DATE OF FILING : 20/10/16 

IN THE CONSUMER DISPUTES  REDRESSAL FORUM, IDUKKI

Dated this the 30th  day of January 2018

Present :

SRI. S. GOPAKUMAR PRESIDENT

           SRI. BENNY. K. MEMBER

CC NO.  285/16

Between

Complainant       : Reji John, S/o John,

                                                                           Chirackal House,

                                                                           Nettithozhu P.O.,

                                                                           Idukki District.

        (By Adv: Sijimon K. Agustine)

And

Opposite Party                                   :  1 . M/s Shriram Transport Finance Company Ltd.,

                                                                      Kattappana Branch,

                                                                      Chennattumattom Junction,

                                                                       Kattappana.

                                                               2 .  M/s Shriram Transport Finance Company Ltd.,

                                                                     101-105, 1st  Floor, Shiv Chambers,

                                                                     Sector -11, C.B.D, Bepapur, 

                                                                     Navi Mumbai – 400614.

  (Both By Adv: Gem Korason)

 

O R D E R

SRI. BENNY. K.  (MEMBER)

 

The complainant had availed a loan for Rs.1,25,000/- from the opposite parties and had agreed to repay the said amount with 36 monthly instalments of Rs.4937/- each starting from 20/11/12.  Towards security for the loan, the opposite parties  obtained signature of the complainant and his guarantor, on various papers including printed, stamped, blank and also collected blank cheque leafs.  Even though, the complainant remitted the instalments regularly, the opposite parties demanded more money is violation of agreed terms.  As per the statement of account the entire loan instalments were paid and on 09/07/16 the opposite parties collected Rs.2,62,893/- from the complainant.  The opposite parties  has no right to collect any amount more than the agreed amount as default and penal interest.  The opposite party has no right  to  take  forceful  possession  of  the  vehicle  and  claim  such  as  an

 

                                                                                                                       (Cont...2)

-2-

 

exorbitant amount  as defaulted charges.   Hence the complainant  approached

before the Forum for restraining the opposite parties from taking forceful possession of the vehicle bearing registration No. KL -45-B-4622.

 

In there written version filed by the opposite parties had admitted that the complainant availed a loan for his vehicle No. KL- 45 B-4622.  On 20/11/12 loan was advanced as per the agreement, an amount of Rs.1,77,726/- have to be repaid by the complainant by total 36 instalments, out of this Rs.1,77,726/- an amount of Rs.1,26,720/- is the loan advance and Rs.51006/- is the interest.  The complainant thereafter remitted few instalments and did not turn up to remit balance instalments.  The complainant further availed WCL on 27/09/13 an amount of Rs.15423/-, on 11/03/15 is an amount of Rs.47,000/-, on 20/10/15 an amount of Rs.7,877/-.  The complainant promised the prompt payment of the WCL.  This opposite parties had claimed only what they are legally entitled.  The complainant is a gross defaulter and did not make any payment as per the terms of the agreement.  All the payment was made after the stipulated date, since the opposite parties is entitled to claim overdue charges.  The interest rate was specifically  stated in the loan agreement and the instalments was scheduled accordingly the complainant had affixed his signature after knowing all the terms and conditions.

 

         The point that arose for consideration is whether there is any deficiency in service from the part of opposite parties, and if so, for what relief the complainant is entitled to ?

 

        The evidence consist only documents Ext.P1 to Ext.P4 were marked from the side of the complainant and Ext.R1 to Ext.R3 marked from the side of the opposite parties.

 

Points:-  Heard, the complainant had availed a loan for Rs.1,25,000/- from the opposite parties for his vehicle Ext.P1 copy of RC book.  He had agreed to repay the amount with  36 monthly instalments of Rs.4937/- each.  Opposite parties had obtained signature of the complainant and guarantors  on various papers including blank,  printed,  stamped and also collected blank cheque leafs.  Even though  the  complainant  remitted  the  instalments  regularly  the  opposite

 

                                                                                                                           (Cont...3)

-3-

 

parties demanded more money in violation of agreed terms.  As per the statement of account the entire loan instalments were paid and as on 09/07/16  the opposite  parties  collected Rs.2,62,893/- from  the complainant.

                                                                                                                        

The opposite parties has no right to collect any amount more than the agreed amount as defaulted and penal interest, Ext.P2.  The opposite parties has no right to take forceful possession of the vehicle and claim such as exorbitant amount as defaulted charges. ( Ext.P3 and Ext.P4 statement of account).

 

    In the written version opposite parties had admitted that the complainant availed a loan of his vehicle No. KL-45B-4622.  On 20/11/12 the loan was advanced as per the agreement, an amount of Rs.1,77,726/- have to be repaid by the complainant by total 36 monthly instalments out of the 1,77,726/- an amount of Rs. 1,26,720/- is the loan advance and Rs. 51006/- is the interest.  The complainant did not turn up to remit the monthly instalments and also made default in repaying the amount.  The complainant further availed WCL on 27/09/13 an amount of Rs.47,000/- on 20/10/15 an amount of Rs.7,877/-.  The complainant hence liable to pay WCL availed by him with interest to the opposite parties.  Ext.R1 is the statement of account and Ext.R2 is the policy certificate, Ext.R3 is the data sheet dated 14/11/2016.

 

          Complainant alleges that opposite parties are demanding additional amount as default charges for the delayed interest was agreed by the complainant for the delayed payments, but the loan agreement or any other document is not produced to show that they can charge exorbitant amount for delayed payment.  The dispute is regarding the default charge.  Opposite parties has not produced any authentic documents from RBI or government to show that they can charge huge and exorbitant interest for the delayed instalments which is illegal and unjust hence we fix an interest of 12% per annum for the defaulted instalments defaulted period and cheque bonus charge as Rs.200/-.

 

      Hence petition partly allowed, the opposite parties are directed to settle the loan account of the complainant's vehicle by charging only 12% per annum for  the  defaulted  instalments  for  the  defaulted  period  and  order to return

 

                                                                                                                          (Cont...4)

-4-

 

all documents  collected  as  surety for its loan within 30 days of the receipt of the  copy of this order.

                                                                                                  

Pronounced in the Open Forum on this the 30th  day of  January, 2018.

 

                                                                                                       Sd/-

                                                                                            SRI. BENNY. K.  (MEMBER)

                                                                                                              Sd/-

                                                                               SRI. S. GOPAKUMAR (PRESIDENT)

                                                                                      

 

APPENDIX

 

Depositions :

On the side of the Complainant :

Nil

On the side of the Opposite Party :

Nil

Exhibits :

On the side of the Complainant :

Ext.P1            -  Copy of RC book

Ext.P2            -  Notice dated 27/05/2016.

Ext.P3            -  Statement of account

Ext.P4            -  Statement of account

On the side of the Opposite Party :

Ext.R1            -  Statement of account  for the period ending 14/11/2016.

Ext.R2            - Certificate cum policy schedule private car package policy – zone B

Ext.R3            - Data sheet dated 14/11/2016.

 

 

 

 

                Forwarded by Order,

 

 

                     SENIOR SUPERINTENDENT