DATE OF FILING : 7.12.2011
BEFORE THE CONSUMER DISPUTES REDRESSAL FORUM, IDUKKI
Dated this the 27th day of April, 2012
Present :
SRI. LAIJU RAMAKRISHNAN PRESIDENT
SMT. BINDU SOMAN MEMBER
SMT. LIZAMMA ABRAHAM. K. MEMBER
CC NO. 251/2011
Between
Complainant : Shaji P.A. S/o Aliyar,
Pattammavudiyil House,
Mannamkala, Adimali P.O.,
Idukki District.
(By Advs : Jose Thomas
& Padayattee Yeldo)
Opposite Party : The Manager,
Shriram Transport Finance Company Ltd,
Kattappana,
Idukki District.
(Administrative Office :
101-105, SHV Chambers,
Sector - 11, C.B.C. Bellapur,
Navi Mumbai – 400614.
with Registered Office at
123 Angppa Naicken Street,
Chennai – 600001.)
(By Adv: Babichen V. George)
O R D E R
SRI. LAIJU RAMAKRISHNAN (PRESIDENT)
The complainant purchased a tipper lorry bearing Reg. No.KL7 A/C 1951, on 25.07.2010, manufactured in the year 2001, with the financial aid of the opposite party. On agreeing upon the terms and conditions, the complainant arranged finance from the opposite party for a total sum of Rs.3 lakhs on 9.8.2010. The agreement was entered at Adimali branch and an amount of Rs.2,97,000/- was given to the petitioner as Demand Draft from State Bank of India. An excess amount of Rs.1,974/- was noted in the book of loan account maintained with the opposite party. Apart from that the opposite party received a sum of Rs.3,000/- towards documentation expenses and promised to give receipt, but not delivered. So they have received Rs.4,974/- as initial charge. They have also received 5 signed blank cheque leaves from the Federal Bank, Adimali branch along with signed blank stamp paper purchased in the name of the petitioner for Rs.100/-. They also entrusted
(cont.....2)
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4 signed blank cheque leaves from the S.B. Account of the guarantor Mr. Dileep and a blank stamp paper signed by the guarantor. The loan EMIs were 24 and in the first month it was Rs.18,700/- and rest instalments were of Rs.16,312/-. The loan was actually disbursed on 28.9.2010. The complainant promptly paid 10 monthly instalments till 6.7.2011 through the agents of the opposite party and temporary receipt was issued only for the amount collected Rs.16,312/- on 20.12.2010 and the copy of the receipt is also produced. Another receipt was issued on 22.1.2011 for an amount of Rs.16,400/- and a copy of the same is also produced. On 13.5.2011 a receipt was issued for Rs.16,312/- and the copy of the same produced. Copy of the receipt issued on 5.7.2011 for an amount of Rs.16,300/- was also produced. Without issuing receipts, agents of the opposite party collected amounts Rs.16,312/- on 16.10.2010, Rs.16,400/- on 13.11.2011, Rs.16,312/- on 25.2.2011, Rs.14,200/- on 31.3.2011 and on 19.4.2011, Rs.16,312/- on 20.6.2011. In those receipts, it is written that “this receipt is valid for 7 days from the date of issue and gets cancelled on issue of official receipt. If you do not receive the official receipt within 10 days, please contact our branch office immediately”. The opposite party never cared to issue the same. Out of the total loan of Rs.3 lakhs, an amount of Rs.1,79,960/- has been paid back but again the opposite party demanded Rs.2,90,000/- and the opposite party has no right to do the same. While the complainant approached the opposite party office on 23.11.2011, for closing the loan, the opposite party never turned up. The complainant's father is an acute cancer patient under going on treatment. For treatment, the complainant needs to sell the vehicle after closure of loan with the opposite party. But the opposite party never permitted the complainant to close it down and every delay caused mental agony and the complainant is entitled to get damages estimated at Rs.35,000/-. Now the opposite party is trying to seize the vehicle by taking law in their hands and the hired goundas of the opposite party attempted to take away the vehicle by force. So this petition is filed for getting the
settlement of the account of the loan availed by the complainant and also for getting the receipts for all the amount received from the complainant.
2. As per the written version filed by the opposite party, it is stated that the loan amount advanced to the complainant was Rs.3,01,974/-. But it is true that Rs.2,97,000/- was disbursed to the complainant. Out of this Rs.4,974/- and Rs.3000/- were the processing and documentation charge and Rs.1,974/- was insurance coverage for the loan period of 2 years. It was explained to the complainant at that time itself. It is also admitted that the loan amount is scattered into 24 instalments. But the 1st instalment was Rs.18,697/- and following 22 instalments were Rs.16,312/- each and the last instalment was Rs.16,303/-. An agreement was signed by both the parties on 9.8.2010. The complainant never paid 10 instalments to the opposite party. The complainant paid 5 instalments as per the receipts produced along with the complaint. Besides that Rs.16,312/- was paid on 25.2.2011 and Rs.14,200/- was paid on 31.3.2011. Only 7 remittances have been made by the complainant. So the total
(cont....3)
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amount of Rs.1,14,536/- has been paid by the complainant through 7 remittances for which proper receipts were also issued. The loan was sanctioned with an interest of 22.5% for 2 years and he undertook to pay the total agreement value of Rs.3,93,864/- in 24 monthly instalments commencing from 20.9.2010. The petitioner made heavy default in repayments of the instalments from the very beginning. As on 19.12.2011, the petitioner has to pay Rs.2,47,065/- as instalments but only an amount of Rs.92,242/- has been paid as instalments. The complainant is not ready to surrender the vehicle even after several requests. As per the accounts maintained by the opposite party company, an amount of Rs.1,17,536/- was collected which includes the service charge of Rs.3,000/-. The opposite party has paid the insurance for the vehicle which amounts to Rs.27,561/-. Out of this, the petitioner has remitted only Rs.22,294/- as insurance amount. Still Rs.5,267/- is due to the opposite parties as balance insurance amount. So Rs.3,31,246/- is due as on 19.12.2011 from the complainant. So this petition is not at all maintainable.
