Karnataka

Chitradurga

CC/320/2019

Mr. Rajashekhar B.S. S/o Sathyanarayana B.R Proprietor of Siri Tractors - Complainant(s)

Versus

The Branch Manager, The Bajaj Finserv - Opp.Party(s)

Sri.P.S. Sathyanarayana Rao

08 Aug 2019

ORDER

         COMPLAINT FILED ON:04/05/2019

                          DISPOSED      ON:08/08/2019

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, CHITRADURGA.

 

CC.NO:320/2019

 

DATED: 8^th  AUGUST 2019

PRESENT :-     SRI.T.N.SREENIVASAIAH :   PRESIDENT                                     B.A., LL.B.,

                   SRI. SHIVAKUMAR.K.N  :     MEMBER

                M.Com., LL.B.,

 

……COMPLAINANT/S	Sri. Rajashekhar B.S.S/o Sathyanarayana B.R. Proprietor of Siri Tractors, R/o Balaji Sadana, 1st Main, Ist Cross, B.V.K.S. Lay-Out, Near Kanaka Circle, Chitradurga-577 501 (Rep by Sri. P.S. Sathyanarayana Rao, Advocate)
V/S
…..OPPOSITE PARTY	Sri The Branch Manager,The Bajaj Fin Serv,Aravind Motors Building, B.H. Road, Shimoga.   (Placed Ex-parte)

ORDER

SRI. T.N. SREENIVASAIAH:   PRESIDENT

The above complaint has been filed by the complainant u/Sec.12 of the C.P. Act, 1986 for the relief to direct the OP to provide 3 months time to settled the personal loan barrowed from the complainant for one time settlement without fail and further direct OP to reduce the rate of interest rebate in charging existing rate of interest 19.5% and such other reliefs.

2. The brief facts of the case of the above complainant are that, the complainant is representing the firm under the name and style of “Siri Tractors” doing business of sale of Ace Tractors at Kanaka Circle, Chitradurga with the OP Bank having account Number 4F6PSB50129688. And further submitted that on 24/09/2017 the complainant was availing the loan of personal and small business loan for Rs. 5.8 lakhs from the OP Bank and agreed to pay the EMI amount of Rs. 18,750/-. Accordingly complainant has paid loan amount of Rs. 3,19 lakhs  regularly without fail now the complainant is due only one installment of Rs. 18,750/- and further due to loss in Tractor sales business. On 01/08/2017 the complainant opted to go for another business under the name and style of “Siri Pavers” and further stated that the complainant is still ready and ever ready to repay the balance loan amount borrowed by the OP and he required only three months time. Further submitted that the OP has assured to collect only 13.5% interest from the complainant now there are collecting 19.5% i.e. deficiency of service on the part of OP. The cause of action for this complaint has arise on 02/04/2019 when the OP started to harass the complainant without providing an opportunity to clear of the borrowed loan amount at one time settlement and all the money transaction done at Chitradurga within the jurisdiction of this Hon’ble Court.

3.      On service of notice, OP did not appeared before this Forum, and placed Ex-parte

4.      Complainant himself has examined as PW-1 by filing affidavit evidence and the documents Ex.A-1 is got marked and closed his side.  

 

5.      Arguments heard.

6.      Now the points that arise for our consideration for decision of above complaints are that;

(1)  Whether the complainant proves that the OP have not  provide 3 months time to settled the personal loan barrowed from the complainant for one time settlement and further OP have not  reduce the rate of interest from 19.5% to 13.5%.

              (2) What order?

         7.       Our findings on the above points are as follows:-

                   Point No.1:-Negative. 

                   Point No.2:- As per final order.

 

REASONS

8.      Point No.1:- The complainant is representing the firm under the name and style of “Siri Tractors” doing business of sale of Ace Tractors at Kanaka Circle, Chitradurga the complainant having account with the OP Bank. Accordingly Account Number 4F6PSB50129688. That on  24/09/2017 the complainant was availing personal and small business loan for Rs. 5.8 lakhs from the OP Bank and agreed to pay the same in a monthly installment i.e EMI amount of Rs. 18,750/-. Accordingly complainant has paid loan amount of Rs. 3,19 lakhs  regularly without fail now the complainant is due only one installment of Rs. 18,750/- and due to loss in Tractor sales business. On 01/08/2017 the complainant opted to go for another business under the name and style of “Siri Pavers”.  Now complainant is still ready and ever ready to repay the balance loan amount borrowed from the OP and he required only three months time. Further  the OP has assured to collect only 13.5% interest from the complainant now they have collecting 19.5%.

9. The complainant have produced the one document. That documents marked as Ex-A-1. In this documents clearly mention the rate of interest is 19.5% and not 13.5%. The complainant have filed to produce any documents to shows that the OP has stated the rate of interest is of 13.5% the complainant has failed to prove this point. And further according in to the complainant prayer he is seeking only 3 months time from 04/05/201. As per the request of the complainant in the complaint is completed. Now the question of granting time to the complainant does not arise. Hence there is no any deficiency of service on the part of the OP. Hence Point no.1 is held Negative.

10.    We have gone through the entire document filed by the complainant.  No doubt the complainant is obtaining loan from the OP Bank for the purpose of Tractor Business and agreed to repay the same in a monthly installment. Accordingly complainant has paid some installments. But the complainant has seeking prayer in his complaint three months time required for re payment of entire loan. Accordingly the complainant  have filed this complaint on 04/05/2019. Three months time already completed. Question of granting further three months does not arise. And further the complainant have produced the one document before this Forum the same as marked Ex-A1. This document is clearly shows that at the time of obtaining loan the complainant agreed to pay the interest at the rate of 19.5%.  The question of reducing interest from 19.5 to 13.5% does not arise. And further complainant fails to prove that the OP has told interest is 13.5%. Hence there is no deficiency from the OP side. Hence pass the following order.

            11.     Point No.2:- As discussed on the above point and for the reasons stated therein we pass the following:-

ORDER

The complaint filed by the complainant U/s 12 of CP Act 1986 is hereby dismissed. No cost.

 (This order is made with the consent of Member after the correction of the draft on 08/08/2019 and it is pronounced in the open Court after our signatures)         

 

                                     

MEMBER                                                                      PRESIDENT

-:ANNEXURES:-

Witnesses examined on behalf of Complainant:

PW-1:  Complainant by way of affidavit evidence.

Witnesses examined on behalf of OP:- Nil.

Documents marked on behalf of Complainant:

01

Ex-A-1:-

Computerised statement copy of personal loan details.

Documents marked on behalf of OP:

-Nil-

 

MEMBER                                                   PRESIDENT

Kms**