KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION VAZHUTHACAUD, THIRUVANANTHAPURAM
APPEAL 510/04 JUDGMENT DATED.15.03.08
PRESENT:- JUSTICE SRI.K.R.UDAYABHANU : PRESIDENT SMT.VALSALA SARANGADHARAN : MEMBER 1.Assistant Manager, Kerala State Financial Enterprises Ltd., Ambalapuzha.
2. Manager, Kerala State Financial Enterprises Ltd., : APPELLANTS Ambalapuzha. (By Adv.V.K.Mohankumar) Vs P.S.Balachandran, Pozhikkadavil House, Kuthirapandi Ward, Thiruvambady PO., : RESPONDENT Alappuzha – 688 002. By Adv.Sivakumar (amicus curiae) JUDGMENT SMT.VALSALA SARANGADHARAN: MEMBER The above appeal is preferred from the order dated.11.5.04 passed by the CDRF, Alappuzha in OP.No.205/03. The complaint was filed by the respondent herein as complainant against the appellants as opposite parties. 2. Briefly stated the facts of the case are that the complainant joined the chitty conducted by the appellant, KSFE on 7.5.99. On 16.8.01 the complainant submitted the NCL loan application for an amount of Rs.95,000/-. The loan was sanctioned and the opposite parties told the complainant to remit documentation charges. Only Rs.94250/- was given as loan amount to the complainant instead of Rs.95,000/- and on 10.7.03 the 51st instalment of the chitty was prized in favour of the complainant. As the title deeds were pledged with the opposite parties, the complainant had produced encumbrance certificate on 14.7.03 and again on 28.7.03. Opposite parties asked the complainant to remit interest for a period of 15 days at the rate of 16% for Rs.1,40,000/- for getting the prize money. They also charged Rs.60 as documentation fee. Even after getting the lot the opposite parties realised the interest on NCL loan at the rate of 16% though the interest on the loan was reduced from 16% to 13% by a circular dated.1.4.03. 3. The complainant filed complaint before the Forum to realise the excess interest on the NCL loan after getting the lot and excess 3% interest collected from 1.4.03 and also to realise the interest for the amount of Rs.1,40,000/- from 10.7.03 to 12.8.03 and cost. The lower forum thereby passed the impugned order directing the opposite parties to refund the interest for the amount of Rs.1,40,000/- for a period of 34 days at the rate of 16%, to refund the interest on the NCL loan of Rs.1265/- and cost of Rs.300/-. Hence the present appeal by the opposite parties in OP.205/03. 4. The opposite parties in their version admitted that the complainant was the 37th chital of chitty No.5/99. On 13.11.01 the opposite parties sanctioned the NCL loan for Rs.95,000/- to the complainant and the title deed of the complainant’s property was received as the security for the payment of the loan. When the chitty was prized in favour of the complainant he requested the opposite parties to receive the same title deeds as security for the prized money. After submitting all the documents the complainant received the prized money on 12.8.03. The appellant contended that as per proceedings after 30 days of auction the prize money will be payable to the chital without interest. If the prize money is paid within 30 days the opposite parties can collect interest on that amount. On 1.4.03. the loan interest was reduced from 16 % to 13% , but this benefit is applicable only to those who received the loan amount on or after 1.4.03. Here the complainant received the loan amount on 13.11.01. So he can not claim this benefit. 5. The evidence adduced consisted of testimony of PW1, Exts.A1 to A8 and RW1; Exts.B1 to B3. 6. We heard the counsel for the appellant and amicus curiae appointed for the respondent/complainant and perused the records. 7. The question which arise for our consideration is as to whether there occurred any deficiency in service on the part of the KSFE in the matter of disbursement of the prize money and taking interest on the NCL loan. On going through the records it is seen that the chitty was prized in favour of the complainant on 10.7.03 and after submitting all the documents he received prize money on 12.8.03. If that be so, the appellants can not be found fault with. There is nothing on record to show that there was deficiency in service on the part of the appellants in the disbursement of the prize money. The lower forum failed to appreciate the evidence available on record in its correct perspective. There is no case for the complainant that he paid interest twice for the month of July 2003 and there is no case that the appellant/KSFE that they collected interest twice for the loan amount with respect to the month of July 2003. The mere fact that the KSFE issued receipts with dates 7.7.03, 30.07.03 would not show that the said amounts covered by those two receipts were receiving by way of interest for the month of July 2003. Moreover, the complainant has not produced the receipt for the payment of interest for the month of May 2003. This circumstance would give an indication that out of the two receipts one might have been issued for the payment for the previous month. Had there been any such collection of interest twice there should have been such a case to the complainant. So the Forum can not be justified in coming into the conclusion that there was repeated realization of interest by the appellant/KSFE. The Forum below has ordered the KSFE to refund the interest which was collected on the NCL loan after the prizing of the chitty in favour of the complainant. It is to be noted that the date of drawal of the chitty can not be taken as the due date of payment of the prized amount. 8. The circular produced from the side of KSFE would make it clear that they are not expected to disburse the prized chitty amount within 30 days. On the other hand, the circular would make it clear that the subscriber who got the lot in his favour can claim the prize amount only after the lapse of 30 days from the date of draw. If that be the position the KSFE can very well collect the interest on the NCL even after the date of draw of the chitty in favour of the complainant as a subscriber. So we have no hesitation to set aside the order passed by the lower forum directing KSFE to refund the interest for the amount of Rs.1,40,000/- for a period of 34 days, to refund interest on the NCL loan for one month etc. In the result the appeal is allowed. The impugned order dated.11.5.04 of CDRF, Alappuzha in OP.205/03 is set aside. Considering the facts and circumstances of the case, the parties to this appeal are directed to suffer their respective costs.
VALSALA SARANGADHARAN: MEMBER
JUSTICE K.R.UDAYABHANU: PRESIDENT
R.AV | 
