By. Sri. Chandran Alachery, Member:
The complaint is filed under section 12 of Consumer Protection Act for an Order directing the opposite party to pay interest deductions for 3 years and to pay Rs.25,000/- as compensation and cost of the proceedings along with 15% interest for the whole sum.
2. Brief of the complaint:- The complainant pledged gold ornaments in opposite party bank and availed Rs.50,000/- as loan for agricultural purpose at the rate of 7% per annum. On 24.09.2012, the opposite party bank demanded the complainant to remit interest. The complainant remitted the interest and renewed the loan for a sum of Rs.75,000/-. The complainant again renewed it for Rs.84,000/-. On 20.09.2013, the complainant went to the opposite party bank for remitting interest, the opposite party bank demanded Rs.15,000/- towards principal loan amount. When the complainant went to the bank for remitting this amount, the opposite party bank had demanded the complainant to remit Rs.96,600/- with compound interest. The opposite party bank did not give any interest deduction to the complainant and levied more interest. Aggrieved by this, the complaint is filed.
3. On receipt of complaint, notice was issued to opposite party and opposite party appeared before the Forum and filed version. In the version, the opposite party denied all the allegations in the complaint and stated that no 7% interest is fixed by opposite party. The opposite party bank never received Rs.96,600/- as stated in the complaint. There are loans under crop loan and non-crop loan. If crop loan is repaid promptly, 3% prompt repayment incentive and 5% interest subvention. The complainant availed 6 loans and 5 loans are under crop loan scheme and one loan under non-crop loan scheme. The loan availed by the complainant on 27.09.2012 for a sum of Rs.84,000/- is under non-crop loan in agricultural NC category and the interest rate is 13% per annum. The complainant already closed 4 loans and 2 loans are now pending. There is no unfair trade practice or deficiency of service from the part of opposite party.
4. On perusal of complaint and version the Forum raised the following points for consideration:-
1. Whether there is any deficiency of service from the part of opposite party?
2. Relief and Cost.
5. Point No.1:- The complainant filed proof affidavit and is examined as PW1 and documents are marked as Ext.A1 to Ext.A5 series. The opposite party also filed affidavit and opposite party is examined as OPW1 and Ext.B1 series to B6 also marked. On perusal of complainant's documents, there is no evidence to prove that the rate of interest is 7% per annum. On perusal of opposite party's documents, in Ext.B1 the rate of interest shown is 13% per annum. Ext.B1(a) is the printed form wherein the rate of interest is handwritten as 13%. In Ext.B1(c), it is stated that the loan is AGLNC. Ext.B1(c) is signed by the complainant at the time of availing loan and it is a self-declaration for availing Agricultural (Non-crop) Gold loan-AGL NC. The complainant admitted the document. In Ext.B4, the rate of interest to AGL NC is shown as 13% per annum. The contention of opposite party is that the loan availed by the complainant on 24.09.2012 for Rs.84,000/- is under non-crop loan with rate of interest of 13% per annum. The complainant produced no document to disprove it. Delayed repayment carries 2% penal interest also. The complainant admitted that the repayment of gold loan with interest is not prompt. By considering all these evidences, the Forum is of the view that there is no merit in the complaint. The complainant failed to prove the deficiency of service from the part of opposite party. The Point No.1 is found accordingly.
6. Point No.2:- Since the Point No.1 is found against the complainant, the complainant is not entitled to get cost and compensation.
In the result, the complaint is dismissed. No Order as to costs.
Dictated to the Confidential Assistant, transcribed by him and corrected by me and Pronounced in the Open Forum on this the 31st day of March 2015.
Date of Filing:23.10.2013.
PRESIDENT :Sd/-
MEMBER :Sd/-
MEMBER :Sd/-
/True Copy/
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PRESIDENT, CDRF, WAYANAD.
APPENDIX.
Witness for the complainant:-
PW1. Sivadasan. Complainant.
Witness for the Opposite Party:-
OPW1. Varkey. N. V. Manager, Kerala Gramin Bank, Kalpetta.
OPW2. Usman. Senior Clark, Service Co-operative Bank,
Sulthan Bathery.
Exhibits for the complainant:
A1. Copy of Pass Book.
A2. Loan Challan. dt:12.10.2013.
A3. Gold Loan Ticket.
A4. Letter.
A5(a). Copy of slip.
A5(b). Copy of Argument Note.
Exhibits for the opposite party:-
B1 Series (a to c). Loan Application and Acknowledgment.
B2 Series ( 1to 9). Copy of Part D Introduction of Service charges for Certain Services.
B3 Series (1 to 5). Copy of Master Circular on Gold Loans to customers.
B4. Copy of Circular 196/2012. dt:28.09.2012.
B5. Copy of Circular 17/2013. dt:10.09.2013.
B6. Statement of Account.
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PRESIDENT, CDRF, WAYANAD.
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