Tamil Nadu

North Chennai

76/2014

S.Prabhakaran - Complainant(s)

Versus

Rep by its Branch Manager,Muthoot Finance - Opp.Party(s)

Miss.Panimalar

01 Nov 2017

ORDER

 

                                                            Complaint presented on:  15.04.2014

                                                                Order pronounced on:  01.11.2017

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, CHENNAI (NORTH)

    2^nd Floor, Frazer Bridge Road, V.O.C.Nagar, Park Town, Chennai-3

 

        PRESENT: THIRU.K.JAYABALAN, B.Sc., B.L.,        PRESIDENT

              THIRU. M.UYIRROLI KANNAN B.B.A., B.L.,      MEMBER - I

 

WEDNESDAY  THE 01^st   DAY OF NOVEMBER 2017

 

C.C.NO.76/2014

 

 

S.Prabhakaran,

S/o.R.Sambandam,

No.7, Narayanasamy Garden,

Kodungaiyur,

Chennai – 118.

                                                                                    ….. Complainant

 

..Vs..

Muthoot Finance

A Registered Company,

Rep by its Branch Manager,

Sembium Branch,

Door No.15/1, Madhavaram High Road,

Opp. To Simpson Company,

Chennai – 600 011.

.....Opposite Party

Date of complaint                                 : 16.04.2014

Counsel for Complainant                      : M/s. M.Panimalar

Counsel for Opposite Party                      : Mr.S.Govindaraju

 

 

 

 

 

O R D E R

 

BY PRESIDENT THIRU. K.JAYABALAN B.Sc., B.L.,

          This complaint is filed by the complainant to pay a total sum of Rs.40,000/- towards compensation for mental agony with cost of the complaint u/s 12 of the Consumer Protection Act.1986.

1.THE COMPLAINT IN BRIEF:

          The complainant is a customer of the opposite party and the opposite party is the registered finance company under the companies act. The complainant entered into a account with the opposite party to purchase 4 gold coins and out of four coins, 3 coin is weighing 10 grams each and one coin weighing 4 grams. The particulars of the said 4 transactions is as follows:

i.Customer No.03701800000 maturity date 15.12.2013 Maturity amount Rs.34,584/- coin booked  10 gms.

ii. Customer No.VMKV 03701800007 Maturity date: 18.01.2014 Maturity amount Rs.13,704/- coin booked 4 gms.

iii. Customer No.03711800011 Maturity date 27.112013 Maturity amount Rs. 36,372/- coin booked 10 gms.

iv. Customer No.VMKV No.03018000023 Maturity date 17.042014 Maturity amount Rs.28,788/- coin books 10 grams.

          2. For the above said transactions the complainant has to pay installments to the opposite party month after the month. However, the opposite party called upon the complainant to pay a further sum of Rs. 500/- per month towards the additional taxes. At the time of signing agreement, the complainant was told to pay monthly installment as per the schedule. Therefore, it is not fare on the part of the opposite party insisting the complainant to pay additional amount of Rs.500/- per month from the month of April 2017. The complainant explained to the opposite party that he is not liable to pay the additional amount of Rs.500/- per month for each transaction. Since the opposite party has not responded to his words, the complainant issued a lawyer notice dated 21.10.2013 to the opposite party that he is doing unfair trade practice and he was put to mental agony. Therefore the complainant filed this complaint  to direct the opposite party to receive the balance monthly installment amount without any additional amount to hand over 34 grams of gold coin and also to pay a total sum of Rs.40,000/- towards compensation for mental agony with cost of the complaint.

3. WRITTEN VERSION OF THE  OPPOSITE PARTY IN BRIEF:

          The opposite party is a registered company and it was under the control of the Reserve Bank of India. The terms and condition of the scheme thoroughly gone by the complainant and then only he entered this scheme. The decisions of the management of M/s.Muthoot Precious Metals Corporation shall be final with respect to the scheme. The opposite party issued pass books to the complainant and mentioned the terms and conditions as follows: Any increase/additions in Taxes/Duties and making charges after joining the scheme such change will have to be borne by the customer. Every bills filed by the complainant, it was mentioned clearly “any change/addition of tax, duty and making charges after joining the scheme such amount will be paid by the customer” and it was well known by the complainant. The intention of the complainant is to extract money from the opposite party. The complaint is filed with the malafide intention of defaming the opposite party and making unjust enrichment. The complaint is liable to be dismissed as devoid of merit with cost.

4. POINTS FOR CONSIDERATION:

          1. Whether there is deficiency in service on the part of the opposite party?

          2. Whether the complainant is entitled to any relief? If so to what extent?

5. POINT NO :1 

          It is an admitted fact that the opposite party/ Muthoot Finance is registered under the Companies Act and the complainant is a customer of the opposite party and the complainant entered agreement with the opposite party to purchase 4 gold coins under MKV schemes and  out of them, three coins each weighing 10 grams and one coin weighing 4 grams and to purchase each coin monthly payment shall be made by the  customer as per the schedule of payment given to the complainant.

          6. The contention of the complainant is that while he was regularly making payment for the 4 coins, the opposite party called upon the complainant to pay further sum of Rs.500/-  per month towards additional taxes from the month of August 2013 to till the end of the installment period.

          7. The opposite party would contend that as per the agreement entered between the parties, under clause:9 all taxes  and duties and making charges on the date of purchase will be applicable till the end of the scheme and therefore the additional taxes demanded by the opposite party is nothing wrong and the complainant not only to pay the additional taxes and also have failed to pay the entire monthly installments and therefore prays to dismiss the complaint. 

