Lokesh(Proprietor) Ashwini Finance Service V/S VT Mohan - Consumer Court Case

Karnataka

Mysore

CD/05/197

VT Mohan - Complainant(s)

Versus

Lokesh(Proprietor) Ashwini Finance Service - Opp.Party(s)

26 Oct 2005

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM MYSORE
No.845, 10th Main, New Kantharaj Urs Road, G.C.S.T. Layout, Kuvempunagar, Mysore - 570 009
consumer case(CC) No. CD/05/197

VT Mohan						...........Appellant(s)
Vs.
Lokesh(Proprietor) Ashwini Finance Service						...........Respondent(s)

BEFORE:

Complainant(s)/Appellant(s):

OppositeParty/Respondent(s):

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ORDER

1.The complaint is allowed with cost of Rs.500/-. 2.O.P.is directed to return the original LIC Policy,pledged by the complainant as security towards the loan of Rs.15000/- taken on 8.7.02 He shall also issue a certificate of discharge of full loan and retuen other documents like pronote or cheques, if any ontained by him. 3.O.P.Shall pay damage of Rs.5000/- and return the documents within a period of one month from the date of receipt of this order. 4.If O.P. fails to do so the complainant is entitled to recover Rs30000/- which is surrender value of such policy with interest @ 9% p.a from such date till payment. 5.O.P.Shall be liable to pay future interest at the rate of 12% p.a. on the amount of damage of Rs.5000/- from such date till the date of payment. 6.Send a copy of this order to O.P.by speed post and give same copy to the Complainant.

1.The complaint is allowed with cost of Rs.500/-. 2.O.P.is directed to return the original LIC Policy,pledged by the complainant as security towards the loan of Rs.15000/- taken on 8.7.02 He shall also issue a certificate of discharge of full loan and retuen other documents like pronote or cheques, if any ontained by him. 3.O.P.Shall pay damage of Rs.5000/- and return the documents within a period of one month from the date of receipt of this order. 4.If O.P. fails to do so the complainant is entitled to recover Rs30000/- which is surrender value of such policy with interest @ 9% p.a from such date till payment. 5.O.P.Shall be liable to pay future interest at the rate of 12% p.a. on the amount of damage of Rs.5000/- from such date till the date of payment. 6.Send a copy of this order to O.P.by speed post and give same copy to the Complainant.