Banking service- Complainant's vehicle got<br /> financed with the Finance Company- Vehicle was <br /> seized for non payment of installments- Seizure of <br /> vehicle without intervention of Court is illegal <br /> as rights of creditors are akin to those of <br /> hypothetic under the law- State Commission <br /> rightly directed financier to release the vehicle-<br /> Complainant also directed toi pay monthly <br /> installment regularly- Order of State Commission<br /> upheld.<br /> Similar observations were made in another case of Hon'ble National Commission reported as Daya ram vs. Union Bank of India 2008 (1) CPC 454 in which it was observed as under :<br /> "Consumer Protection Act, 1986- Section 21 (b)-<br /> Banking Service-Tractor purchase- Tractor and Trolley<br /> purchased by complainant but defaulted in payment of <br /> installments due to which tractor was seized by Bank-<br /> District Forum directed Bank to return the tractor <br /> with cost and compensation - Complainant was <br /> also directed to make the balance payment-though<br /> order of District Forum not based upon real <br /> facts but taking a sympathetic view State Commission <br /> directed respondent to return the tractor after <br /> receiving 13.26% interest on Rs.60000/- and<br /> also Rs.21000/- till the date of seizure. Order of <br /> State Commission does not suffer fom illegality-<br /> Petition dismissed.<br /> From the above discussion it is clear that opposite party took forcible possession of tractor bearing NO. PB09 G 9375 through some musclemen hired by the opposite party and right thumb impression of the complainant was obtained on Ex.OP3 at the time of execution of loan agreement. The perusal of Ex.OP3 shows that it is printed form.<br /> So we direct opposite party Mahindra & Mahindra Financial Services Ltd. G.T. road, Jalandhar to hand over the possession of tractor in running condition to the complainant within one month from the receipt of copy of this order and after receiving the tractor in the running condition , complainant shall pay the remaining amount of loan in six half yearly installments and the complainant will also pay the interest on the remaining amount at the agreed rate of interest in the loan agreement. <br /> That the opposite party shall not charge any interest from the complainant from 29/7/2008 (the date when the tractor was taken into possession by the opposite party) till date of delivery of tractor in running condition back to the complainant. <br /> That in case opposite party fails to hand over the tractor to the complainant within above mentioned stipulated period then they shall return to the complainant amount of installments received by opposite party i.e. Rs.1,43,700/- alongwith interest @ 12% p.a. from the dates when the opposite party received these amounts from time to time mentioned in Ex.P7 to P15 from the complainant .And after that loan agreement and contracts between the parties shall deemed to be cancelled and opposite party is restrained to encash any blank cheque if submitted to them at the time of execution of loan agreement by <br /> Piara Singh co-borrower. <br /> Opposite party who are doing business of financing should very well understand that in this civilized Society,there is no place for the law of jungle to prevail. So apart from the above directions, opposite party is also directed to pay cost of Rs.20000/- for loss being suffered by the complainant due to forcible possession of tractor and further direct opposite party to pay litigation expenses to the tune of Rs.5000/- within one month from the receipt of copy of this order.<br /> Let certified copies of order rendered be supplied to the parties and thereafter file be consigned to record room.<br /> <br /> Announced : Gulshan Prashar Shashi Narang Paramjit Singh<br /> 15.5.2009 Member Member President.