Delhi

New Delhi

CC/918/2013

Vivek Shrivastava - Complainant(s)

Versus

M/S. Deutsche Bank Ltd. - Opp.Party(s)

06 Apr 2015

ORDER

CONSUMER DISPUTES REDRESSAL FORUM-VI

(DISTT. NEW DELHI), ‘M’ BLOCK, 1^STFLOOR,

VIKAS BHAWAN, I.P.ESTATE,

NEW DELHI-110002.

 

Case No.CC/ 918/13                           Dated:

In the matter of:

SH.VIVEK SHRIVASTAVA

R/O. C-44, Z-3, DILSHAD GARDEN,

NEW DELHI-110095

 ……..COMPLAINANT

         

VERSUS

DEUTSCHE BANK AG

P.BOX NO.9095,

GOREGAON POST OFFICE,

GOREGAON (EAST)

MUMBAI 400 063

 

                                        ………. OPPOSITE PARTY

 

ORDER(ORAL)

CORM:        PRESIDENT: C.K.CHATURVEDI

          MEMBER:   S.R. CHAUDHARY                 

          MEMBER:   RITU GARODIA

                                     

 

Present Parties                                                  

Argument heard

 

 

Member: Ritu Garodia

          We have summarily considered the matter in the light of submission and material on record.  The    short facts of alleged deficiency in that complainant are that complainant took a loan in July, 2006 and repaid the full amount on 25.10.2014.  OP charged pre-payment penalty amounting to Rs.1,23,964/-.  Thereafter the complaint was filed.  Complainant has placed a circular dated 5.6.2012 issued by RBI, wherein foreclosure charges/pre-payment is abolished as being a restrictive practice deterring the borrowers from switching over to cheaper source.

          Perusal of pleadings and circular reveals that prepayment penalty was charged and OP has defended it on the grounds of charges being of pre-circular date from part of agreement.  Keeping the RBI circular in view, the charge of prepayment penalty is a restrictive trade practice and also against equity and principles of natural justice.  We, therefore, direct the OP bank to refund the penalty of Rs.1,23,964/- charged to complainant as being against the public policy and interest.

          Order to be complied within 30 days of receipt of Order.

File be consigned to record room.

Copy of the order be sent to the parties free of cost.

          Pronounced in open Court on 06.04.2015.

 

 

(C.K.CHATURVEDI)

PRESIDENT

 

 

(S.R. CHAUDHARY)               (RITU GARODIA)

MEMBER                                 MEMBER