ORDER BY HON’BLE PRESIDENT- MR. P.K. PADHI:
JUDGMENT
Complainant has filed this consumer complaint U/s.35 of C.P. Act, 2019 seeking following reliefs;
“Direct the opposite parties to issue the loan statement, give opportunity of time for payment of the defaulted installments without fine, not to seized vehicle bearing No.OD-33-T-6864 (three wheeler Auto), wave out penal amount of EMIs or loan account and give chance for repay through one time settlement without any illegal fine and given NOC and pay Rs.50,000/- towards mental agony”.
The brief fact of the case is that, the complainant being a poor man and maintains his livelyhood purchased a three wheeler auto incurring loan from the opposite parties on 27.7.2018 for repay the loan amount through 43 tenure EMIs paid from 05.9.2018 to 05.8.2024. The complainant regularly paid his 26 EMIs as per agreement but due to Covid-19 the vehicle was not moved any where hence the complainant has not paid his monthly to opposite parties. The opposite parties without considering the difficulties without giving any opportunity to the complainant threatened to the complainant for forcibly seizure of the vehicle and ultimately put the same into public auction.
The opposite parties filed written version stating as under;
The complainant in due course approached to opposite parties for availing the requisite finance for the purchase of the vehicle and the opposite parties after proper consideration thereof agreed to finance an amount of Rs.1,98,000/- to the complainant by way of a duly executed a loan agreement on 27.7.2018. But since the repayment track of complainant was not as per agreed terms and conditions of the loan agreement result which the complainant became defaulted. Hence as per the repayment schedule complainant has to pay the total agreement value sum of Rs.4,12,093/- including interest payable from 05.9.2018 to 05.8.2024 in 72 installments as per the repayment schedule. Hence as per the statement of accounts in respect of the vehicle in dispute an amount of Rs.15,174/- is due as calculated on 14.6.2022 and apart from the future payable in the present vehicle contract excluding other charges along with the other dues charges and penalties to be chargeable separately against the complainant, as per the terms and conditions of the loan agreement. Further more if the complainant will make a full and final settlement then he is required to pay Rs.1,80,932.98 paisa towards closure of the loan as per the calculation on 14.6.2022.
Taking into consideration of the fact and circumstances of the case we direct that if the complainant clears the up to date due within 45 days from the date of passing of the order then the opposite parties shall deduct 70% of the OD charges. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.
Pronounced in the open Commission on this 07th July,2023.
