DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA
CONSUMER COMPLAINT CASE NO.75 OF 2015
Rajesh Singh ( 27 Years),
S/O- Late Dasrath Singh,
RO: Hanuman Nagar, Lamtibahal,
PO/ PS: Brajrajnagar,
Dist: Jharsuguda,Odisha…………………………..…….…………Complainant.
Versus
Branch Manager,
L & T Finance Limited, Budharaja,
Dist: Sambalpur, Odisha………………………..….….…..….……....Opp. Party.
Counsel for the Parties:-
For the Complainant Shri P.R.M.Rao, Adv. & Associates.
For the Opp. Party Shri A.K.Sahoo ,Adv. & Associates.
Date of Order: 17.01.2017
Present
1. Shri S.L.Behera, President.
2. Shri S.K. Ojha, Member.
3. Smt. A. Nanda, Member (W)
Shri S. L. Behera, President: - The brief facts of the complainant’s case is that, the complainant avail loan of Rs.14,90,000/- only from the O.P. and purchased one Truck bearing Regn. No.OR-15-S-5865 to maintain his livelihood .The complainant had to repay the entire loan amount with interest within June 2015 where the complainant where the complainant has paid Rs.17,00,000/- only upto October,2015. The complainant was paying the installments regularly and to clear his all dues and to obtained NOC from the O.P he wanted to know his payment details from the O.P but the O.P. in place of giving details demanded Rs.2,50,000/- only from the complainant and threatened to seize his vehicle. Due to non supply of loan agreement papers and rescheduled payment details the complainant is unable to make payment, hence this case.
The O.P. appeared filed a written version through his counsel after being noticed and submitted that the complainant is a defaulter in making payments of installments. The complainant was sanctioned two loan accounts bearing loan agreement No. 0CV017016F1100422964 dtd. 21.09.2011 who was having EMIs. of
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Rs.44,350/- only for 43 monthly installments which was to be repaid within dtd. 05.06.2015. The complainant has installment outstanding amount of Rs.1,80,700/- only and other outstanding amount of Rs.3,55,143/- only i.e total outstanding amount of Rs. 5,35,843/- only has remain unpaid till the date of filing of written version. An arbitrator award has been passed on dtd. 12.12.2015 against the said vehicle and as per the decision of Hon’ble national CDR Commission on deciding of such cases in the Consumer Forum the present case is liable to be dismissed as prayed by the O.P.
Heard and perused the case record along with materials available. The complainant was financed one truck bearing Regn. No. OR-15-S-5865 on dtd. 21.09.2011 by the O.P vide loan agreement No. 0CV017016F1100422964 dtd. 21.09.2011. The said loan was to repaid by the complainant from dtd. 15.12.2011 to 05.06.2015. The O.P filed a copy of loan-cum hypothecation agreement, foreclosure / closure simulation report dtd. 05.08.2016 and a copy of award assed by arbitrator. On perusal of records it is found that on dtd. 05.08.2016 the total closure value was Rs.5,35,843/- only including outstanding installments and charges. The agreement period expired on dtd. 05.06.2015.
As an arbitration award has been passed on dtd. 15.12.2015 against the said vehicle in question, passing of any further order by this Hon’ble Forum shall be unjustified in the eye of law, hence on the limelight the present case is dismissed with no costs.
Accordingly the case is disposed of.
Order pronounced in the open court today the 17th day of January’ 2017 and copy of this order shall be supplied to the parties as per rule.
I Agree. I Agree.
Anamika Nanda ( W ) S.K.Ojha, Member S. L. Behera, President
Dictated and corrected by me
S. L. Behera, President.