          8. The complainant marked Ex.A1 series contains schedule of payment list and also receipts issued by the opposite party for the monthly payments made by the complainant in respect of a 10 grams coin in customer No.03711800011.  The maturity amount is at Rs.36,372/- and the said amount has to be paid in 12 installments at the rate of Rs.3,031/- per month commencing the 1^st installment on 27.11.2012  and ending the 12^th installment on 27.10.2013.. The complainant  had paid the 1^st installment on 27.11.2012 a sum of Rs.4,257/- and thereafter he paid for 10 months at the rate of Rs.3,031/- per month and thus he had totally paid a sum of Rs.34,567/- against the due amount of Rs.36,372/-. Therefore the complainant in respect of the above said customer number he is due to pay a sum of Rs.1,805/- to the opposite party for booking 10 grams coin.

          9. The complainant marked Ex.A2 series contains schedule of payment list and also receipts issued by the opposite party for the monthly payments made by the complainant in respect of a 4 grams coin in customer No.03701800007.  The maturity amount is at Rs.13,704/- and the said amount has to be paid in 12 installments at the rate of Rs.1142/- per month commencing the 1^st installment on 18.01.2013  and ending the 12^th installment on 18.12.2013. The complainant had paid the 1^st installment on 18.10.2013 a sum of Rs.1,604/- and thereafter he paid for 8 months at the rate of Rs.1,142/-/- per month and thus he had totally paid a sum of Rs.9,136/-  as against the due amount of Rs.13,704/-. Therefore the complainant in respect of the above said customer number he is due to pay three month installments to a tune of Rs.4,568/- to the opposite party for booking 4 grams coin.

          10. The complainant marked Ex.A3 series contains schedule of payment list and also receipts issued by the opposite party for the monthly payments made by the complainant in respect of a 10 grams coin in customer No.037018000001.  The maturity amount is at Rs.34,584/- and the said amount has to be paid in 12 installments at the rate of Rs.2,882/- per month commencing the 1^st installment on 15.12.2012  and ending the 12^th installment on 15.11.2013. The complainant  had paid the 1^st installment on 15.12.2012 a sum of Rs.4,047/- and thereafter he paid for 8 months at the rate of Rs.2,882/- per month and thus he had totally paid a sum of Rs.27,103/- against the due amount of Rs.34,584/-. Therefore the complainant in respect of the above said customer number he is due to pay three month installments to a tune of Rs.7,481/- to the opposite party for booking 10 grams coin.

          11. The complainant marked Ex.A4 series contains schedule of payment list and also receipts issued by the opposite party for the monthly payments made by the complainant in respect of a 10 grams coin in customer No.037018000023.  The maturity amount is at Rs.28,782/- and the said amount has to be paid in 12 installments at the rate of Rs.2,399/- per month commencing the 1^st installment on 17.04.2013  and ending the 12^th installment on 17.03.2014. The complainant  had paid the 1^st installment on 17.04.2013 a sum of Rs.3,370/- and thereafter he paid for 5 months at the rate of Rs.2,399/- per month and thus he had totally paid a sum of Rs.11,995/- against the due amount of Rs.28,788/-. Therefore the complainant in respect of the above said customer number he is due to pay 6 month installments to a tune of Rs.13,423/- to the opposite party for booking 10 grams coin.

          12. Therefore, the complainant as discussed above he has not paid  all the installments for all the four coins and he is still  due to pay some installments. The complainant had not taken any steps to pay the due amount of installments to the opposite party. The due period of payment was also expired in respect of all the four coins in the year 2013 & 2014. Hence the complainant committed default in payment of installments to the opposite party.

          13. The complainant would contend that the opposite party insisted  into pay additional taxes from August 2013 i.e Rs.500/- per month for each transactions and therefore he had not paid the further installments and now sought directions to direct the opposite party to hand over 34 grams coin and compensation of Rs.40,000/- to him.  The complainant’s own documents filed by him prove that he had not paid the entire installments as agreed and therefore he is a defaulter. If at all the complainant paid all the installments as per the schedule of payments filed by him, then only he would be eligible for 34 grams from the opposite party. Therefore, as we concluded above that the complainant is a defaulter, he is not entitled for any relief from the opposite party and hence, it is held that the opposite party has not committed any deficiency in service or unfair trade practice to the complainant.

14. POINT NO:2

Since the Opposite Party has not committed any Deficiency in Service, the Complainant is not entitled for any relief and the Complaint is liable to be dismissed.

          In the result the Complaint is dismissed. No costs.

          Dictated to the Steno-Typist transcribed and typed by her corrected and pronounced by us on this 01^st day of November 2017.

 

MEMBER – I                                                                PRESIDENT

 

 

LIST OF DOCUMENTS FILED BY THE COMPLAINANT:

Ex.A1 dated 27.11.2013                   Payment Slip issued by opposite party with regard  

To 30.09.2013                             to VMKV 037/1800/11

 

Ex.A2 dated 18.01.2014                   Payment Slip issued by opposite party with regard  

 To 18.09.2013                            to VMKV 037018000007

 

Ex.A3 dated 15.12.2013                   Payment Slip issued by opposite party with regard

 To 18.09.2013                            to VMKV037180000001

 

Ex.A4 dated 17.04.2014                   Payment Slip issued by opposite party with regard

 To 18.08.2013                            to VMKV037018000023

 

Ex.A5 dated 21.10.2013                   Legal Notice sent by the complainant

 

Ex.A6 dated 26.11.2013                   Reply sent by the opposite party

 

Ex.A7 dated 17.12.2013                   RPAD letter

 

 

LIST OF DOCUMENTS FILED BY THE OPPOSITE PARTY :

 

Ex.B1 dated NIL                     Terms and Conditions

 

 

MEMBER – I                                                               PRESIDENT