04.03.2024: 

Delivered by Mr. K.B.SANGANNANAVAR. JUDICIAL MEMBER(PRINCIPAL DISTRICT JUDGE-(R):

01.   This is an Appeal filed by the complainant in CC No.1414/2013 on the file of District Consumer Disputes Redressal Forum, Bangalore Urban District, aggrieved by the common order dated: 06.11.2015.

02.   The parties to this Appeal will be referred to their rank assigned to them by the District Forum.

03.   The District Forum, in consideration of the undertaking - cum - sanctioning letter pertaining to each of the loan transactions, held, Forum has no jurisdiction to interfere in to the rate of interest mentioned in the undertaking - cum - sanctioned letter.  Further observed, if at all complainant feels, the rate of interest charged by the opposite party is exorbitant, can challenge it   before an appropriate authority or Hon’ble High Court as the case may be. In such a view of the matter Forum ordered to dismiss this complaint by directing parties to bear their own costs, which in our view does not call for any interference of this Commission for the grounds set-out in the Appeal Memo.  Accordingly, ordered to dismiss the Appeal with no order as to costs.

04.   The LCR is directed to be returned back to the District Forum concerned for needful.

           Sd/-                                                    Sd/-

LADY MEMBER                         JUDICIAL MEMBER

KNMP*