DIST. CONSUMER DISPUTES REDRESSAL FORUM
NORTH 24 Pgs., BARASAT.
C. C. CASE NO. 548/2016
Date of Filing: Date of Admission: Date of Disposal:
31.08.2016 05.10.2016 24.07.2018
Complainant/s :- 1. Smt. Annapurna Mitra,
W/o Sri Subhas Mitra
Being the permanent resident of
48/7, Manna Para Road,
P.S- Baranagar,
Kolkata- 700090
Dist- North 24 Parganas
=Vs.=
O.P/s:- 1. The Concerned Manager,
HDB Financial Services Ltd.
(Dunlop Branch),
Having their registered branch office
At Ground Floor, Unit no- G- 1/1
G1 & G2, Premises no- 16,
Ashokegarh, P.S- Baranagar,
Kolkata- 700108, Ward no- 02
Dunlop, Dist- North 24 Parganas
2. The Concerned Manager,
HDB Financial Services Ltd.
Having registered office at
2nd Floor, Gokul Towers,
Opposite to Model House,
Punja Gutta, Hyderabad,
Pin code- 500082
P R E S E N T :- Bankim Chandra Chattopadhyay………..…..President.
:- Smt. Silpi Majumder ………………………Member.
Final Order
This complaint is filed complainant u/S 12 of the CP Act, 1986 alleging deficiency in service as well as unfair trade practice against the OPs.
The brief fact of the case of the complainant is that she applied for a loan and approached before the OP 1 with an application praying for loan amount of Rs. 15,00,000/- during the end of August 2015. Subsequently several papers and documents was handed over to the concerned employee of the OP 1. As per application the OP 1 committed that the complainant will be entitled to get loan more than 15,00,000/- after verification of the supporting documents and relying upon such commitment the complainant made an application before the OP 1 for minimum loan amount of Rs 15,00,000/-.
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But after laps of certain time the complainant became confused, perplex and undecided. Accordingly loan was sanctioned in the loan of the complainant for an amount of 3,50,000/- but Rs. 3,42,000/- was disbursed finally and the same was credited to the current A/C of the complainant. As and when the complainant got the information that the loan amount of Rs. 3,42,000/- has been sanctioned immediately the complainant opposed to receive the loan amount and wanted to refund the entire the loan amount of Rs. 3,42,000/-, disbursed by the OP 1 in her favour. Since inception the complainant refuse to take such loan as the loan amount came down from 15,00,000/- to 3,42,000/- only. The complainant reputedly wanted to return the entire disbursed loan amount at a time to the OP 1, but in the meanwhile first installment was given/ deducted from the current account of the complainant. After some time some representative of the OP 1 met with the complainant and after a long discussion the complainant was requested by the said representatives to continue with the said loan account and repayment of the said installment at least for three months. At the time of granting loan it was committed on the part of the OP 1 that the interest shall be charged on the loan amount @ 8% per annum. But after obtaining the welcome letter dt. 27.10.2015 the complainant came to know that upon the disbursed loan amount the rate of interest will be charged more that 14.5% per annum and accordingly it has been calculated by the complainant that upon the loan amount of Rs. 3,42,000/- the complainant shall have to pay 1,32,696/- towards interest. Realizing the actual discrepancies as we the conspiracy of the OP 1 the complainant decided to refund the entire receive loan amount along with interest to the OP 1. But in the mean time long gap was gone and several installments were paid. The complainant thereafter issued several written correspondences and communications with the OP 1 expressing her intention to refund the entire outstanding amount, actually she tried to refund the amount along with interest to the OP 1, but all the letters were ignored by the OP 1. She came to realize that the OPs are intending to continue discrepancies as well as conspiracy with her. The complainant obtain personal loan on 27.10.2015 on the strength of an agreement which was undated and blank but was duly signed by the complainant at the instance of the authorized representatives of the OP 1. At the time taking out the loan the OP 1 fraudulently took two original deeds of two shop rooms. At the time of disbursement of the loan it was specifically stated by the representative of the OP 1 that the loan being personal loan there is no necessity to mortgage any property document, but the actual fact is that the OP 1 cleverly took the aforesaid two registered deeds in respect of two shop room valued of Rs. 25,00,000/- approximately. According to the complainant the OPs are trying to stretch the tenure of repayment of the loan amount with a view to grab a huge amount towards interest. For this reason the complainant stopped to repay the loan amount after the payment for the month of May 2016. During pendency of this complaint no further installment was paid by her.
