IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Wednesday the 30th day of October , 2011
Filed on 19.03.2011
Present
1. Sri. Jimmy Korah (President)
2. Sri. K. Anirudhan (Member)
3. Smt. N. Shajitha Beevi (Member)
in
C.C.No.99/2011
Between
Complainant :- | Opposite party:- |
Sri. K. Rasheed, S/o Mydeen Kunju,Edayila Parambil, Panoor, Pallana, Alappuzha. (By Adv. B. Somanatha Kurup, Alappuzha) | The Branch Manager, Alleppey District Co-operative Bank Ltd,Thrikkunnapuzha Branch, Thrikkunnapuzha. (By Adv. B. Rajendran, Haripad) |
O R D E R
SRI.JIMMY KORAH (PRESIDENT)
The complainant’s case in succinct is as follows: - The complainant in May 2005 availed a loan amount of Rs.50000/- (Rupees fifty thousand only ) from the opposite party for the purpose of the progress of his business. The loan so obtained had to be repaid in 36 monthly installments. The complainant was allowed to pay Rs.60/-(Rupees sixty only ) daily through the pigmy collection agent. The interest imposed for the said loan was 12% per annum. The complainant was paying off the loan installments unfailingly, and so remitted Rs.20000/-(Rupees twenty thousand only ) with the opposite party. But unexpectedly, the complainant's close kinfolk were afflicted with fatal ailments one after the other, and the complainant was constrained to default the repayments of the loan. Thus on 3rd March 2011, the opposite party issued a demand notice to the complainant calling upon him to remit an amount of Rs.61165/-(Rupees sixty one thousand one hundred and sixty five only ) to close the loan account. In the said notice the interest for the loan amount was charged Rs.22797/-(Rupees twenty two thousand seven hundred and ninety seven only ). The interest, thus imposed was excessive contrary to the agreement. The opposite party's service is deficient. The opposite party inflicted mental agony to the complainant. Got aggrieved on this the complainant approached this Forum for compensation and relief.
2. On notice being served the opposite party turned up and filed version. The contention of the opposite party is that the complainant availed loan on the basis of mutual sureties with other people. The interest charged was at the rate of 13% per annum. The complainant had agreed to repay the loan amount in 36 installments on paying Rs.1930/-(Rupees one thousand nine hundred and thirty only ). According to the opposite party, the complainant had executed a document with other sureties to repay the loan as aforesaid. The complainant has willfully suppressed the nature of availing loan. The complainant willfully kept away from the repayment of loan, despite several suitable opportunities were afforded to him, the opposite party forcefully contends. The complainant is liable to pay an amount of Rs.62362/-(Rupees sixty two thousand three hundred and sixty two only ) to the opposite party. The instant complainant has been instituted with a view to harass and humiliate the opposite party. The complaint is liable to be dismissed, the opposite party contends.
3. The complainant evidence consists of the testimony of the complainant as Pw 1 and the documents ExbtA1 was marked. On the side of the opposite party, the manager of the opposite party was examined as Rw1, and the documents Exbts B1 to B5 were marked.
4. Bearing in mind the contentions of the parties, the questions that come up for
consideration are:-
(a) Whether the complainant was levied excessive interest?
(b) Whether the service of the opposite party is deficient?
(c) Whether the complainant is entitled to any relief'?
5. Concededly the complainant has availed a loan amount of Rs.50000/-(Rupees fifty thousand only ) from the opposite party. The complainant's contention is that the complainant was charged undue interest than what was offered and agreed to. According to the complainant, the complainant was hit with unforeseen predicaments in profession namely ailments to son and wife and consequent financial stress. With the result, the complainant had to discontinue repayment of the loan amount. In the meanwhile, on 3rd March 2011, the opposite party issued a demand notice calling upon the complainant to pay an exorbitant amount of Rs.61165/-(Rupees sixty one thousand one hundred and sixty five only ) which amount, actually the complainant is not legally responsible to pay. Keeping these contentions lively in mid, we went through the entire records placed before us by the parties. It is worthwhile to notice that the core of the complainant's contention is that the dealings of the opposite party are not at all transparent. According to the complainant, the opposite party charged surplus rate of interest than what is offered. On a close scrutiny of the materials produced by the opposite party, it is revealed that the opposite party has not produced the statement of accounts, even though voluminous documents were brought before this Forum. In this context, it is to be assumed that the opposite party has something to conceal as to the loan account in issue. In the said perspective, the service of the opposite party appears deficient, and therefore, the complainant is entitled to relief.
In the light of the facts and circumstances discussed herein above, the opposite party is directed to issue statement of account to the complainant without charging any penal interest as to the material loan amount. The Exbt Al notice stands cancelled. We observe that on issuing the statements of account, the complainant shall allow equal monthly installments for the repayment of the amount so arrived.
Pronounced in open Forum on this the 30th day of October , 2011
Sd/-Sri. Jimmy Korah
Sd/-Sri. K. Anirudhan
Sd/- Smt. N. Shajitha Beevi
Appendix:-
Evidence of the complainant:-
Ext. A1 . - Registered Notice dated 03/03/2011
Evidence of the Opposite party:-
RW1 -Sri . R.Kamalasanan
Ext.B1 -Mortgage Debtor
Ext.B2 -Application
Ext.B3 -Letter dated 09.05.2005 from complainant to opposite party
Ext.B4 -Pro Note dated 09.05.2005
Ext.B5 - Adalath Notice dated 03/11/2010
Ext.B6 - Statement of Account
// True Copy //
By Order
Senior Superintendent
To
Complainant/Opposite parties/S.F.
Typed by:-sh/-
Compared by:-