3. The point for consideration is whether there was any deficiency in service from the part of the opposite parties, and if so, for what relief the complainant is entitled to ?
4. No oral evidence adduced by both the parties. Exts.P1 to P6 marked on the side of the complainant and Exts.R1 to R3 marked on the side of the opposite parties. Heard from both counsels.
5. The POINT:- Learned counsel for the complainant produced the repayment sheet of the complainant's loan which is in 24 EMI started with first instalment as Rs.18,697/- on 20.9.2010 and the next instalments were Rs.16,312/- each from 20.10.2010 to 20.7.2012 and the last instalment was Rs.16,303/- on 20.8.2012. The receipts also issued for the payment of Rs.18,700/-dated 28.9.2010 which is marked as Ext.P2. The receipt for the payment of Rs.16,312/- dated 20.12.2010 is marked as Ext.P3 and Ext.P4 is the receipt for the payment of Rs.16,400/- dated 22.1.2011. Ext.P5 is the receipt for the payment of Rs.16,312/- dated 13.5.2011 and another receipt for Rs.16,300/- dated 5.7.2011 is marked as Ext.P6. So the total amount paid is Rs.84,024/-. But the learned counsel for the complainant argued that they have paid 10 instalments to the opposite party. So a total amount of Rs.1,63,648/- has been paid to the opposite party. But only 5 receipts were issued to the complainant by the opposite party. They collected the amount from the complainant, so that the complainant approached the opposite party office at Kattappana, but they also never issued any receipt for the same. The complainant is ready to close the loan account of the opposite party.
As per the opposite party, the complainant paid only 7 instalments to the opposite party and so that an amount of Rs.1,14,536/- has been collected from the
(cont.....4)
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complainant, proper receipts were issued for the same. All the details were given in Ext.R3 which is the statement of the remittances of the complainant's loan. Ext.R2 is the statement of account of the complainant's loan produced by the opposite party. The hypothecation agreement of the loan is produced and marked as Ext.R1. It is submitted by the learned counsel for the opposite party that Rs.5,267/- is due as insurance premium amount from the complainant for which the total amount is Rs.27,561/- and the complainant paid only Rs.22,294/- for the insurance amount.
As per the complainant, the opposite party have never issued receipt for the payment for the balance 5 instalments. But it is admitted by the opposite party themselves that the complainant paid 7 instalments, eventhough the complainant never produced the receipt for the same. Eventhough the learned counsel for the complainant argued that the receipts were issued for the payment on 20.12.2010, 22.01.2011, 13.05.2011 and on 05.07.2011 so that the complainant had regularly paid the instalments, but the receipt for the instalments in between the dates were not at all produced. But the receipts never shows the number of instalment, in which the payment date and amount and name of the collecting agent and the number of the vehicle are written. So on perusing the receipt issued by the opposite party, it never shows that the complainant paid the instalments promptly upto 2010. If the opposite party denied to issue the receipt for the same, what prevented the complainant to file a complaint against the opposite party before the appropriate authority. No such a complaint has been done by the complainant, after the deny of receipt, again the complainant paid the amounts to the opposite party. It clearly shows that on 22.1.2011 the complainant paid Rs.16,400/-. After that the complainant paid Rs.16,312/- on 13.5.2011 and also on 5.7.2011, he paid Rs.16,300/-. If the receipts for the instalments in the month of 2/2011, 3/2011 and of 4/2011 were not issued by the opposite party, the complainant again paid an amount of Rs.16,312/- on 13.5.2011 and also paid on 5.7.2011 an amount of Rs.16,300/-. It may be true that the opposite party charged hike interest for the loan amount received by the complainant while the complainant approached the opposite party for closing the loan. It is also stated by the learned counsel for the complainant that the opposite party never produced the statement of account while the complainant approached for the same. The main prayer of the complainant is also the same. So we think that it is a gross deficiency from the part of the opposite party to deny the same. The complainant is also ready to settle the loan account of his vehicle. It is argued by the learned counsel for the opposite party that they are entitled to collect an interest of 22.5% from the complainant, as per the hypothecation agreement, Ext.R1. But the opposite party never produced any order from the Government or RBI to substantiate the same. So we think that the opposite party should settle the loan account of the complainant's vehicle with 12% interest for the due instalments for the period of due. The opposite party already calculated the interest for the entire loan and it is divided into 24 monthly instalments. So that they can collect only 12% interest per annum
(cont....5)
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for the due instalments or for any amount due by the complainant. The statement of account of the complainant is already produced by the opposite party as Ext.R2, before this Forum.
Hence the petition partially allowed. The opposite parties are directed to settle the loan account of the complainant's vehicle with 12% interest per annum for the due instalments for the period of due.
Pronounced in the Open Forum on this the 27th day of April, 2012
Sd/-
SRI. LAIJU RAMAKRISHNAN (PRESIDENT)
Sd/-
SMT. BINDU SOMAN (MEMBER)
Sd/-
SMT. LIZAMMA ABRAHAM. K. (MEMBER)
APPENDIX
Depositions :
Nil.
Exhibits :
On the side of the Complainant :
Ext.P1 - Repayment schedule of the loan account.
Exts.P2 to P6 - Receipts issued by the opposite party for the payments – 5 Nos.
On the side of the Opposite Party :
Ext.R1 - Copy of the loan cum hypothecation agreement.
Ext.R2 - The statement of account of the complainant's loan.
Ext.R3 - The statement of the remittances of the complainant's loan.
