Haryana

Ambala

CC/163/2018

Sumit Singh - Complainant(s)

Versus

Muthoot Fincopp Ltd - Opp.Party(s)

14 Nov 2018

ORDER

BEFORE THE DISTT. CONSUMER DISPUTES REDRESSAL FORUM; AMBALA.

                                                          Complaint case No.163 of 2018.                                                             

                                                              Date of Instt.: 21.05.2018.                                                    

                                                              Date of Decision: 14.11.2018.

Sumit Singh son of Sh.Sajinder Singh resident of village Tharouli P.O.Mandheri District Kurukshetra

                                                                             ..Complainant.

                              Versus

Muthoot Fincopp Ltd. Manav Chowk, Ambala City (R.B.I License No.N1600170) through its Branch Manager.

                                                                             ..Opposite party.

          Complaint U/S 12 of the CP Act,1986                                 

Before:                 Sh.D.N.Arora, President.                    

                             Sh.Pushpender Kumar, Member.                     

                                Dr.Sushma Garg, Member.

Present:                Sh.Binderjeet Singh, Advocate for complainant.                                        

                                     OPs exparte.                           

ORDER

                             Complainant has filed the present complaint under Section 12 of the Consumer Protection Act, 1986 against the opposite party with the averments that on 29.11.2012 he took Gold Loan of Rs.2,73,154/-  against gross weight of gold 143.100 Gms vide loan account No.F-3721 and again took a gold loan of Rs.18402/- against gold weight of 19.300 Gms vide loan account No.F-4215 and again took a loan of Rs.1,54,986/- against gold weight of 78.600 Gms on 19.04.2017. In the last week of January 2018, the complainant received a telephonic call from the OP to get the gold after payment of full amount of loan as agreed and on the call of OP he visited the OP on 05.02.2018 for making the payment of gold but it was told to him that the gold has been sent for auction and refused to receive the amount. The complainant visited the Op number of times for making the loan amount and also requested for returning the gold but to no avail and even the gold was sent for auction without serving any notice upon the complainant. The complainant got served legal notice upon the OP but all in vain. The act and conduct of the OP clearly amounts to deficiency in service. In evidence, the complainant has tendered affidavit Annexure CA and documents Annexure C1 to Annexure C10.

2.                Notice was sent to the OP but none has turned up on its behalf, therefore, it was proceeded against exparte vide order dated 03.07.2018.

3.                Arguments advanced by learned counsel for the complainant have been heard and the case file has been perused carefully.

4.                In order to prove his version the complainant has tendered his duly sworn affidavit Annexure CA on the case file besides producing documents Annexure C1, Annexure C4, Annexure C7 (copies of receipt qua receiving amount), Annexure C2, Annexure C6 and Annexure C9 (copies of certificates issued by OP), Annexure C3, Annexure C5 and Annexure C8 (copies of application for obtaining loan), Annexure C10 copy of legal notice. From the documents placed on the case file it is clear that the complainant has availed gold loan facility for Rs.1,54,986/- on 19.04.2017 Rs.2,73,154/- on 29.11.2016 and Rs.18402/- on 19.04.2017 after pledging the gold 78.600 gms, gold 143.100 gms and  gold 19.300 gms. vide Annexure C1, Annexure C4 and Annexure C7 respectively. As per agreement executed between the parties Annexure C1, Annexure C4 and Annexure C7, it is clear that if the complainant fails to make the interest as per stipulated period i.e. 0 to 90 days  @ 16 % per annum, 91 to 150 days @ 20 % per annum, 161 to 180 days @ 22 %.  It is also clear from the above said version of the complainant in his complaint that the OP had put his gold for auction without serving any notice regarding this upon him.

                             In order to reach at any conclusion this Forum had summoned the record of the OP vide order dated 06.09.2018 regarding whether they have  auctioned the gold which was pledged by the complainant with them and directed to bring the proceedings of the auction of the gold alongwith the rate of gold on which date they have auctioned the same and on that date when the gold was pledged. On dated 18.09.2018 Ms.Neeru Sharma, Branch Manager appeared and she was directed to produce the complete record but on 29.08.2018 and 12.10.2018 she requested for some more time which was given to her. Thereafter on 29.10.2018 she appeared and made a statement that I have brought the part of the summoned record available at Ambala Branch of all three accounts bearing No.F372, F4215 and F4216 as mark 1 to mark 26 and rest of the summoned record regarding auction of the gold is available in the head office at Muthoot FB Corp Ltd. Trivanderum (Kerla). I have produced the all available record at branch Ambala and nothing is lying except the produced record in my branch.

                    Perusal of record produced by the Branch Manager shows that it was incomplete and was not enough to reach at any conclusion rather it shows that how careless they are in maintaining the record and even did not produce the same before this Forum despite directions issued number of times. Only notices for auction are on the file which are Mark 15 and Mark 23.

The complainant got served a legal notice Annexure C10 to the OP before filing of the complainant but to no avail. Moreover, there is nothing on the record to prove that actually the auction was complete or not and the Branch Manager of the OP failed to produce the complete auction record to show on which rate the pledged gold was auctioned and how much was received from that auction and what had been status of the account of the complainant. The pleadings and contentions put forth by the complainant remained unrebutted as the opposite party is exparte. Since there is nothing on the file to reach at any conclusion that auction proceedings were finalised or not, therefore, at this stage it would be appropriate if we direct the OP to return the pledged gold to the complainant after receiving the loan amount alongwith interest as agreed in the agreement as the complainant did not redeem the pledged gold as per stipulated period of 180 days. Accordingly, present complaint is hereby allowed and the OP is further directed to pay a compensation of Rs.25,000/- to the complainant on account of harassment and mental agony due to deficiency in service on its part besides Rs.5,000/- as cost of litigation. The compliance of the order be made within a period of 30 days from the date of receiving the copy of this order. Copies of this order be sent to the parties concerned, free of costs.  File be consigned to the record room after due compliance. 

 

Announced on: 14.11.2018    

                                                                                                                  

 

          (Pushpender Kumar)    (Dr.Sushma Garg) (D.N.Arora)

               Member                       Member             President

                                                                 District Consumer Disputes                                                                       Redressal Forum, Ambala.