KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION VAZHUTHACAUD THIRUVANANTHAPURAM APPEAL NO.358/08 JUDGMENT DATED 10.2.2010 PRESENT JUSTICE SHRI.K.R.UDAYABHANU -- PRESIDENT SRI.M.K.ABDULLA SONA -- MEMBER 1. The President, Kollurvila Service Co-operative Bank Ltd. Q.214, Pallimukku, Kollam. 2. The Secretary, -- APPELLANTS Kollurvila Service Co-operative Bank Ltd. Q.214, Pallimukku, Kollam. (By Adv.N..P.Prabhakaran) Vs. 1. Smt.Saifunnisa, Puthukalil Veedu, Vadakkevila.P.O, Kollam. 2. The Consumer Disputes Redressal -- RESPONDENTS Forum, Kollam. JUDGMENT JUSTICE SRI.K.R.UDAYABHANU,PRESIDENT The appellant is the opposite party in CC 295/05 in the file of CDRF, Kollam. The appellant is under orders to settle the dues of the complainant as per circular No.51/03 ie; the outstanding loan amount without including contract rate of interest and the same is to be calculated with interest at the rate of 12% from the date of release of the loan and to refund the excess amount that has been paid by the complainant with interest at 9% per annum and also to pay Rs.2000/- as costs. 2. We find that the dispute is with respect to the interpretation of circular No.51/03 as per which even the lonee who have settled the loan accounts prior to the issuance of the circular ie. dated 30.8.03 are entitled for the benefits accorded as per the above circular. The complainant herein settled the transaction by payment on 20.11.02. As admitted by the appellant the amount of loan which is Rs.25,000/- was repaid with interest at 18% from 18.12.95 to 31.3.01 and thereafter at the rate of 12% from 1.4.01 till the date of repayment ie; 20.11.02. It is the contention of the appellant that the circular envisaged that the amount due as the amount with 18% interest. On reading of circular No.51/03 we are disinclined to admit the above interpretation. It is specifically mentioned in Para 1 of circular No.51/03 as the balance loan amount where as in circular No.35/08 the balance outstanding amount is mentioned as the balance loan amount and interest. Further if the interpretation of the appellant is admitted there was no further relief to be granted to persons who have already settled the transaction. The circular No.51/03 provides the benefits of the particular circular to those persons who have settled the transactions before the commencement of circular No.51/03. In the circumstances, we find that there is no scope for interference in the appeal. In the result, the appeal is dismissed. JUSTICE K.R.UDAYABHANU -- PRESIDENT M.K.ABDULLA SONA -- MEMBER | 
