Order No. 22 Dt. 04.07.2017
This is the case u/s 12 of the Consumer Protection Act, 1986. The fact of the case in a capsulated form is that the complainant secured Housing Loan from the O.P. Bank of Rs.1075000/- @ Rs. 25% p.a. on 15.03.2004 with condition to pay monthly installment Rs.10450/- for repay of loan amount to be liquidiated within 180 months. The complainant was making payment of regular EMIs and subsequently he found that Bank has collected from him more rate of interest than the agreeable rate of interest. The complainant by written complaint urged the Bank Authority to return him the excess amount he has paid but the bank has refused to do the same. Accordingly, the complainant raised a claim of immediate return of Rs.100000/- from the bank and Rs.50000/- for compensation on the ground of harassment and mental agony.
The O.P. bank has contested the case and denied all the allegations leveled against the bank and wanted to dismissal of the case.
The following points are fixed for our discussion:-
- Is there any deficiency in service on the part of the O.P. Bank ?
- Is the complainant is entitled to get any relief as prayed for ?
:DECISION WITH REASONS:
Admitted position is that the complainant is the loanee to the Allahabad Bank, English Bazar Branch and the documents produced in this respect clearly shows that the rate of interest was fixed @ 8.25% p.a. and it was not a floating rate and Insurance Policy of Rs.500000/- was pledged to secure the loan. The bank statement in this respect has produced by the complainant which shows that excess amount was collected by the bank. The documents further reveal that the Bank Authority was asked to refund the excess amount which was deducted from the loan account of the complainant but Bank Authority paid no heed.
At the time of hearing Ld.Advocate representing the O.P. Bank mentioned before the Forum that the bank is willing to refund Rs.100000/- to the complainant if the Forum makes any direction to this score.
Proper fee paid.
Hence, ordered
that the instant petition filed by the complainant u/s. 12 of the C.P. Act is hereby allowed.
The O.P. Bank is hereby directed to pay Rs.100000/- to the complainant within a month from the date of this order failing which 6% interest p.a. to be carried on over the decretal amount. For mental agony and harassment of the complainant the O.P. Bank is further directed to pay another Rs.10000/- within a month failing which interest @ Rs.6% p.a. to be imposed on the settled amount from the date of this order. No litigation cost is awarded.
Let a copy of this order be given to each of the parties free of cost.
