Present : Sri A.K. Das, President
Sri L.K. Banerjee, Member
Smt. J, Saha, Member
Order no. 21 dt. 18.06.2008
In this consumer complaint petitioners have asked for (a) confirmation the legitimate claims as demanded vide their advocate demand notice dt.221.3.05 with interest @ 18% p.a.
(b) a direction to o.p. no.2 to enquire and report this forum as to why petitioners will be deprived to get their legitimate financial loss damages and compensation.
© a direction to concerned o.p. to pay compensation Rs.50000/- and damages as claimed by their advocate’s letter dt.21.3.05.
Profile of the petitioners’ complaint is that they applied on 20.2.01 for House Building Loan under “Housing Finance Scheme for Public” to o.p. who sanctioned the loan on 26.3.01 to the tune of Rs.397000/-. The complainant had complied all procedural formalities i.e. execution of agreement, deposition of title deed and furnishing guarantor. The o.p. disburse the loan amount on different dates.
(1) 27.3.01 Rs.79400/-
(2) 2.5.01 Rs.119100/-
(3) 23.8.01 Rs.198500
Petitioners had started to pay first EMI on and from 11.4.02 at Rs.4350/- including principal and interest. They paid Rs.78450/- by 18 instalments. Even after he above payment there was outstanding balance 431/- in the said loan account as on 30.8.03 which included interest upto 30.6.03 and it was appearing from the statement, annex-B. Petitioners alleged that o.p. had charged interest @ 20.58% which was not in conformity with the rate prescribed by the Reserve Bank of India in case of the subject loan. Moreover, they made payment of regular instalment buit the bank charged interest monthly rest @ 13% - 14% which was also higher and beyond the scope of agreement. In spite of payment of regular EMI the outstanding balance almost remained the same. Therefore, there was a gross irregularity on the part of the concerned accounts officer of the o.p. Complainant was compelled to stop payment of EMI on and from the month of Sept.03 to avoid further financial loss and complications in the schedule of repayment of EMI as on 30.8.03. To get rid of debt liability petitioners repaid the entire loan amount of outstanding with tune of Rs.472700/- as per communication of bank authority dt.18.2.04 through LIC Housing Finance Ltd. O.p. has confirmed such repayment vide letter dt.18.3.04. Petitioners repaid the said amount obtaining loan from the LIC Housing Finance Ltd. Petitioners through their advocate informed the o.p. about the serious discrepancies with regard to said loan account and claimed excess amount charge and illegally realized by the o.p. towards repayment process of the loan account. Therefore, petitioners vide letter dt.14.5.04 demanded clarification with regard to discrepancies in the process of repayment mode of said house building loan. O.p. duly replied through their letter dt.3.6.04, annex-C. O.p. bank asked the petitioners through their letter dt.18.10.04 to quantify the amount of financial loss suffered by the petitioners. Petitioners demande statement on 30.6.03 till closer of the account vide their letter 20.12.04. The interest charged by the o.p. till closer of the loan account, but o.p. did not respond. The petitioners thereafter sent legal notice through the lawyer while the o.p. failed and neglected to compensate the petitioners with regard to their loss, compensation and damages claiming a sum of Rs.80000/- from the o.p.
In the w/v and affidavit of o.p. it is not disputed that a sum of Rs.431751/- was payable by petitioners as on 30.8.03 and complainant started payment of instalment of Rs.4350/- from 11.4.02.
They charged interest on the said housing loan as per guideline of RBI and the effect of rate of charges of interest were also given effect to the loan account of the petitioners from time to time. The revised statement for the period from 27.3.01 to March 04 has disclosed total amount of disbursement, repayment, interest charged. An amount Rs.12749/- is due / payable to the complainant. The petitioners of their own, choose to close the loan account with the o.p. They requested the petitioners to quantify the loss but the complainant has failed to do it.
The o.ps have agreed to settle the grievances of the complainants by making payment of Rs.12749/- which was paid in excess of the claim as per statement, annex-C. The petitioners claim for compensation has no basis. The o.ps. have categorically denied any negligence, fraud practice and mis appropriation on their part.
No materials find place on record to justify that o.ps. have charged excess rate of interest violating RBI rules and conditions of agreement.
The revised statement annexed with the affidavit of o.ps. based on flouting rate of interest reveals excess realization after closing of loan account payable to complainant.
Alleged discrepancies in the statement are not substantiated with sufficient and satisfactory evidence.
There is no affirmative and positive evidence to show that o.ps. have charged excess amount and they have realized illegally towards repayment process of loan account.
After closer of the loan account on 18.3.04 the agreement by and between o.ps. and complainant had terminated. The complainants have filed this consumer complaint on 19.8.05 when there was no relationship of consumer and service provider in between petitioners and o.ps.
Petitioners do not disclose particulars of alleged loss. In that case no relief could be awarded to them. Without any satisfactory evidence been led do4s not automatically entitled the forum to quantify the amount claimed in this consumer complaint.
In the above circumstances present consumer complaint appears to be devoid of any merit and it is liable to be dismissed.
Hence,
Ordered,
The consumer complaint is dismissed on contest without cost.
Let copy of this order be supplied to the parties free of cost.
Member Member President
