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Gorav Sharma filed a consumer case on 16 May 2024 against Manappuram Finance Ltd in the DF-I Consumer Court. The case no is CC/496/2021 and the judgment uploaded on 17 May 2024.
DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION-I,
U.T. CHANDIGARH
Consumer Complaint No. | : | CC/496/2021 |
Date of Institution | : | 26/07/2021 |
Date of Decision | : | 16/05/2024 |
Gorav Sharma (Age 38 Years), S/o Sh.Vijay Kumar Sharma, r/o House No.88, Sawastik Vihar, Sushma Villa, near Sky Net Tower, Patiala Road, Zirakpur, Punjab.
...Complainant
Versus
1. Manappuram Finance Limited IV/410 (Old) W 638A (New) Manappuram House Valapad, Thrissur, Kerala-680567 through its Managing Director Sh.V.P.NandKumar.
2. The Regional Manager Manappuram Finance Limited SCO No.70/71, Sector 45-C, Chandigarh-160045.
3. The Branch Manager Manappuram Finance Limited SCO No. 42, Sector 9, Panchkula, Haryana.
...Opposite Parties
CORAM : | PAWANJIT SINGH | PRESIDENT |
| SURJEET KAUR | MEMBER |
| SURESH KUMAR SARDANA | MEMBER |
ARGUED BY | : | Sh.Piyush Aggarwal, Advocate proxy for Sh.Raj Kaushik, Advocate for Complainant. |
| : | Sh.Jatin Sahrawat, Advocate for OPs. |
i) A/C No. 0101330730006274 (38 Grams of Gold-2 Bangles and one neckless) on 02.06.2020 Annexure C-1.
ii) A/C No. 0101330700030087 (144.1 grams of Gold- Broad Bangles-4 Nos, Necklace 2 Nos- Chain 1 Nos, Bracelet-1 and Finger Rings 3 Nos) total 11 items amounting to Rs.2,51,000/- approximately in August 2018.
The complainant has had been paying the interest for the loan taken by him, which is evident from the statement of account, attached with the complaint as Annexure C-2. The second loan had been taken by the complainant due to the financial condition arising from the outcome of the COVID-19 and for that he had to leave his business of SALOON. Despite the financial crunch arising out of the COVID-19 pandemic, the complainant has had been paying certain interest instalment to the OP. On 22.04.2021, two Agents of OP-Company one Man and one Lady visited the residence of the complainant and informed him that the gold pledged by the complainant in respect of A/C No.0101330700030087 (144.1 grams of Gold is going to be auctioned today whereas the Gold pledged vide Account No.0101330730006274 (38 Grams of Gold) has already been auctioned. Immediately the complainant approached the office of the Company at Panchkula on 22.04.2021 and enquired about the auctioning of the pledged ornaments. The complainant was even ready and is even ready to pay the entire remaining amount along with interest. The officials of the company were unable to give any reply to the query put by the complainant and even declined/refused to give the relevant documents with regard to auctioning of the pledged gold. However, the complainant after depositing the entire amount in respect of the other Account, got released the pledged loan of 144.1 grams of gold. Complainant further alleged that the OPs had acted contrary to the guidelines issued by the Reserve Bank of India and had acted against the settled proposition of law. Before putting the pledged ornaments on auction, it was the bounden and legal duty of the company to give an opportunity to deposit the amount by way of a specific notice which is missing in the present case. The Company has failed to give any notice to the complainant before proceeding for auctioning the pledged ornaments. The complainant is ready to clear the outstanding loan till date along with the agreed rate of interest and no show cause notice has been issued to him nor any publication has been done, therefore, the complainant is legally entitled to ask the restoration of 38 grams of gold which had been pledged by the complainant. Thereafter the complainant got served a legal notice dated 04.05.2021 to the OPs (Annexure C-3). Hence, is the present consumer complaint.
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16/05/2024 |
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| [Pawanjit Singh] |
Ls |
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| President |
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| Sd/- |
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| [Surjeet Kaur] |
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| Member |
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| Sd/- |
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| [Suresh Kumar Sardana] |
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| Member |
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