Delhi

New Delhi

CC/548/2006

Dr. Manish Narang - Complainant(s)

Versus

M/S. Standard Chartered Bank - Opp.Party(s)

05 Jun 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/548/06                        Dated:

In the matter of:

Dr. Manish Narang,

S/o Dr. K.K Narang,

R/o A-16/F1, Dilshad Garden, Delhi-95

 

……..COMPLAINANT

       

VERSUS

1. Standard Chartered Bank,

        Mortgages-North, Through its Chairman,

        Narain Manzil, Barakhamba Road,

        New Delhi-01

 

2. M/s. ACE Credit,

        1 A, G & JU Block, Pitampura, Delhi-88

 

                                         ……..OPPOSITE PARTIES

 

ORDER

Member: S.R Chaudhary

 

The Complainant by profession is a Doctor who had applied for Home Loan to OP2 on behalf of OP1 through advertisement. Complainant paid Rs.5,000/- as processing fee vide cheque bearing no.192623 dated 08.09.04 as per Exh.A. After few days complainant was informed that loan of Rs.13 lakhs was sanction @ 7.9% per annum instead of 7.65% per annum as agreed earlier. Ultimately a sanctioned letter was sent to complainant by OP as per Exh.B. Later on loan amount was enhanced from Rs.13 lakhs to Rs.15 lakhs @ 7.9% dated 08.09.04 duly received by complainant in 2^nd week of Oct.2004 as per Exh.C and assurance was given to complainant that the amount will be disbursed within 15 days by OP1 but loan was not disbursed even till 3^rd week of November 2004. Later on OP1 informed complainant that the loan amount would be Rs.13.5 lakhs @ 9% per annum instead of earlier commitment of 7.9%. Ultimately complainant approached OP1 senior officer Mr. Shikhar but complainant’s request was rejected. Ultimately complainant was agreed to accept 9% interest for a loan amount of Rs.13.5 lakhs and OP issued a letter dated 24.12.04 as per Exh.D. As per instruction given by OP1 complainant purchased stamp papers worth of Rs.88,000/- for registration amount of flat of Rs.11.2 lakhs as per Exh.E. Later on complainant approached Mr. Shikhar for disbursement of loan at the time of sale deed but OP refused to disburse the loan as the property is not free hold. The Complainant in frustration sent a legal notice as per Exh.G and complaint was filed.

OP1 has admitted in W.S that complainant has approached us through OP2 and it was offered a loan of Rs.13.5 lakhs @ 7.9% and loan deposited Rs.5,000/- as processing fee over which there is no disputes but OP concealed the facts before sanctioned the loan thrice for sum of Rs.13 lakhs, Rs.13.5 lakhs and Rs.15 lakhs, OP1 never disclosed not to provide loan on leasehold whereas property paper given to OP1 at very initial stage before processing the loan agreement which clearly indicated that there is sole negligence of OP1 who deliberately mis-leaded the complainant and kept him in dark despite thrice sanctioned letter on different date with different rate of interest i.e.7.9, 8.5 and 9% within 4 months remained changing attitude which is clear case of unfair trade practices on the part of OP1 who dragged innocent doctor into litigation after taking processing fee.

Keeping in view, holding OP1 guilty, OP1 is directed to pay a compensation of Rs.50,000/- for harassment inclusive of litigation expenses.

The order shall be complied within 30 days of the receipt of the copy of the order; otherwise action can be taken against OP under Section 25 / 27 of the Consumer Protection Act.

File be consigned to record room.

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

 

        Pronounced in open Court on 05.06.2015.

 

                          

(C.K.CHATURVEDI)

PRESIDENT

 

 

(S.R. CHAUDHARY)                 (Ritu Garodia)

MEMBER                                  MEMBER