DATE OF FILING : 23/05/17

IN THE CONSUMER DISPUTES  REDRESSAL FORUM, IDUKKI

Dated this the  28th day of December  2018

Present :

SRI. S. GOPAKUMAR PRESIDENT

           SMT. ASAMOL P. MEMBER

CC NO.  96/2017

Between

Complainant       :    Ashokan K.M.,

                                                                              Kozhimalakkunnel House,

                                                                              Muthalakkudam P.O., Thodupuzha.

(By Adv: K.M.Sanu)

And

Opposite Party                                  :  1 .  The Manager,

                                                                       Mahindra & Mahindra Financial Services Ltd.,

                                                                       Vengalloor P.O., Thodupuzha.

                                                                2 .  The Manager,

                                                                       Mahindra & Mahindra Financial Services Ltd., 

                                                                       Market P.O., Muvattupuzha, 686 671.

(Both by Adv: Saji Augustine and Adv. Vikraman Nair N.G.)

 

O R D E R

SRI. S. GOPAKUMAR (PRESIDENT)

 

The case  of the complainant is that,  

 

Complainant availed a vehicle loan of Rs.1,81,000/- from the opposite parties bank on 10/07/15 agreed to repay it with interest in 48 instalments @ Rs.5995/- per months.  The total amount including finance charge is to be repaid is Rs.2,83,265/-.  In this loan account complainant remitted 16 instalments @ Rs.6000/- each, thereafter he failed to remit further due to the financial stringencies.  The opposite parties financier  calculated huge amount as penal interest in the defaulted instalments and demanding exorbitant amount towards loan dues.  Opposite parties are trying to take the vehicle forcibly from the custody of the complainant.  The act of the opposite parties  in charging heavy amount as penal interest and demanding other charges amounts of unfair trade practice.  Against this the complainant filed this petition and prayed for allowing relief such as to direct the opposite parties to withdrawn the  additional  charges imposed in the loan dues and further direct

 

                                                                                                                           (Cont....2)

-2-

the opposite parties to re -schedule the loan instalments and pay compensation and cost.

 

Upon notice opposite parties entered appearance and  filed detailed reply version by denying the complaint averments.  In their version opposite parties further stated that the complainant made payment of Rs.53,920/- only in the loan account and the balance amount pending in the loan account is Rs.1,43,880/-, and additional finance charge of Rs.15,368/- as on 04/07/17.  The present attempt of the complainant is only to delay the payment and to use the vehicle as far as he can, without payment of EMI.  There is no unfair trade practice and hence complaint is liable to be dismissed.

 

Evidence adduced by the complainant by way of documents.  Complainant produced the copy  of RC book, copy of repayment schedule, copy of loan details, copy of statement of account and a receipt.  These documents are marked as Ext.P1 to Ext.P5 respectively.  From the defence side no evidence is adduced.

 

Heard both sides,

 

The point that arose for consideration is whether there is any deficiency in service from the part of opposite parties, and if so, for what relief the complainant is entitled to ?

 

The Point:- We have heard the counsels for both the parties and had gone through  the  evidence  on  records carefully.  It is an admitted  fact that complainant availed a vehicle loan from the opposite party financiers. Complainant had defaulted the payment of some instalments.  For the default instalments opposite parties charged penal interest and that incidental charges as usual.  The complainant admitted that he is ready to pay the pending instalments on the condition that if the opposite parties waives the additional charges which is accounted in the defaulted instalments.

 

On going through the evidence on record, the Forum is of a considered view that complainant is liable to pay penal interest to the defaulted instalments.  At the same time opposite parties are having no authority to  realize huge amount as additional charges, in the defaulted instalments.

                                                                                                                            (Cont....3)

-3-

On the basis of above discussion the complaint allowed in part.  Opposite parties are directed to re-schedule the instalments by adding 12% interest from the date of default and issue a statement of account  as such to the complainant.  Complainant is directed to pay the defaulted instalments with 12% interest to the opposite party, from the date of default within 30 days from the date of receipt of the re-scheduled  statement from the opposite party financier.  No order to cost or compensation.

 

Pronounced in the Open Forum on this the 28th day of December, 2018.

 

                                                                                                     Sd/-

                                                                                      SRI. S. GOPAKUMAR (PRESIDENT)

                                                                                                            Sd/-                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

             SMT.ASAMOL P.  (MEMBER)

 

APPENDIX

 

Depositions :

On the side of the Complainant :

Nil

On the side of the Opposite Party :

Nil

Exhibits :

On the side of the Complainant :

Ext.P1            -  Copy  of RC book

Ext.P2            -  Copy of repayment schedule

Ext.P3          -  Copy of loan details

Ext.P4          -  Copy of statement of account

Ext.P5         -   Receipt

On the side of the Opposite Party :

Nil.

 

          Forwarded by Order,

 

 

                 SENIOR SUPERINTENDENT