KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION VAZHUTHACAUD THIRUVANANTHAPURAM FA.142/09 JUDGMENT DATED 7.10.09 PRESENT SHRI.M.V.VISWANATHAN -- JUDICIAL MEMBER SRI.S.CHANDRAMOHAN NAIR -- MEMBER SRI.M.K.ABDULLA SONA -- MEMBER 1. The Managing Director, Kerala State Co-operative Bank Co-Bank Towers, Thiruvananthapuram. 2. The Manager -- APPELLANTS Kerala State Co-operative Bank Wayanad Branch, Kalpetta. (By Adv.S.Hridya) Vs. P.Arumukhan -- RESPONDENT Parakkandy, Edappally, Kalpetta North Post. JUDGMENT SHRI.M.V.VISWANATHAN,JUDICIAL MEMBER This appeal is preferred from the order dated 29th November 2008 passed by CDRF, Waynad Kalpetta in CC No.40/08. The complaint therein was filed by the respondent herein as complainant against the appellants/opposite parties alleging deficiency in service on the part of the opposite party/Bank in enhancing the rate of interest on the loan amount from 7.25% to 9% per annum. The opposite parties entered appearance and contended that they have the right and authority to enhance the rate of interest. The complainant was examined as PW1 and the Manager of the opposite party/Bank was examined as OPW1. Ext.A1 to A14 documents have also marked on the side of the complainant. On an appreciation of the evidence on record, the Forum below accepted the case of the complainant to a greater extent and thereby passed the impugned order directing the opposite parties to charge the rate of interest at 7.25% and to tabulate the account as such. The second opposite party is also directed to refund the excess amount if any collected from the complainant with a further direction to pay cost of Rs.1,000/-. Aggrieved by the said order, the present appeal is filed. 2. When this appeal taken up for admission hearing, this Commission was pleased to issue notice to the respondent/complainant and in pursuance of the notice the respondent/complainant appeared in person. But, when the matter was taken up today on admission hearing, there was no representation for the appellants/opposite parties. On the previous hearing dates also the appellants were not ready. So, we are constrained to hear the respondent/complainant who appeared in person. It is also to be noted that the respondent is coming from Wayanad. 3. A perusal of the documents available on record would make it clear that the respondent/complainant availed a loan of Rs.4 lakhs from the second appellant/second opposite party, Kerala State Co-operative Bank, Wayanad Branch. Respondent/complainant had also executed a loan agreement in favour of the appellants and thereby he agreed to pay fixed interest at the rate of 7.25 % per annum. Admittedly, the appellants/opposite parties enhanced the rate of interest from 7.25% to 9% per annum. A perusal of the loan agreement and also the applications submitted by the loanee would make it abundantly clear that the appellants/opposite parties have no right or authority to enhance the rate of interest from 7.25% to 9% or to any other rate. It would make it clear that the respondent/complainant who availed the loan is only to bound to pay the fixed interest at the rate of 7.25% per annum. So, the action on the part of the appellants/opposite parties in demanding and collecting enhanced interest at the rate of 9% per annum is an unauthorized and highhanded action. The Forum below considered all the relevant aspects of the case and passed the impugned order directing the opposite parties to levy only the agreed rate of interest at 7.25% per annum and also to refund the excess amount collected from the complainant. We do not find any sustainable ground warranting interference in the impugned order passed by the Forum below. The present appeal lacks bonafides and merits and is liable to be dismissed at this admission stage itself. In the result, the appeal is dismissed. The respondent who is coming from far away place at Wayanad was also present in person before this Commission for the last 3 occasions. So, the appellants are directed to pay cost of Rs.500/- to the respondent/complainant. M.V.VISWANATHAN -- JUDICIAL MEMBER S.CHANDRAMOHAN NAIR -- MEMBER M.K.ABDULLA SONA -- MEMBER | 
