DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA
CONSUMER COMPLAINT CASE NO. 108 OF 2014
Muna Rai (32 Yrs),
S/O- Ranglal Rai,
RO: Gwalapada, Lamtibahal,
PS: Brajrajnagar Dist: Jharsuguda,Odisha………….…………Complainant.
Versus
Branch Manager,
Sriram Transport Finance Co. Ltd., Jharsuguda Branch,
At: Beheramal Road,
PS/ Dist: Jharsuguda, Odisha.……………………….…..….…..….…...Opp. Party.
Counsel for the Parties:-
For the Complainant Shri P.R.M. Rao, Adv. & Associates.
For the Opp. Party Shri N. Biswal, Adv. & Associates.
Date of Order: 11.07.2016
Present
1. Shri S.L.Behera, President.
2. Shri S.K. Ojha, Member.
Shri S. L. Behera, President: - The brief facts of the complainant’s case is that, he has purchased one truck bearing Regn. No.OR-23B-5666 which was financed by the O.P vide Loan Agreement No. TSLSMBLP0000262 for an amount of Rs.12,00,000/- only and paid more 13,00,000/- only till August,2011. The complainant taken another loan of Rs.6,00,000/- only vide Agreement No. JHRSU0201300004 dtd. 31.01.2012 by the assurance of O.P on rate of interest @ 10% per annum by signing on blank agreement and the O.P had taken 12 numbers of blank signed cheque as security. The complainant was paying the regular installments and upto dated 13.11.2014 he had paid Rs.6,70,000/- only but the O.P never furnished the receipt nor furnished copy of agreement and account statements on repeated request and demanding more than 6,50,000/- only to settle the claim. The complainant is unable to ply his vehicle on road and thereby sustaining financial loss of Rs.2,000/- only per day and threatening to seize the vehicle, hence this case.
The O.P. appeared through their counsel after being noticed and submitted that the complainant is a defaulter in making payments of installments. The O.P submitted that the complainant had availed loan of Rs.11,08,554/- vide Loan Agreement No. TSLSMBLP0000262 dtd.07.03.2008 which was settled and has
taken a new loan of Rs.6,00,000/- only vide Agreement No. JHRSU0201300004 dtd. 31.01.2012. The outstanding dues of the recent loan upto dated 29.12.2014 is Rs.6,83,786.52P. The loan was sanctioned @ 13.372% interest per annum to be compounded with monthly rests on the outstanding balance but the O.P has neither taken 12 numbers of blank signed cheque from the complainant nor obtained signature on blank agreement and never assured interest @ 10% per annum and with denying all the allegations imposed by the complainant, the O.P has prayed for dismissal of the case.
Heard and perused the case record along with materials available. As per the copies of loan agreements filed by the O.P the complainant was financed a truck bearing Regn. No.OR-23B-5666 by the O.P for an amount of Rs.11,08,554/- only by executing a loan agreement dtd. 07.03.2008 which was settled and a further loan of Rs. 6,00,000/- only which was to be repaid by the complainant in 43 numbers of equal monthly installments of Rs.20,600/- only per month by charging @ 13.372% rate of interest per annum to be computed with monthly rests on the outstanding balance. As per the statement of accounts issued by O.P dtd. 29.12.2014 the complainant has paid Rs.5,70,788/- only and Rs.4,14,847.52P was arrear and Rs.6,83,786.52P only was the full and final settlement amount as on date valid upto 04.01.2015.
The said vehicle is in the possession of the complainant and as per the statement of account the complainant is paying the monthly installments time to time ( not regularly ). It reveals that the complainant is interested to clear the dues but it is hard to say the copy of loan agreement and statement of accounts were not issued infavour of the complainant.
In the above observation we are in considered opinion to allow partly the complaint case with direction to the O.P to issue afresh statement of accounts and a copy of loan agreement infavour of the complainant and receive the outstanding dues amounts regularly from the complainant.
Accordingly the case is disposed of.
Order pronounced in the open court today the 11th day of July’ 2016 and copy of this order shall be supplied to the parties as per rule.
I Agree.
S.K.Ojha, Member S. L. Behera, President
Dictated and corrected by me
S. L. Behera, President.
