DATE OF FILING : 12.5.2016
IN THE CONSUMER DISPUTES REDRESSAL FORUM, IDUKKI
Dated this the 30th day of March, 2017
Present :
SRI. S. GOPAKUMAR PRESIDENT
SRI. BENNY. K. MEMBER
CC NO.150/2016
Between
Complainant : Abdul Rahim, S/o. Azeezkutty,
Valiyath House,
Pampadumpara,
Idukki.
(By Adv: Gigi Dal)
And
Opposite Party : Shriram Transport Finance Co. Ltd.,
Chennattumattam Junction,
Kattappana Branch,
Kattappana P.O., Idukki.
Represented by its Manager.
(By Adv: Gem Korason)
O R D E R
SRI. BENNY. K. (MEMBER)
Complainant had availed a loan for Rs.3,52,457/- from the opposite party to purchase a LGV Tipper bearing Reg. No.KL-45-B-2431. He had agreed to repay the amount in 30 monthly installments of Rs.15,444/- each. Till 14.3.2014, complainant has been very regular in repaying the installments. Due to financial crisis, complainant could not paid the balance installments in time. Complainant had approached the opposite party for seeking more time for repaying the dues, but the opposite parties are not amenable for that. On 13.8.2015, complainant received a notice issued by the opposite party to repay an amount of Rs.4,88,586/- as on 7.8.2015 as due from the complainant. Then the complainant approached the opposite party with 3 installments, but the opposite party demanded huge amount as interest and other charges and threatened the complainant that forceful possession of the vehicle will be taken by them at the
(cont....2)
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earliest. Hence the complainant approached the Forum for getting an order, not to collect penal interest and other charges and not to take forceful possession of the vehicle and also for compensation for mental agony.
In the written version, opposite party had admitted that complainant had entered into a loan agreement for purchasing a vehicle KL-45-B-2431. As per agreement, an amount of Rs.4,66,561/- have to be repaid by 30 monthly installments. Out of Rs.4,66,561/-, an amount of Rs.3,52,457/- is the loan advance and an amount of Rs.11,14,109/- is the interest. The complainant is a gross defaulter and did not turned up to remit monthly installments in time. The complainant further availed WCL on 17.3.2014 for an amount of Rs.19,229/- and further availed WCL on 29.11.2011 for an amount of Rs.9,631/-. This opposite party is claiming the amount only which they are legally entitled to get.
The complainant is a gross defaulter and did not make any payment as stipulated as per the terms of the agreement. The payment was made after the stipulated period. Since the opposite party is entitled to claim overdue charges as per the terms of the agreement, the complainant is liable to pay the overdue charges for the delayed payment. The complainant is not entitled to get any relief as prayed for and the petition may be dismissed.
The point 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 ?
The evidence consists of oral testimony of PW1 and Ext.P1 to P4 were marked on the side of complainant.
The POINT :- Complainant was examined as PW1. He had availed a loan for Rs.3,52,457/- from the opposite party to purchase a LGV Tipper bearing Reg. No.KL-45B-2431. Ext.P1is the copy of RC Book. He had agreed to repay the amount in 30 monthly installments of Rs.15,444/- each. Ext.P2 is the repayment schedule. Till 14.3.2014, the complainant
(cont....3)
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has been very regular in repaying the installments. Statement of account copy is marked as Ext.P3. Due to financial crisis, he could not paid the balance installments in time. On 13.8.2015, complainant received a legal notice issued by the opposite party to repay an amount of Rs.4,88,586/- as due from the complainant as on 7.8.2015. Then the complainant approached the opposite party with 3 installments, but the opposite parties demanded huge amount as interest and other charges and threatened the complainant that they will take possession of the vehicle soon. Hence the complainant approached the Forum for getting an order to not collect penal interest and other overdue charges and for compensation for mental agony.
In the written version, opposite party had admitted that complainant entered into a loan agreement for purchasing a vehicle bearing Reg. No.KL-45B-2431. As per agreement, an amount of Rs.46,656/- has to be repaid by 30 monthly installments. Out of Rs.4,66,561/-, an amount of Rs.3,52,457/- is the loan advance and Rs.1,14,109/- is the interest. The complainant is a gross defaulter and did not turned up to remit monthly installments in time. The complainant further availed two WC Loans.
This opposite party is claiming the amount only which they are legally entitled to get. Opposite party has not produced any authentic document from RBI or Government to show that they can charge huge penal interest for the delayed installments.
In the result, the petition partially allowed. Opposite party is directed to settle the loan account of the complainant by charging only 12% interest per annum for the defaulted installments for the defaulted period, within 30 days of receipt of a copy of this order.
Pronounced in the Open Forum on this the 30th day of March, 2017
Sd/-
SRI. BENNY. K., MEMBER Sd/-
SRI. S. GOPAKUMAR, PRESIDENT
(cont....4)
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Depositions :
On the side of the Complainant :
PW1 - Abdul Rahim. A.
On the side of the Opposite Party :
Nil.
Exhibits :
On the side of the Complainant :
Ext.P1 - Copy of RC Book.
Ext.P2 - Repayment schedule.
Ext.P3 - Statement of account.
Ext.P4 - Legal notice.
/ Forwarded by Order /
SENIOR SUPERINTENDENT
