BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM
VAZHUTHACAUD, THIRUVANANTHAPURAM.
PRESENT
SRI. G. SIVAPRASAD : PRESIDENT
SMT. R. SATHI : MEMBER
SMT. LIJU B. NAIR : MEMBER
C.C. No. 217/2013 Filed on 04.06.2013
Dated : 30.09.2013
Complainant:
A.R. Najeeb, A.R.Cottage, Anad P.O, Nedumangadu, Thiruvananthapuram.
(Party in person)
Opposite party:
R.M. Xpress Gold Loan, Rajeswary Towers, Near Palayam Junction, Nedumangadu, Thiruvananthapuram.
This C.C having been heard on 05.09.2013, the Forum on 30.09.2013 delivered the following:
ORDER
SMT. R. SATHI : MEMBER
The case of the complainant is that he has taken a gold loan on 28.12.2011 for an amount of Rs. 2,16,000/- by pledging 92.76 gms of gold. But he was not able to pay any amount towards principal or interest ill 28.03.2013 as he has undergone a surgery. On 28.03.2013 he paid Rs. 23,000/-, but he was informed by the opposite party that an amount of Rs. 1,20,000/- is due towards interest. The interest for the loan amount was not specified in the loan receipt or anywhere. Hence the complaint to direct the opposite party to give installments for repayment of the loan amount and to decrease the interest percentage for the said loan.
The opposite party entered appearance and filed version. The opposite party filed reply contending that the complainant had taken maximum amount by pledging the gold and he was a regular defaulter. The period given for repayment was 3 months but the complainant failed and after 6 months the opposite party sent notice as per the procedure of KML Act to remit the amount with interest. But the complainant did not turn out for repaying the loan. He has taken the loan on 28.12.2011 and had repaid only Rs. 23,000/- on 28.03.2013 which would not even come to the portion of interest. If the complainant did not repay the loan amount with interest it will cause huge capital loss for the opposite party. So he prays to consider the facts on humanitarian grounds.
Complainant filed chief affidavit and marked copy of 3 documents as Ext. P1 series. Opposite party also filed their affidavit.
The points that arise for consideration are:-
Whether this Forum has jurisdiction to entertain the complaint?
Whether there is any deficiency of service on the part of the opposite party?
Whether there is any negligence on the part of the opposite party?
Point (i):- The complaint relates to pledging of gold for Rs. 2,16,000/- and the opposite party institution is situated at Nedumangadu in Thiruvananthapuram District. Hence it is our considered view that this Forum has jurisdiction to entertain the complaint.
Points (ii) & (iii):- It has been the case of the complainant that he availed a gold loan from the opposite party on 28.12.2011 for Rs. 2,16,000/- by pledging 92.76 gms of gold ornaments. The receipts for the said loan was produced and marked As Ext. P1. The due date for repaying the loan was 28.12.2012. But the complainant had undergone heart surgery and was unable to repay the loan in time. On 28.03.2013 his wife remitted Rs. 23,000/- towards loan, but the opposite party informed her that she has to pay Rs. 90,000/- more towards interest. The complainant was unable to pay the above said amount and he approached this Forum. Moreover the complainant alleges in his affidavit that no interest was mentioned in the loan receipt. The opposite party neither in their version nor in the affidavit mentioned the interest for the loan amount. From the facts and evidence of the case it is clear that there is deficiency of service on the part of the opposite party as there was no interest mentioned on the receipt or anywhere. But the complainant is bound to repay the loan amount to the opposite party with interest. So we are of the view that equity and justice will be met if the complainant is allowed to repay the loan amount with 12% interest within 3 months from the date of receipt of this order. Until then the opposite party is restrained from taking further action. The complainant had already paid Rs. 23,000/- on 28.03.2013 and the same may also be deducted from the total.
In the result, complaint is allowed in part, thereby the complainant is allowed to repay the loan amount with 12% interest per annum within 3 months from the date of receipt of this order failing which the opposite party is at liberty to realize the dues either by selling the gold ornaments in auction or initiating appropriate proceedings under law.
A copy of this order as per the statutory requirements be forwarded to the parties free of charge and thereafter the file be consigned to the record room.
Dictated to the Confidential Assistant, transcribed by her, corrected by me and pronounced in the Open Forum, this the 30th day of September 2013.
Sd/-
R. SATHI : MEMBER
Sd/-
G. SIVAPRASAD : PRESIDENT
Sd/-
LIJU B. NAIR : MEMBER
jb
C.C. No. 217/2013
APPENDIX
I COMPLAINANT'S WITNESS :
NIL
II COMPLAINANT'S DOCUMENTS :
P1 - Copy of GL No. GL00037/11 dated 28.12.2011 issued by
opposite party for Rs. 1,28,000/-
Copy of GL No. GL00038/11 dated 28.12.2011 issued by
opposite party for Rs. 23,000/-.
Copy of GL No. GL00035/11 dated 28.12.2011 issued by
opposite party for Rs. 65,000/-
III OPPOSITE PARTY'S WITNESS :
NIL
IV OPPOSITE PARTY'S DOCUMENTS :
NIL
Sd/-
PRESIDENT
jb
