DATE OF FILING : 18-02-2010.
DATE OF FINAL ORDER : 29-06-2010.
Sri Debabrata Banik,
residing at 38/1, Ram Mohan Mukherjee Lane,
P.S. Shibpur, District. Howrah.
PIN . 711102. Complainant.
- Versus -
Ramkrishnapur Co-Operative Bank Ltd.,
having its office at 18/1, Charu Chandra Singha Lane,
P.S. & District. Howrah,
PIN. 711101. Opposite parties.
P R E S E N T
Honble President : Shri J. N. Ray.
Honble Member : Smt. Samiksha Bhattacharya
Honble Member : Dr. Dilip Kr. Chakrabroty.
C O U N S E L
Representatives for the complainant : Shri Alok Kr. Laha,
Shri Manojit Bandyapadhyay,
Shri Pradip Dutta,
Ld. Advocates.
Representatives for the opposite party : Shri Madan Mohan Banerjee,
Shri Kalyan Roy,
Shri Aritra Saha,
Smt. Soma Roy Chowdhury,
Ld. Advocates.
F I N A L O R D E R
This is to consider an application U/S 12 of the C.P. Act, 1986 praying for return of gold deposited under o.p. and compensation on the ground of deficiency in service against o.p.
The fact of the case, in brief, is that the complainant has gold loan of Rs. 3,00,000/- from the o.p. bank on deposit of various gold ornaments being gross weight 483.010 gm. and net weight 355 gm. With the condition to repay the said amount of Rs. 3,00,000/- with interest by six installments at Rs. 50,000/-. Loan was disbursed on 22.10.2008 of loan account no. G 13657.
Complainant paid Rs. 5,000/- as interest and additional interest by cash on 12.02.2009. Again on 4th August, 2009 the complainant paid further Rs. 50,000/- by cash towards principal of Rs. 12,205/- and interest Rs. 35,045/- and additional interest Rs. 2,750/-. The complainant is not aware of claim of additional interest in the receipt dated 04-08-2009 vide receipt no. K 103673 mentioning outstanding principal is Rs. 2,87,795/-. Complainant also informed the bank that very soon pay the entire principal loan amount.
The complainant is ready to pay total amount of Rs. 2,87,795/- and interest accorded therein. Several occasions he has informed the bank. On 11.11.2009 complainant issued letter to the bank stating his willingness to pay the entire amount with interest. But the o.p. bank did not pay any heed to the request of the complainant. As A/D card of the letter has not been received by the complainant so he wrote a letter to the Postal Department for issuing a certificate of delivery. The Postal Department has certified that they have delivered the letter dated 11.11.2009 to the o.p. bank on 11.11.2009 vide letter of Postal Department dated 14.01.2010. Further complainant has sent an advocates letter by registered post with A/D and by Courier Service. As no reply has been received from the o.p. and on repeated requests the o.p. bank has not taken any step. As the complainant is ready to pay the entire amount with interest but the o.p. did not take any initiative to release the gold ornaments, the complainant has filed this praying (i) release of total gold ornaments, (ii) compensation for harassment and mental agony Rs. 5,00,000/- and (iii ) other costs. Hence the application.
The o.p. bank filed written version denying all allegations made against them. The o.p. has stated that on 22.10.2008 Rs. 3,00,000/- has been sanctioned and the condition of the gold loan was the complainant should repay the amount by six monthly installments together with interest at 17 percent thereon as may be due from time to time commencing from 22.10.2008. In the case of non payment of loan with interest as agreed upon by the complainant by executing gold loan agreement, the gold ornaments which have been deposited in the bank to be liquidated within 15 days on receipt of notice. The o.p. admitted that they have received Rs. 5,000/- on 12.02.2009 and Rs. 50,000/- on 04.08.2009 which is not the terms of the agreement. The o.p. has sent a final notice to the complainant on 05.09.2009 by registered post with A/D that the gold will be liquidated within 15 days from the date of receipt of this notice. But o.p. also stated that the said notice was return to the bank. O.p. also stated that on 04.10.2009 published a auction notice in a newspaper namely Sabarkhbar. The o.p. also intimated the publication of the news by sending a notice on 08.10.2009 through speed post with A/D but the borrower did not pay any heed to the notice. So bank has auctioned the gold and Rs. 8,691/- is lying in suspense account bearing no. G 13657 / 08 -09 of the complainant. The additional interest had been charged due to non-payment of actual monthly installment. So there is no deficiency on the part of the o.p. / bank and complainant is not entitled to get any benefit according to law.
