ORDER R.Vijayakumar, Member. This is a complaint filed Under Section 12 of Consumer Protection Act. The complainant’s case is that he had obtained a loan of Rs.57200/- from the opposite party vide Loan No.F29085 (2) dated: 09.02.2009 by pledging 7 sovereigns of gold ornaments. The agreed interest rate is 8% per annum. On 15.10.2009, when the complainant approached the opposite party for closing the loan, the opposite party demanded an amount of Rs.12598/-as interest. Even though the complainant demanded a detailed statement of account, the opposite party denied the same. The complainant was ready to close the loan account remitting the loan amount along with interest in the agreed rate ie 8%. The opposite party had issued a notice dated: 09.02.2010 intimating that the gold ornaments will be auctioned. The opposite party is not stating the amount to be remitted by the complainant. The interest rate also suppressed. This is intended to extract huge interest without proper accounting. There is deficiency in service from the part of opposite party. The complainant suffered financial loss and mental agony. Hence the complainant filed the complaint for (3) getting direction to return the gold ornaments receiving 57200+8% interest and for compensation along with cost. The opposite party entered appearance. But he had failed to file version and to adduce evidence. The complainant filed affidavit. PW1 examined. Exts P1 and P3 marked. The points that would arise for consideration are : 1. Whether there is any deficiency in service from the part of opposite party. 2. Compensation and cost. Points (1) & (2) As the opposite party failed to file version or adduce evidence. we are constrained to relay upon, the evidence adduced by the complainant. We have perused the documents in detail. We find that there is deficiency in service from the part of opposite party. (4) In the result, the complaint is allowed directing the opposite parties to return the pledged gold ornaments of the complainant receiving Rs.57200/- along with interest at the rate of 8% for the period from 09.02.2009 to 15.10.09. The opposite parties are further directed to pay compensation Rs.2000 and cost Rs.1000/-. The order is to be complied with within one month of the date of receipt of the order. Dated this the 30th day of August 2010. K.Vijayakumaran :Sd/- Adv.Ravi Susha :Sd/- R.Vijayakumar :Sd/- // Forwarded by Order // Senior Superintendent Date of Filing : 19.02.2010 Date of Order : 30.08.2010 (5) INDEX List of witness for complainant PW1 - Christopher List of witness for complainant P1 - Copy of Loan card P2 - Notice | 
