Per Mr.H.K.Bhaise, Hon’ble Member
1) The complainant has filed this complaint U/s 12 of the Consumer Protection Act, 1986. According to the complainant, she entered into an agreement for sale on 18th December, 2009 with Lodha Builders Private Limited for purchase of flat for `12,56,580/-. She approached the O.P.No.1 in January-2010 for housing loan. On 14th January, 2010, the O.P.No.1 issued principle approval letter through the O.P.No.2. The complainant submitted that all the necessary documents were supplied to the office of the O.P.No.1 by the end of January-2010. Thereafter, on 5th March, 2010, the O.P.No.1 issued sanction letter and agreed that disbursement will be made directly to the Builder as per stage of construction. On 12th April, 2010, Builder raised a bill of `7,55,205/- and the same was forwarded to the O.P.No.1 for disbursement. The Opponents did not disburse the amount. On 22nd April, 2010, the Builder sent another letter to the complainant for payment of `8,18,034/- with interest of `16,754/-. Despite the repeated reminders, the Opponents failed to disburse the amount. Due to negligence of the Opponents, the complainant was put to a lot of hardship. On 29th April, 2010, the complainant addressed a letter to the customer grievance sell of the Opponents but there was no reply. As the Opponents failed to disburse the amount, the complainant was compelled to break her fixed deposits prematurely from her personal account. She paid amount of `7,55,205/- on 26th April, 2010 and `62,829/- on 5th May, 2010 to the Builder from her fixed deposit. After several visits with Opponents, the complainant received reimbursement of `7,55,205/- by cheque dated 8th May, 2010 and `62,829/- dated 18th May, 2010. Due to delay by the Opponents, the complainant suffered loss of interest due to premature encashment of fixed deposits. She could not attend her job as she was visiting the office of the Opponents for several times. Therefore, the complainant has filed this complaint for reimbursement of `57,086/- for the loss of interest alongwith interest at the rate of 18% per annum. She has also claimed amount of `7 Lakhs towards compensation for mental agony. She has prayed for cost of `50,000/-.
2) The Opponents filed written statement. According to the Opponents, the complainant approached the Opponents office in the first week of January-2010 for general enquiries of housing loan. The Opponents issued formal letter dated 14th January, 2010. It was subject to legal and technical clearances and the rules of S.B.I. as applicable. It is denied that necessary documents were submitted at the end of January-2010. The complainant submitted housing loan application on 5th February, 2010. Some of the documents were submitted on 4th March, 2010. Housing of loan of `10 Lakhs was advised to the complainant subject to satisfactory compliance of terms and conditions mentioned in the letter. In para 11 of the sanctionletter, it is clearly mentioned that documents should be executed before disbursement. The complainant was required to sign a declaration about agreeing the terms and conditions set out in the sanction letter. The complainant accepted the terms and conditions as late as 6th May, 2010. The affidavit of declaration and indemnity in respect of the home loan was submitted on 6th May, 2010. Deed of undertaking as well as Memorandum of loan agreement was executed by the complainant on 6th May, 2010. The confirmation letter relating to equitable mortgage was given on 7th May, 2010. It is denied that the complainant was following up the matter with the Opponents regularly. The letter dated 22nd April, 2010 from Lodha Builders was forwarded to the Bank on 8th May, 2010. Thus, there was no proper compliance by the complainant.
3) The Bank money is the public money and Bank is required to take adequate precautions. The complainant herself was negligent. There was no delay by the Opponents. Therefore, the complainant is not entitled for the relief as prayed.
4) After hearing all the parties and going through the record, following points arise for our consideration.
POINTS
Sr. No. | Points | Findings |
1) | Whether there is deficiency in service on the part of the Opponents ? | No |
1) | Whether the complainant suffered loss due to negligence/delay by the Opponents ? | No |
2) | Whether the complainant is entitled for the relief as prayed ? | No |
3 | What Order ? | As per final order |
REASONS
5) As to Point No.1 :- It is admitted fact that the complainant approached the Opponents and the Opponents issued letter dated 14th January, 2010 and in principle sanctioned of housing loan of `10 Lakhs. As per this letter, it was necessary for the complainant to file loan application within 30 days. The loan application of the complainant is on record. It is dated 25th February, 2010. It is also admitted fact that the O.P./Bank sanctioned loan and issued loan sanction letter dated 5th March, 2010. The same is on record. As per this sanction letter, the complainant was required to execute the documents before the disbursement of the loan amount i.e. term loan agreement for home loan, Affidavit and confirmation letter in respect of equitable mortgage. Conditions for disbursement of loan amount are also given in the sanction letter. It was necessary for the complainant to execute confirmation letter before disbursement of loan amount. According to the complainant, all the documents were executed in favour of the Opponents and necessary formalities were completed. Copies of those documents are produced on record by the O.P./Bank. On perusal of it, it is clear that the complainant executed acceptance of terms and conditions of the housing loan on 6th May, 2010. She executed affidavit of declaration and indemnity on 6th May, 2010. She filed affidavit of security on 6th May, 2010. She had executed deed of undertaking on 6th May, 2010. She submitted memorandum of loan agreement on 6th May, 2010. She issued confirmation letter to the Opponent/Bank on 7th May, 2010. Thus, all the documents required under sanction letter before disbursement of loan amount were executed on 6th May, 2010. The loan amount was disbursed on 8th May, 2010. It shows that the complainant herself failed to execute the necessary documents and therefore the loan amount was not disbursed to her. The loan amount was disbursed by the Opponent/Bank immediately on executing necessary documents.
6) According to the complainant all the necessary documents were executed as per the sanction letter but the complainant had not disclosed as to when those documents were executed. There is no proof to corroborate the submission of complainant. On the other hand, documents on record show that all the documents were executed on 6th May, 2010 and the loan was disbursed on 8th May, 2010. All the terms and conditions and also requirement of execution of document were mentioned in the sanction letter itself. Therefore, it was necessary for the complainant to act upon it before claiming disbursement.
7) It is submitted by learned advocate for the Opponents that bank money is public money. Public money can not be disbursed unless the terms and conditions are fulfilled. The learned advocate for the Opponents has placed reliance on the judgment of Hon’ble National Commission reported in 2003 STPL (CL) 397 (NC). As per this judgment bank has to safeguard interest of public money and unless conditions are fulfilled loan amount can not be disbursed. According to the learned advocate for the Opponent there was no deficiency in service by the Opponent and the complainant herself was negligent. Therefore, the Opponent/Bank is not responsible for the loss suffered by the complainant. For this purpose he has placed reliance on the judgment of Hon’ble National Commission reported in 2011 (3) CPR 520 (NC).
8) Thus, from the above discussion, it is clear that there was no deficiency in service by the Opponents. The complainant herself failed to comply the conditions of sanction letter. Therefore, she can not claim compensation from the Opponents. Hence, the following order.
O R D E R
Complaint stands dismissed
Parties to bear their own costs.
Pronounced
Dated 31st August, 2013
