PRESENT SRI P.V. NAGESWARA RAO, M.A., LL.M., PRESIDENT

Wednesday, 28^th July 2010

 

V. Ramaiah, S/o Veeranna, aged about 55 years,

Hindu, Residing at Mallela Village, Thondur Mandal,

Kadapa District.                                                                       ….. Complainant.

Vs.

 

1) The Branch Manager, Andhra Pragathi Grameena Bank,

2) The Regional Manager, Andhra Pragathi Grameena Bank,

                                                                                                                                     

 

This complaint coming on this day for final hearing on 23-7-2010 in the presence of Sri S. Vasudev, Advocate for complainant and Sri G. Ramachandra Reddy, Advocate for respondents and upon perusing the material papers on record, the Forum made the following:-

 

 

 

1.                Complaint filed under section 12 of the Consumer Protection Act 1986.

 

2.                The brief facts of the complaint are as follows:- The complainant was a resident of Mallela Village, Thondur Mandal, Kadapa District.  He had S.B. A/c No. 4286 at Andhra Pragathi Grameena Bank, Thondur.  He availed a tractor loan for Rs. 3,00,000/- under loan account No. 2/05 (6024/20050002) on 14-3-2005 for agricultural purpose from R1 and the tractor was registered as AP 04 J : 5545. As per terms and conditions of the loan, the complainant had to pay loan amount in eight equal yearly installments of Rs. 33,000/- each and Rs. 36,000/- in 9^th installment payable on 30-4-2014. The complainant was regular in payment of installments without any default. Recently the complainant came to know that the interest was calculated on quarterly rests instead of half yearly rests. The complainant sent an application to R1 for statement of account and on verification the calculation of interest was known. Later the complainant got issued a notice to R1 with copy to R2 on 19-11-2009 but there was no reply. The calculation of higher rates of interest was deficiency of service to the complainant, who is a consumer.  Thus the complaint was filed against R1 & R2 directing to calculate the interest on half yearly basis from the date of loan till 30-4-2014 with Rs. 2,000/- towards costs and Rs. 10,000/- towards mental agony. 

 

3.                The respondents filed a counter admitting that the loan availed by the complainant for purchase of tractor. It was not correct that the rate of interest was charged as excessive. But it was charged as per rules. The R1 calculated interest at quarterly rests.   Subsequently, on 26-4-2010 the R1 calculated interest at half yearly basis and found variation of Rs. 3,742/- and the same was credited into the account of the complainant.    It was communicated to the complainant. The mistake was rectified before receipt of the notice. In the present complaint, the amount was credited in the account of the complainant.   Thus the complaint may be dismissed with costs. 

 

4.                On the basis of the above pleadings the following points are settled for determination. 

i.                   Whether there is any negligence and deficiency of service on the part of the Respondents?

ii.                 Whether the complainant is entitled to the relief as prayed for?

iii.              To what relief?

 

5.                On behalf of the complainant Ex. A1 to A6 were marked and on behalf of the Respondents Ex. B1 to B3 were marked.  

 

 

6.                Point No. 1& 2.  At first instance the complainant filed a complaint in person in Telugu.   Later the complainant engaged Advocate and filed a complaint in English version. It was an admitted fact that the complainant availed a tractor loan of Rs. 3,00,000/- from R1 on 14-3-2005 under loan account No. 2/05, repayable in 8 annual installments @ Rs. 33,000/- each and in 9^th installment at Rs. 36,000/- commenced on 30-4-2006 and to be completed by 30-4-2014.  The complainant had S.B. A/c No. 4286 at R1 branch. Ex. A1 was Photostat copy of S.B. Account pass book.   Ex. A2 was loan ledger extract commenced from 14-3-2005 to 14-11-2009 in which the interest was calculated with quarterly rests. The complainant got registration of the vehicle and filed Photostat copy of registration certificate under Ex. A6 bearing No. Ap 04 J : 5545.    The complainant verified and came to know that the interest of the loan was calculated with quarterly rests instead of half yearly rests. Then he got issued a notice to rectify the mistake.   The office copy of the notice was Ex. A3. Ex. A4 was postal acknowledgement. Ex. A5 was Photostat copy of delivery slip of Thondur post office and the respondents also filed the farm loan ledger extract from 14-3-2005 to 25-6-2007.   The Photostat copy of the farm loan ledger extract was Ex. B1. It was also clear that the interest was calculated with quarterly rests. Ex. B2 was copy of the ledger extract from 23-2-2008 to 18-6-2010 collecting the interest from quarterly rests to half yearly rests and credited excess amount of  Rs. 3,742/- to the loan account of the complainant.  Ex. B3 was loan ledger extract from 14-3-2005 to 24-3-2010. Therefore, the Respondents had corrected their mistake and credited Rs. 3,742/- to the loan account of the complainant. Therefore, the respondents attended to the loan account and corrected their mistake. Thus there is no deficiency of service and the complainant is not entitled to any relief. Hence, the points are answered accordingly. 

 

7.                Point No. 3 In the result, the complaint is dismissed without costs.

Dictated to the Stenographer, transcribed by him, corrected and pronounced by us in the open forum, this the 28^th July 2010

 

 

 

 

 

 

 

Witnesses examined.

For Complainant    NIL                                                  For Respondent :     NIL

Exhibits marked for Complainant : -  

 

 

Ex. A1         P/c of S.B. A/c No. 4286 pass book.

Ex. A2        Loan Ledger extract from 14-3-2005 to 14-11-2009 issued by R2.

Ex. A3        Office copy of legal notice from complainant to R1, dt. 19-11-2009.

Ex. A4        Postal acknowledgement card.

Ex. A5        P/c of delivery chart issued by Thondur Post Office.

Ex. A6        P/c of Registration certificate issued by Addl. R.A., Kadapa.

Exhibits marked for Respondent: -  

 

Ex. B1         P/c of farm loan ledger.

Ex. B2         Copy of display changes in interest rates from 23-2-2008 to 18-6-2010.

Ex. B3         Loan ledger extract, dt. 14-3-2005.

 

 

1)     Sri S. Vasu Dev, Advocate for complainant  

2) Sri G. Ramachandra Reddy, Advocate for respondents.

2) Copy was dispatched on      :

3) Copy of delivered to parties :