Presented by Sri B.K. Pati, Member:- <br /> The Complaint pertains to deficiency in service as envisaged under the Provision of Consumer Protection Act-1986 and its brief fact is as follows:-<br /> <br /> The Complainant had purchased one second hand Indica Car bearing No. OR-17-9641 with finance of Rs.1,50,000/-(Rupees one lac fifty thousand)only by the Opposite Parties, the loan amount to be paid in 22(twenty two) equal monthly installments of Rs.8,000/-(Rupees eight thousand)only each. Out of the 22(twenty two) installments the financier had taken one installment in advance on the date of finance i.e. Dt.11/03/2003. The Opposite Parties had also retained 21(twenty one) numbers of post dated cheques from the Complainant for realization of the loan amount. The Complainant paid 17(seventeen) installments, out of 21(twenty one) installments, in cash and the rest 4(four) installments were realized by the financier through post dated cheques, thereby, the Complainant had paid all the installments due under the agreement to the financier and after such clearance of all dues the Opposite Parties should have issued No Due/No Objection certificate infavour of the Complainant to make necessary application to R.T.A., Bargarh for correction of endorsement of hypothecation and also they should have returned the posted dated cheques to the Complainant which the Opposite Parties did not do in spite of repeated personal approach and a registered notice Dt.12/09/2007. The Complainant prays for directing the Opposite Parties to issue No Due/ No objection certificate in respect of the vehicle in question and to return the remaining posted dated cheques as well as to pay to the Complainant compensation of Rs.20,000/-(Rupees twenty thousand)only and litigation expenses of Rs.5,000/-(Rupees five thousand)only.<br /> <br /> The Opposite Parties in their version admit the claim of the Complainant with regard to the payment of equal monthly installments. They contend that the payment were not made as per the agreed schedule to which delayed payment charges became due and also some of the cheques issued by the Complainant bounced and cheques bounced charges were recoverable from the Complainant, the total receivable amount from the Complainant on the above ground being Rs.86,966.70/-(Rupees eighty six thousand nine hundred sixty six and seventy paise)only. No Objection Certificate can be issued subject to clearance of the above dues. The Opposite Parties also say that the Complainant has not gone for arbitration as per the agreement. They pray for dismissal of the complaint with a direction to the Complainant to clear up the above outstanding dues as per the terms of the contract.<br /> <br /> Perused the complaint petition, Opposite Parties version as well as copy of documents filed by the Parties and find as follows:-<br /> <br /> The payment of all the equal monthly installments by the Complainant is admitted by the Opposite Parties. They have charged Rs.72,996.70/-(Rupees seventy two thousand nine hundred ninety six and seventy paise)only and Rs.14,000/-(Rupees fourteen thousand)only towards delay payment and cheques bounce charge respectively. Such charges total more than 50%(fifteen percent) of the financed amount. The Opposite Parties have also not issued any notice to the Complainant as regards such dues. By all accounts, the above charges made by the Opposite Parties is unjust arbitrary, illegal and grossly, inflated. It is unilaterally imposed by the lender on a helpless seeker of loan defying all proprieties, reasonableness and business ethics. The equal monthly installments are fixed calculating interest on the loan amount for the entire loan-period and the loanee pays interest over the amount which are cleared through payment of equal monthly installments. Naturally, such over charges cannot be allowed to be imposed. As such, non-issue of No Objection/ No Due certificate infavour of the Complainant in respect of the vehicle in question, amounts to deficiency of service by Opposite Parties towards the Complainant.<br /> <br /> In view of such finding, the Opposite Parties are directed, jointly and severally not to make any further claim as regards the loan amount from the Complainant and issue No Due/No Objection Certificate in respect of the vehicle bearing No. OR-17-9641 and return the remaining 17(seventeen) numbers of post dated cheques to the Complainant. The Opposite Parties shall also pay to the Complainant Rs.2,000/-(Rupees two thousand)only towards litigation expenses and carry out the Order within thirty days hence.<br /> <br /> Complainant allowed accordingly.<br />