The complainant filed affidavit with documents. The o.p. prayed for time to give counter affidavit. Date was fixed for counter affidavit on 13.05.2010, but on 13.05.2010 the o.p. again prayed for time for filing counter affidavit. The prayer is allowed with C.P. cost of Rs. 500/- fixing on 02.06.2010. Further on 02.06.2010 the o.p. bank did not file any counter affidavit or pay the C.P. Cost and pray for exemption of cost or o.p. will go to higher Forum and also submitted a questionnaire. As per order no. 7 dated 02.06.2010 heard on both sides and considering the submission of the ld. Advocate for the o.p. for preferring the revisional application before the superior authority we incline to allow the prayer with a further cost of Rs. 1,000/- as C.P.
The parties to note that on the next date the case will be heard if no other stay order is produced from the Honble State Commission.
On 22.06.2010 for payment of cost totaling Rs. 1,000 + Rs. 500 is equal to Rs. 1500/- and hearing.
On 12.06.2010 on the date of hearing the o.p. bank was absent and ex parte hearing was made against o.p.
In view of the submission of the parties following points arose for determination :
1) Have the o.ps. committed deficiency in service or adopted unfair trade practice
2) Is the complainant entitled to get any order in terms of Section 14 of the C.P. Act,
1986
DECISION WITH REASONS :
Both the points are taken up together for the sake of convenience of discussion and for brevity.
Admitted fact is that the complainant has taken gold loan of Rs. 3,00,000/- by depositing gold ornaments gross weight 483.010 gm. and net weight 355 gm. on 22.10.2008. The complainant also paid Rs. 5,000/- on 12.02.2009 and Rs. 50,000/- on 04.08.2009 which includes additional interest. Total repayable amount was Rs. 2,87,795/-.
O.p. stated in the written version that the borrower should repay the total amount including interest of at 17 percent by six installments from 22.10.2008. The bank authority has the power to liquidate or auction the gold if the borrower fails to pay within 15 days with intimation to borrower.
Complainant has given an intimation to the o.p. by letter dated 11.11.2009 which has been confirmed by the postal authority. The letter has been received by the o.p. 12-11-2009.and also other correspondence have been made through courier that the complainant is ready to pay total amount at a time. The o.p. in his written statement stated that the o.p. has made auction of the gold by intimating to the complainant and also admitted that the registered letter with A/D has been returned to the bank. The o.p. has made paper announcement on 04-10-2009. The paper news in which the o.p. has announced, the newspaper name is SABAR KHABAR. The date of auction was not mentioned and amount of auction money has not been mentioned and only stated that Rs. 8,691/- is being kept in suspense account after adjustment of the loan.
Now question arises the complainant has the liability to pay with interest the entire amount of loan with interest in six installments at 17 percent on failure of which o.p. has the power to liquidate the gold within 15 days after intimation to the borrower.
The date of payment of interest of Rs. 5,000/- on 12.02.2009 and Rs. 50,000/- ( principal Rs. 12,205/-, interest Rs. 35,045/- and additional interest Rs. 2,750/- ) on 04-08-2009. The question of additional interest failure to pay the installments in time.
Now loan was taken on 11.11.2009 and interest and additional interest etc. has been paid on 12.02.2009 and 04.08.2009. So complainant has failed to pay the installments regularly but they have received Rs. 50,000/- ( principal Rs. 12,205/-, interest Rs. 35,045/- and additional interest Rs. 2,750/- ) on 04.08.2009 that means they have received after of expiry of six months as per written version of o.p. and as there is a provision of additional interest so the question remains that the complainant can pay the installment more than six months.
For liquidation of deposited gold as stated by the o.p. bank that with intimation to the complainant/ borrower after expiry of 15 days. But the o.p. bank stated in the written version that registered letter with A/D has returned back to the concerned bank. that means the complainant has not received the notice. The news publication should be by a widely circulated paper.
Complainant has given a letter to the o.p. for repayment of total amount of loan which is denied by the o.p. but postal certificate confirmed the received of the letter by o.p. bank.
Therefore, considering the facts and circumstances of the facts having due regard to the materials on record and for the fore going reasons the Forum is of the view that the o.p. bank has committed deficiency in service and unfair trade practice by depriving the complainant. Consequently the complainant is entitled to get an order in terms of Section 14 of the C.P. Act, 1986.
Points under consideration are accordingly decided.
In the result the application succeeds.
Hence,
O R D E R E D
That the consumer compliant is allowed ex parte hearing against o.p. bank with cost.
That the o.p. bank is directed to release the gold ornaments (gross weight 483.010 gm. and net weight 355 gm.) to the complainant after receiving the loan amount with interest as on 12.11.2009. If the gold has been auctioned the o.p. bank have to pay the market gold rate as on 12.11.2009 after deducting loan amount. The payment should be made within 30 days from the date of this order.
That the o.p. bank is further directed to pay compensation amount to Rs. 50,000/- for harassment and mental agony , litigation cost of Rs. 5,000/-and Rs. 1,500/- for C.P. cost within 30 days from the date of this order failing which at 8 percent interest per annum will be calculated from the date of this order of the entire amount.
The complaint is thus disposed of.
Supply the copies of the order to the parties, free of costs.
