IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Monday the 31st day of October, 2016
Filed on 11.01.2016
Present
- Smt. Elizabeth George (President)
- Sri. Antony Xavier (Member)
- Smt.Jasmine.D. (Member)
in
C.C.No.13/2016
between
Complainants:- Opposite Parties:-
- Sri. K.G. Gopinadhan 1. Sundharam Finance Ltd.
Kunneal House No.21, Pattullos Road
Ponnad P.O. Chennai – 600 002
Mannamcheri
Alappuzha 2. Sundharam Finance Ltd.
1st Floor, Anil Bhavan
- Jaya Gopinadh, W/o Gopinadhan Near YMC., Mullackal
-do- -do- Alappuzha
(By Adv. Jeenu Abraham) (By Adv. Priyadarsan Thampi)
O R D E R
SMT. ELIZABETH GEORGE (PRESIDENT)
The case of the complainant is as follows:-
The first complainant is the owner in possession of the vehicle bearing registration No.KL-04-AE-4005 Chevrolet Thavera Neo. Complainant purchased the vehicle by availing a loan for Rs.9 lakhs from the first opposite party. The first complainant as borrower and second complainant as guarantor executed an agreement dated 28.5.2013 bearing contract No.1006000094 for the purchase of the said vehicle for total amount of Rs.9 lakhs and was repayable in 48 monthly installments commencing from 17.6.2013 and last installment ending on 17.5.2017. At the time of transaction with the opposite party, the complainant was directed to repay the loan amount 48 installments of 9 lakhs equal monthly installments of Rs.22,000/-. The complainants were further asked to affix their signature on certain printed papers. The first complainant took the loan on a condition that he would remit back the amount from his job. Unfortunately, after 4 months, his job was lost due to Inter Cerebral Hemorrhage and he was prevented from paying the installments regularly. But thereafter he paid off a substantial part of the dues. Recently, the complainants came to know that the opposite party is adjusting the amount repaid by her to illegal heads and they are not properly crediting the entire amount towards the loan account. On enquiry it is revealed that the opposite party is taking unconscionable penal interest and illegal charges for the defaulted installments without any authority. It is submitted that thought he collection agents of the opposite party in Alappuzha has received 4 monthly installments directly from the complainant, the opposite party adjusted the said amount to illegal heads and they did not issue receipts for the said payment. The opposite party even imposed 30% of additional interest illegally to the loan amount. On 1.12.2015 the opposite party approached the complainants at their home and openly declared that they were prepared to seize the plaint schedule vehicle and complainants would be visited with dire consequences unless the vehicle is produced before them. The opposite party not properly accounted the payments made by the first complainant. The complainants have spent the lion share of the loan amount for the vehicle and if the opposite party illegally seizes it will result in grave in justice. Hence the complaint is filed to restrain the opposite party or any other men under them from seizes or possible taking possession of the plaint schedule vehicle from interfere with the peaceful enjoyment possession of the scheduled vehicle by the complainants.
2. Along with the complaint an IA/No.10/2016 filed by the complainant for an interim order of injunction. That IA was allowed till the disposal of the complaint.
3. The version of the opposite parties is as follows:-
The complainants availed the loan on 28.5.2015 with repayable amount of Rs.10,32,000/-. While availing the loan by entering into an agreement between the parties for the entire monthly installments the company only on request of the customers for their benefit be receiving post dated cheques duly signed and filled up the EMI amount by the parties and the averment that the opposite parties are obtained blank signed documents is not true hence denied. The complainants had admitted their liability to pay additional interest in the event of delay in making payment of installments. The complainants have been a habitual defaulter and paid the installments under the loan agreement belatedly. Hence, the additional interest ie. 30% was charged for the assured amount as provided under the loan agreement which is not a deficiency in service. The complainants are not entitled to get any reliefs as prayed in the complaint.
4. The complainants filed proof affidavit and produced documents marked as Exts.A1 to A4. From the part of the opposite parties no oral or documentary evidence adduced.
5. The points for consideration are:-
1) Whether there is any deficiency in service on the part of the opposite parties?
2) If so the reliefs and costs?
6. It is an admitted fact that complainant purchased the vehicle by availing a loan from the first opposite party and the loan amount was repayable in 48 monthly installments commencing from 17.6.2013 up to 17.5.2017. It is also an admitted fact that complainants had committed default in repaying the installments regularly. According to the complainant, he paid off a substantial part of dues and the opposite party adjusted the said amount to illegal heads and they are not properly crediting the entirely amount towards the loan account. More over the opposite party imposed 30% additional interest to the loan amount. In the version filed by the opposite parties, they admitted that additional interest 30% was charged on the arrear amount as provided under the loan agreement. Without producing any such documents supporting their contention, they have no right to say that they can claim 30% as additional interest. Claiming 30% as additional interest from the loan amount by the opposite parties amounts to deficiency in service. Admittedly there is a loan transaction and some amount is also admittedly due to the opposite party. In this circumstances, the Forum is of opinion that it will be just and proper to give direction to the opposite parties to settle the loan transaction by receiving the amount due calculating interest at the rate of 18% per annum within one month from the date of this order.
In the result, the opposite parties are directed to settle the loan transaction by receiving the amount due calculating interest at the rate of 18% per annum from the complainant within one month from the date of this order.
Dictated to the Confidential Assistant transcribed by her corrected by me and pronounced in
open Forum on this the 31st day of October, 2016. Sd/- Smt.Elizabeth George (President) :
Sd/- Sri. Antony Xavier (Member) :
Sd/- Smt.Jasmine.D. (Member) :
Appendix:-
Evidence of the complainants:-
Ext.A1 - True copy of the certificate of registration
Ext.A2 - True copy of the policy schedule of the vehicle
Ext.A3 - True copy of the lawyer notice dated 14.11.2015
Ext.A4 - True copy of the medical certificate dated 02.04.2016
Evidence of the opposite parties:- Nil
// True Copy //
By Order
Senior Superintendent
To
Complainant/Opposite parties/S.F.
Typed by:- pr/-
Compared by:-
