issued on that basis. Opposite party had denied the statement in the complaint that the opposite party had collected interest every month without fail. The opposite party also denied that the complainant had approached on 19/12/2013 for return of ornaments for which the opposite party demanded 36% interest. The opposite party had issued several reminders to the complainant for remitting the interest or amount for which there was no response from the part of the complainant. At last the opposite party was forced to sent a registered notice on 2/11/2013 and it was returned as unclaimed. The opposite party issued a final auction notice on 4/11/2013 by which the complainant approached the opposite party institution on 19/11/2013 and informed that he wanted to take back the ornaments by paying 12% interest. The opposite party was not prepared to return the ornaments @12%, hence the complainant returned without taking back the ornaments. The next day (i.e on 20/11/2013) complainant again approached opposite party and asked to close the loan account, for which the opposite party demanded 18% interest. The complainant after executing all the necessary documents as per the provisions of Kerala Money Lenders Act & Rules paid the required amount of Rs.2,14,787/- and took back the ornaments pledged by him. Before executing the documents he quarreled with the opposite party stating that he will pay only 12% interest. When the opposite party was not prepared for his demand the complainant paid the required amount and took back the ornaments. While returning he threatened the opposite party that he will teach him a lesson. The complainant is not entitled for any of the reliefs claimed in the complaint, since he had taken back the ornaments and closed the loan account. There is no deficiency of service from the part of the opposite party and the complaint had to be dismissed.
After filing version, by the request of both the parties matter was referred to mediation. After mediation mediator reported that the dispute between the parties was not settled and therefore the file was returned for proper adjudication.
Complainant filed chief affidavit. Opposite parties filed application seeking permission to cross examine the complainant. Application was allowed. At the first instance complainant was present for cross examination. But opposite party counsel seeks time. On the next occasion onwards complainant was absent for cross examination. Opposite party filed chief affidavit as well as documents. Ext.B1-B24 was marked from the part of the opposite party. Evidence was closed and matter was heard. Complainant’s counsel was absent for the last consecutive posting dates and there was no arguments from the complainant’s side.
The following issues are to be considered.
1. Whether there is any deficiency in service from the part of opposite
party?
2. If so, what is the relief and cost?
ISSUES 1 & 2
We had perused the documents as well as the evidence adduced from both sides. As per Ext.B7, B8 & B9 it is evident that the complainant had taken back the ornaments from the opposite party institution on 20/11/2013 by paying required amount @ 18% interest. According to the opposite party they are entitled to collect 18% interest as per the provisions laid down in Kerala Money Lenders Act & Rules. The complainant could not be cross examined since he was not present. Hence an adverse inference can be drawn against him with regard to the interest demanded by the opposite party @ 36%. From the available evidence on record there is nothing to prove that there was deficiency of service on the part of the opposite party. In the light of the above observation we find no merits in the complaint and hence the complaint is dismissed.
Pronounced in the open court on this the 26th day of November 2014
Sd/-
Smt. Seena. H
President
Sd/- Smt. Shiny. P.R
Member
Sd/- Smt. Suma. K.P
Member
A P P E N D I X
Exhibits marked on the side of complainant
Nil -
Exhibits marked on the side of opposite parties
Ext.B1 -H document issued by opposite party to the complainant in Gold Loan.No.4446 dtd.25/10/2011
Ext.B2 -H document issued by opposite party to the complainant in Gold Loan.No.4447 dtd.25/10/2011
Ext.B3 -H document issued by opposite party to the complainant in Gold Loan.No.4495 dtd.22/11/2011
Ext.B4- Bond receipt issued by opposite party to the complainant in Gold Loan.No.4446 dtd.25/10/2011
Ext.B5- Bond receipt issued by opposite party to the complainant in Gold Loan.No.4447 dtd.25/10/2011
Ext.B6- Bond receipt issued by opposite party to the complainant in Gold Loan.No.4495 dtd.22/11/2011
Ext.B7- Duplicate receipt kept by the complainant at the time of closing the gold No.4446 dtd.20/11/2013
Ext.B8- Duplicate receipt kept by the complainant at the time of closing the gold No.4447 dtd.20/11/2013
Ext.B9- Duplicate receipt kept by the complainant at the time of closing the gold No.4495 dtd.20/11/2013
Ext.B10- Registered letter with A/D and receipt send to complainant returned with endorsement intimation served unclaimed in GL No.4446 dtd.21/10/2013
Ext.B11- A/D received by complainant containing signature of the complainant dtd.06/10/2012
Ext.B12- A/D received by complainant containing signature of the complainant for auction dtd.12/11/2013
Ext.B13-Certificate of posting sent to complainant returned unclaimed in GL No.4495 dtd.03/11/2013
Ext.B14 – Ledger extract relating to GL No.4446 & 4447 dtd.20/11/2013
Ext.B15 – Ledger extract relating to GL No.4495 dtd.20/11/2013
Ext.B16- Opening day book relating to GL No.4495 dtd.22/11/2011
Ext.B17- IAC application dtd.30/10/2013
Ext.B18- Auction Form relating GL No.4446, 4447 & 4495 dtd.20/11/2013
Ext.B19- IAC Order dtd.01/11/2013
Ext.B20- Advt. in Newspaper dtd.02/11/2013
Ext.B21- Auction Advt. dtd.02/11/2013
Ext.B22- Day book opening date extract relating to GL No.4446 & 4447 dtd.25/10/2011
Ext.B23- Day book extract closing relating to GL No.4446 dtd.20/11/2013
Ext.B24- Gold Loan release extract relating to GL No.4446, 4447 & 4495
Witness marked on the side of complainant
Nil
Witness examined on the side of opposite parties
Nil
Cost Allowed
No cost allowed.
