CONSUMER DISPUTES REDRESSAL FORUM – X

GOVERNMENT OF N.C.T. OF DELHI

Udyog Sadan, C – 22 & 23, Institutional Area

(Behind Qutub Hotel)

New Delhi – 110 016

Case No.651/2009

SH. RAJINDER PAL SINGH KOHLI,

BC-76-77, MANGOL PURI

INDUSTRIAL AREA,

PHASE-II, DELHI-110034

…………. COMPLAINANT                                                                                     

                                    VS.

THE MANAGER

RELIANCE CAPITAL LIMITED,

260-261, DEV HOUSE BUILDING,

TRIBHUVAN COMPLEX, ISHWAR NAGAR,

NEW FRIENDS COLONY,  

NEW DELHI

      …………..RESPONDENT

Date of Order: 14.03.2016

O R D E R

A.S. Yadav – President

We have heard Ld. Counsel for the parties and carefully perused the record.

It is an admitted fact that complainant has purchased a truck in the month of February 2008 by availing a loan facility of Rs.12,30,000/- from OP.  The loan was paid in two parts bearing A/c No.RLNVDEL000063156 for an amount of Rs.1,50,000/- and another loan bearing A/c No.RLNVDEL000063151 for Rs.10,80,000/- vide a loan cum hypothecation agreement dated 16.02.2008 and the said loan amount was repayable in 35 equated monthly instalments of Rs.4,923/- and Rs.35,449/- each.

It is also an admitted fact that all the cheques issued by the complainant were duly honoured on their presentation by the banker of the complainant upto the month of September 2008. 

It is submitted by Ld. Counsel for complainant that unfortunately the truck met with an accident on 01.09.2009 and was completely destroyed in the fire.  The insurance company and OP were duly informed about the same vide letter dated 01.09.2008. 

OP has not disputed that letter dated 01.09.2009 was sent to OP whereby OP was requested not to present the cheques for payment against the remaining EMIs till the finalization of the insurance claim. 

The contention of Ld. Counsel for OP is that irrespective of the fact that the truck was destroyed in the fire, complainant was under obligation to pay the EMIs till the repayment of entire loan amount.

It is also admitted fact that the claim was settled by the insurance company for a sum of Rs.8,63,500/- and the same was given to OP. 

The contention of OP was that the amount was not sufficient for foreclosure of loan.  As per statement of account dated 13.01.2010 an amount of Rs.3,11,332/- is still due and payable by the complainant.

It is an admitted fact that OP has issued loan recall notice to complainant on 05.11.2008 as complainant committed default in the payment of EMIs.  Even after the amount given by the insurance company, there was an outstanding balance of Rs.3,11,332/- as on 13.01.2010.  Complainant has failed to prove any deficiency in service on the part of OP.  There was no question of issuing no dues certificate as prayed by the complainant without clearing the outstanding loan amount.  Hence the complaint is dismissed.

            Copy of order be sent to the parties, free of cost, and thereafter file be consigned to record room.

             (D.R. TAMTA)                                                         (A.S. YADAV)

                 MEMBER                                                               PRESIDENT