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Being aggrieved with the action of the OPs the complainant has approached before this Ld. Forum by filing this complaint praying for direction upon the OPs to received the entire outstanding amount after deduction the amount as already paid by the complainant through some installments along with interest at the rate of 8% per annum of the disbursed loan amount, alternatively give a direction to the OPs to receive the repayment of loan amount along with interest @ 8% per annum of the actual disbursed loan amount, restraining the principal OP, not to create any illegal pressure for making payment of the installment through ECS or by cash. During pendency of this complaint, to pay compensation to the tune of Rs. 1,00,000/- for mental stress, harassment and agony and litigation cost of Rs. 50,000/- to her. The complainant has also prayed for direction upon the OPs to deduct all such amount which has been lost during the course of ECS payment through ECS bounce charge from the amount of final settlement amount for repayment.
The petition of complaint have been contested by the OPs by filing Written Version contending that the complainant availed of a loan amounting to Rs. 3,50,000/- during the end of August, 2015. He failed to make payment the due EMI within due periods against the loan a/c no- 1171608. Without making repayment of due EMI she had filed this complaint against the OPs on 31.08.2016 with ulterior motive and with a view to harass the OPs. On 26.10.2016 the complainant requested the OPs for settlement of the outstanding loan amount in two installments and as per request of the complainant a settlement letter dt. 18.10.2016 (revised letter dt. 18.01.2017) was issued by the OPs claiming the settlement amount for Rs. 2,07,442/- towards full an final settlement, which was to be paid in three installments. As per the settlement letter the amount was duly paid and the loan a/c was settled and closed. Since then the OPs has been repeatedly requesting the complainant to collect the property papers and other documents relating to the loan, but he did not pay any heed to such request, the reason is best known to the complainant. On 28.04.2017 by issuing a letter complainant was requested to collect her property paper along with EMI refund cheques, but till date she did not bother to collect the same, the reason is unknown to the OPs. By suppressing the abovementioned fact the complainant has filed this complaint which according to the OPs is false, frivolous and vexatious. According to the OPs this complaint is liable to be dismissed having no merit.
The complainant has adduced evidence on affidavit along with some papers and documents in support of her contention.
We have carefully perused the record, documents, filed by both the parties and heard argument at length advanced by the Ld. Counsel for the parties. During argument the Ld. Counsel for the OPs had attracted to the settlement letter no- PL/Oct’ 26/1171608 dt. 28.10.2016/29.11.2016/28.12.2016/18.01.2017 (revised). In view of the request of the complainant the OPs have issued the settlement offer of the abovementioned loan a/c. The OPs have given opportunity to settle the outstanding loan amount through some installments.
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It was settled that settlement of Rs. 2,77,000/- , out of which on 28.10.2016 an amount of Rs. 15,000/- should be paid in the first installment, second installment will be of Rs. 15,000/- dt. 29.11.2016, 16.12.2016, third installment will be paid for Rs. 26,372/-, in fourth installment and fifth installment (last) a sum of Rs. 13,186/- and 2,07,442/- shall be paid on 04.01.2017 and 21.01.2017 respectively. In the settlement letter there were some terms and conditions. In the terms and condition no- 11 it is written that ‘you are further informed that the subsequent payment of the abovesaid amount, the HDB Financial Service Ltd. will withdraw all legal proceedings (criminal case and Civil Case) initiated if any, only to subject of realization of the abovesaid payment. If you have proceeded any legal steps against us so that case also withdrawn by you, after this settlement process is being completed.’
In the terms and condition no-13 it is written ‘this is a full and final settlement between you and us.’
