DATE OF FILING :20/11/17 

IN THE CONSUMER DISPUTES  REDRESSAL FORUM, IDUKKI

Dated this the 30th day of August 2018

Present :

SRI. S. GOPAKUMAR PRESIDENT

           SRI. BENNY. K. MEMBER

CC NO.  242/2017

Between

Complainant       :  Sabu P.R.,

                                                                            Palathottiyil House,

                                                                            Manakkadu P.O.,

                                                                            Puthuppariyaram,

                                                                            Thodupuzha.

(By Adv: K.M.Sanu)

And

Opposite Party                                          :   1 . The Manager,

                                                                              Muthoot Capital Services Ltd.,

                                                                              Pulimoottil Payaniyar Building, 

                                                                              Thodupuzha P.O., Thodupuzha.

                                                                         2 . The Manager,

                                                                               Muthoot Capital Services Ltd.,

                                                                               M.G.Road, Kochi 682 035.

(Both By Adv: Lissy M.M.)

 

O R D E R

SRI. S. GOPAKUMAR (PRESIDENT)

 

The case  of the complainant is that,  

 

Complainant is an Auto driver.  In the month of February 2013, complainant availed a vehicle loan of Rs.1,20,000/- from the first opposite party  and purchased an Autorikshaw and registered it as KL/38-C/6400.  As per the loan agreement the loan amount is to be repaid with 42 monthly instalments @ Rs.4363/- per month.  The duration of the loan was 05/04/2013 to 05/09/2016.  As per the loan agreement the total loan amount including interest was Rs.1,83,246/-.

 

The complainant remitted the instalments regularly even though he failed to remit two or three instalment after some days, of its actual payment.  Within  41  months  he  remitted  the  whole  loan  amount  as  per  the  loan

                                                                                                                            (Cont...2)

-2-

agreement.  Even after the remittance of the whole loan  amount before the loan ending period, opposite parties are denied to issue the NOC and original RC book of the vehicle.  While so the opposite parties issued a notice against the complainant demanding to pay an amount of Rs.9300/- as loan arrears and this act of the opposite parties is gross deficiency in service and unfair trade practice.  Against this the complainant filed this complaint for allowing the relief such as to direct the opposite parties to close the loan account and issue finance termination letter and RC book of the vehicle and also direct them to pay compensation and cost.

 

Upon notice opposite parties entered appearance and filed detailed reply version.  In their version opposite  parties contented that, out of the total loan amount the complainant paid Rs.1,83,246/- only till 09/01/18 and an amount of Rs.4,598 plus interest is due in the loan account.  It is correct that if the complainant making prompt payment, the total amount to be remitted comes to Rs.1,83,246/-.  Opposite parties further contented that, as per the agreement, the complainant has to make the payment on the due date itself otherwise, it attracted delay interest of Rs.10/- per day or 3% per month which ever is higher.  From the 6th instalment onwards the complainant remitted the payment with delay.  Hence it attracted penal interest.  The opposite parties claim the amount as per the schedule and which is legally entitled to them.  Hence there is no deficiency in service or unfair trade practice on the part of the opposite parties in this matter and the complainant is liable to be dismissed.

 

The evidence adduced by both the parties by way of documents.  Complainant produced copy of RC book, loan pass book and receipt dated 16/04/18 which was marked as Ext.P1 to Ext.P3.  From the opposite parties side loan account statement is produced and marked it as Ext.R1.

 

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 ?

 

 

                                                                                                                          (Cont...3)

-3-

The Point:- We have heard the arguments of the learned counsel of both parties and have gone through the exhibits in detail.

 

It is an admitted fact that the complainant availed a vehicle loan of Rs.1,20,000/- from the first opposite party financier and agreed to repay it with 42 months @ Rs.4363/- as EMI.  As per Ext.R1 loan statement  the agreed amount is to be repaid by the complainant including finance charge was Rs.1,83,246/- starting from 05/04/13 and ending on 05/09/2016.  On perusing Ext.P2 loan pass book, it is seen that the complainant remitted the entire loan amount  as per the loan agreement within the stipulated period, and as per Ext.P3 receipt, the complainant again remitted an amount of Rs.6500/- on 16/04/18 as foreclosure charge to the first opposite party company.  On going through the evidence on record it is very clear that the complainant remitted entire loan amount within the stipulated period and the first opposite party realized an amount of Rs.6500/- as foreclosure charge.  Even though some instalment are remitted by the complainant some days after the date fixed for it, he closed the entire loan transaction within time.  Since the opposite parties received an amount of Rs.6500/- as foreclosure charges on 16/04/18, as per Ext.P3 receipt, issued by the first opposite party, opposite parties has no locus standi to withheld the documents of the vehicle in question, and the opposite parties is not entitled to demand any further amount as loan dues from the complainant.  Even though opposite parties filed a detailed reply version, and a statement of account, no substantiating evidence is produced before the Forum, to convince that how they calculated the balance amount and on what ground.  Under the above circumstances the demand of further loan dues from the complainant is illegal and it is a clear case of unfair trade practice.

 

On the above said discussion, the Forum is of a considered view that the allegation levelled against the opposite parties are believable and the complainant proved deficiency in service and unfair trade practice against the opposite parties.

 

Hence the complaint allowed.  The first opposite party is directed to issue finance termination letter along with the RC book of the vehicle to the complainant, and also directed to pay Rs.5,000/- as compensation for the mental agony sustained to the complainant in this matter and Rs.3000/- as litigation  cost.   The   direction   of   this   Forum   shall   be   complied   by   the 

                                                                                                                            (Cont...4)

-4-

opposite parties within 30 days from the date of receipt of the copy of this order,  failing which the amounts  stated above  shall carry 12% interest per annum from the date of default  till the realization. 

 

Pronounced in the Open Forum on this the 30th day of August, 2018.

 

                                                                                                    Sd/-

                                                                                     SRI. S. GOPAKUMAR (PRESIDENT)

                                                                                                           Sd/-                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

             SRI. BENNY. K.  (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            -  Loan pass book

Ext.P3            -  Receipt dated 16/04/18 

On the side of the Opposite Party :

Ext.R1   - Loan Account Statement

 

             Forwarded by Order,

 

 

                    SENIOR SUPERINTENDENT