C.C. No.08/2021

Golak Bihari Sethy,

S/o. Harihar Sethy,

Vill.- Kathagada,

P.O.- Bhutmundai,

P.S.- Paradeep Lock,

Dist.- Jagatsinghpur.                                                   ..…….  Complainant

                               (Versus)

1. Branch Manager,

Indusind Bank Ltd.,

Consumer Finance Division,

Paradeep Branch,

At/P.O./P.S.- Paradeep,

Dist.- Jagatsinghpur.

2. Zonal Manager,

Indusind Bank ltd.,

Consumer Finance Division,

Nayapalli, Bhubaneswar,

Dist.- Khurda- 751015.…..… Opposite parties

For Complainant………..Mr. D.N. Acharya & Associates

For Opposite Parties……….. Mr. M.C. Swain & Associates

ORDER BY HON’BLE PRESIDENT- MR. P.K. PADHI:

                                                                                       JUDGMENT

            Complainant has filed this consumer complaint U/s.35 of Consumer Protection Act, 2019 seeking following reliefs;

            “Direct the opposite parties not to repossess the vehicle without prior approval of this Hon’ble Commission and extend the loan period for another 18 months from 24.01.2024 fixing EMI @ Rs.35,000/- and pay compensation Rs.1,00,000/- towards mental agony and Rs.50,000/- towards financial loss”.

            The brief fact of the case is that, the complainant purchased one Ashok Leyland Truck bearing Regd. No.OD-05-AF-5403 being financed by opposite parties of Rs.25,90,000/- on 27.01.2018 fixing 73 installments @ Rs.60,560/- as EMI starting from January, 2018 to January, 2024. Complainant has cleared some installments to the opposite parties in time. Due to Covid-19 pandemic and non operation of the vehicle, the vehicle remained in static position for which the complainant could not pay the installments during Covid-19 period and requested the opposite parties to extend the loan period for another 18 months fixing some lower installment. But the opposite parties without any notice tried to repossess the vehicle with an oblique motive without considering the financial condition of the complainant so also the present market position.   

            Opposite parties have filed written version stating as under;

            The complainant could not pay the EMIs as the vehicle was in static position are false and frivolous as such as the complainant is a chronic defaulter and his overdue amount Rs.1,79,096.70 till 24.02.2021 and as per the guidelines of the Reserve Bank of India already the opposite parties have calculated the Covid moratorium period from 01.3.2020 to 31.8.2020 and no relaxation is possible as per law. And also complainant has availed the loans from this bank for business purpose with respect to another truck bearing No.OD-05-AP-8968 and co-borrower of two other vehicles from this bank.

            On apprehension of seizure/repossession of vehicle for nonpayment of EMIs complainant has filed the consumer complaint for which the same is not maintainable.

            However if the complainant is in default of payment he should pay 30% of pending EMI within 02 weeks and 20% within 01 months thereafter and the rest is to be paid along with monthly EMI within three months thereafter or within the extended moratorium period whichever is later. The complainant is free to approach the opposite parties to reschedule the loan and on the application of complainant the opposite parties shall take a decision within 15 days and communicate the same to complainant. With the aforesaid observation and direction the consumer complaint is disposed of. No cost.

            Pronounced in the open Commission on this 31^st May, 2024.