As per the settlement offer admittedly the complainant paid the entire loan amount as per schedule installments and accordingly the present status of her loan a/c is showing as ‘Closed’. It is true that this complaint was filed by the complainant before this Ld. Forum on 31.08.2016. The complaint was admitted on 05.10.2016. After admission of this complaint S/R and appearance was fixed on 14.12.2016. Upon getting the notice from this Ld. Forum in respect of this complaint for appearance on the date fixed prior to the said date the OPs have issued settlement letter upon the complainant on 28.10.2016. It is pertinent to mention that before issuance of the settlement letter request was made by the complainant to the OPs for settlement of the loan amount. In response to the said letter the OPs have issued the abovementioned settlement letter. It is mentioned earlier that upon receipt of the settlement letter along with its terms and the conditions the complainant has adopted and accepted the same and repaid the entire loan amount. Through the scheduled installments, but it is seen by us that though the complainant was pleased to accept the settlement letter along with its terms and the conditions and acted accordingly, but did not take any step for withdrawal of this complaint from this Ld. Forum in view of the terms and condition no-11 of the said letter. In our view as the complainant has accepted the said terms and the condition and paid the entire loan amount, at this juncture she is estopped to proceed with this complaint further in view of the principle of estoppel. Moreover where the full and final settlement has already been done by and between the complainant and the OPs, this Consumer Complaint have no legs to stand upon.
During argument the Ld. Counsel for the complainant has argued that the OPs have imposed interest @ more than 14.05% per annum on the loan amount, where it was promised by the OPs that interest component will be @ 8% per annum on the loan amount.
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The complainant has filed the photocopy of personal loan agreement, we have carefully gone through the same, but we did not find that interest component was scheduled @ 8% per annum on the loan amount in the said agreement, rather it is also not found that interest component will be @ 14.05% per annum on the loan amount. It is clearly mentioned therein that in rate of interest will be floating, which solely depends on the market rate, it may comes down or perhaps it may go up. Therefore due to non-fixation of the rate of interest strictly, OPs are at liberty to impose interest component on the loan amount as per floating rate. As the complainant has entered into an agreement at the time of taking out the loan and put her endorsement on each and every pages of the agreement adopting that she will pay interest component as per floating rate, at this juncture neither the complainant nor the OPs can travel beyond the said agreement. Once the complainant has accepted the floating rate of interest, now she cannot claim that interest component should be imposed @ 8% per annum on the loan amount. The OPs have calculated the entire outstanding loan amount along with floating rate of interest thereon and as the complainant has accepted the same, now she cannot claim that the OPs are under the obligation to refund the excess amount paid by her towards the interest component @ more than 14.05% on the loan amount. We do not find any reason in the argument advanced by the complainant in this respect.
It is further alleged by the complainant that till date the OPs did not refund the property papers and other related documents which were deposited by her at the time of sanctioning of the loan amount. In this respect the Ld. Counsel for the OPs has pointed out the terms and condition no- 12 of the settlement letter wherein it is written that ‘all the property papers or any mortgage documents, (which was kept by us at the time of sanction of loan) will hand over to you after closure of a/c. Though the complainant has claimed that till date the OPs did not take any step to refund her the property documents along with other related documents inspite of realizing entire loan amount from her, but in respect of her submission no documentary evidence is adduced by the complainant from where we can draw the conclusion that the complainant had to deposit the property document and some other documents as mortgage at the time of taking out the loan amount from the OPs. Within the four corners of the loan agreement there is no whisper in this context. But the Ld. Counsel for the OPs has attracted our notice to the letter issued by them to the complainant dt. 28.04.2017 whereby request was made to the complainant to get back return the property papers and ex-EMI refund cheque towards the loan a/c, wherein it is mentioned by the OPs that ‘we are informing you over telephone continuously since March, 2017 to collect your property papers with excess EMI cheque, which is lying down in Dunlop Branch till. But you did not collect the same after repeated intimation to you. After getting this letter within two working days, if you do not collect those documents with proper process, we will send those to central OPs. we are not responsible for any delay or dispute in this regard.
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It is seen by us that the postal stamp on the said letter and the postal track revealed that the OPs issued the said letter for giving intimation to the complainant through postal correspondences on 28.07.2017, but due to door locked intimation was served, notice could not be received by the complainant from the postal peon. As those documents are lying with the central OPs the complainant is at liberty to collect those documents from the central OP at her earliest.
As the complainant has failed to prove her case by adducing cogent document in respect of any deficiency in service as well as unfair trade practice against the OPs, hence the complaint fails.
Hence it is ordered that the Consumer Complainant No- 548/2016 is hereby dismissed on contest without any cost,
Let plain copy of this order be supplied to the parties free of cost as per the CPR, 2005.
Member President
Dictated and Corrected by
