1. The brief history of the case of the complainant is that he obtained re-finance for his Tata Truck bearing No.CG-04G-5745 from OP and received a Cheque of Rs.2, 93,440/- dt.31.10.2009 to be repaid in EMIs @ Rs.10, 885/- on or before 05.08.2013 for a total loan amount of Rs.4, 91,007/-. It is submitted that the complainant has paid Rs.7, 02,359/- to the OP till January, 2015 but without closing loan accounts, the OP further demands Rs.3, 51, 040/- for which he sustains mental agony. With above allegations, the complainant has filed this case praying the Forum to direct the OP to refund Rs.2, 11,352/- towards excess collection with interest @ 12% p.a. and to pay Rs.3.00 lakhs towards compensation to the complainant.
2. The OP filed counter admitting the financial assistance of Rs.3.00 lakhs along with finance charge of Rs.1, 91,007/- given to the complainant on 31.10.2009 vide Agreement No. JYPORO 91031001 and the complainant agreed to repay Rs.12, 067/- for 1st installment and @ Rs.10, 885/- for rest 44 EMIs commencing from 31.10.2009 till 05.08.2013. It is contended that the complainant is a chronic defaulter of loan dues and he is liable to pay Rs.3, 51,040/- as on 13.1.2015. The Ops also further contended that the complainant has taken loan of Rs.2.00 lakhs against his other vehicle. After several requests, the complainant produced a Cheque of Rs.2, 60,000/- which was dishonored and hence a case was initiated against him U/s.138 NI Act. It is contended that due to such nonpayment of loan dues, the OP is suffering financial loss. Thus denying any fault on its part, the OP prayed to dismiss the case of the complainant.
3. Both the parties have filed certain documents in support of their cases. The complainant has filed affidavit. It is seen that the parties are not taking part in the hearing for which this case was taken up for orders on merit. We have perused the materials available on record.
4. In this case, it is an admitted fact that the complainant has availed loan of Rs.3.00 lakhs besides finance charges of Rs.1, 91,007/- aggregating the loan amount of Rs.4, 91,007 from the OP towards refinance of his vehicle bearing No.CG-04G-5745 on 31.10.2009 and it was to be repaid in 45 EMIs on or before 05.8.2013 with first installment of Rs.12, 067/- and @ Rs.10885/- for 44 EMIs. The complainant stated that he has paid Rs.7, 02,359/- till 1/2015 but the OP without closing the loan account demanding further amount of Rs.3, 51,040/- and not issuing NOC. The OP in his counter stated that the complainant is a chronic defaulter and hence as on 13.1.2015 the loan dues on the complainant is Rs.3, 51,040/-.
5. Perused the statement of accounts filed by the parties and found that the complainant was not regular in paying the loan dues. The contract period was from 31.10.2009 to 05.08.2013 but it is seen that the complainant had not cleared the loan dues by that date. The complainant stated that by 1/2015 he had paid Rs.7, 02,359/- which amount is more than the loan dues but OP is not issuing NOC. This fact clearly shows that the complainant was quite irregular in paying loan dues. Further it is seen that at times, the cheque issued by the complainant was bounced and hence the arrears go up.
6. In the hypothecation agreement time is the essence of contract and the borrower should be strictly adhering to the terms of agreement. In this case, the agreement expires on 05.8.2013 but as on that date the complainant was due to pay some loan dues. Hence the complainant should not expect NOC before clearing the loan dues. If the loan is not paid in time, the late payment charges or OD charges will definitely accrue and the OP has treated the dues as arrear. In the statement of accounts, Rs.3, 51,040/- has been shown as arrears. Both the parties are bound by the terms of agreement and the Forum cannot re-write the agreement signed between the parties.
7. In the above facts, we are of the view that the complainant has not come up with clean hands and hence his case is to be dismissed. In the result, we dismiss the case of the complainant but without costs in the peculiar circumstances of the case.
(to dict.)
