West Bengal

Bankura

CC/18/2022

Smt. Mantu Bauri - Complainant(s)

Versus

Mahindra & Mahindra Financial Services Limited - Opp.Party(s)

07 Feb 2023

ORDER

     IN    THE   DISTRICT   CONSUMER   DISPUTES   REDRESSAL COMMISSION BANKURA

Consumer  Complaint  No. 18/2022

Date of Filing : 30-06-2022

Before:

1. Samiran Dutta                              Ld. President.      

2. Rina Mukherjee                          Ld. Member. 

3. Siddhartha Sankar Bhui            Ld. Member.

For the Complainant:  Ld Advocate Jayanta Kumar Mukhopadhyay

For the O.P. Ld Advocate Nilanjan Dasgupta

Complainant   

Smt Mantu Bauri, Vill Santore, Garh Kotalpur, Onda, Bankura

Opposite Party          

Mahindra & Mahindra Financial Services Ltd., Jhapar  more, Bishnupur, Bankura

 

FINAL ORDER / JUDGEMENT    

                                                                                                                                                      

Order No.07

Dated:07-02-2023

Both parties filed hazira through Advocate.

The case is fixed for argument.

Written argument is filed on behalf of the O.P.

After hearing arguments from both sides the Commission proceeds to dispose of the case as hereunder: -

The complainant purchased a Tractor No. being WB 68 W/7713 with the financial loan from the O.P. at EMI of Rs.15,750/-. The complainant has paid all the installments and N.O.C. has been issued by the O.P. accordingly. But the O.P. is found to have deducted five installments @ Rs.20,789/- instead of Rs.15,750/- during the  moratorium period from April to August, 2020 and thus an excess amount of Rs.25,195/- has been deducted from the Account of the complainant which the O.P. is liable to refund according to RBI guidelines and the direction of the Hon’ble Supreme Court.  Hence this case.

                                                                                                                                                                                           Contd…..p/2

Page: 2

The O.P. contested the case by filing a written version admitting the aforesaid deduction of EMI, contending inter alia that no excess payment has been deducted violating any RBI guidelines or direction of the Hon’ble Supreme Court.

The Commission has gone through the entire facts of the case and respective submissions and contentions on both sides including documents. Admittedly EMI was all along Rs.15,750/- but during the moratorium period from April to August, 2020 EMI has been deducted at Rs.20,789/- in place of Rs.15,750/- and thereby an excess amount of Rs.25,195/- has been deducted as interest for those five months.

It is well known that during COVID 19 period the Apex Court in Writ Petition (Civil) 476/20 passed an order on 23-03-2021 to the effect that there shall not be any charge of interest/compound interest/penal interest during moratorium period i.e. March, 2020 to August, 2020 and the amount already recovered shall be refunded to the concerned borrower and to be given/credited/adjusted with the next installment of loan amount.

Accordingly RBI by two circulars dated: 27-03-2020 and dated: 23-05-2020 implemented the aforesaid order of the Apex Court by giving relief to the borrowers to that extent.

The O.P. is either ignorant of RBI guidelines or the decision of the Apex Court or intentionally deducted EMI by charging the undue interest in violation of the aforesaid guidelines and decisions. Be that as may be the O.P. is now liable to refund the excess amount of Rs.25,195/- in favour of the complainant.

The case therefore succeeds.

Hence it is ordered…….

That the case be and the same is allowed on contest against the O.P.

The O.P. is directed to pay to the complainant Rs.25,195/- within one month from this date in default the decretal amount may be realized in due process of law.

Both parties be supplied copy of this Order free of cost.                                                                                     

 

____________________                               _________________                    _________________

HON’BLE   PRESIDENT                        HON’BLE MEMBER                 HON’BLE MEMBER