ORDER BY HON’BLE PRESIDENT- MR. P.K. PADHI:

                                                                                            JUDGMENT

            Complainant has filed this consumer complaint U/s.35 of C.P. Act, 2019 seeking following reliefs;

            “Direct the opposite parties to release the vehicle and refund back Rs.32,000/- which persons of opposite parties stolen from the pocket of complainant at Cuttack and pay compensation towards cost of litigation and mental agony separately”.

            The brief fact of the case is that, the complainant purchased a car availing finance from the opposite parties to the tune of Rs.6,31,288/- on 04.12.2019 and the complainant also paid Rs.1,76,876/- towards the margin money.  As per loan monthly EMI was fixed at Rs.12,744/- including interest and it was to be repaid in 60 EMIs. On 04.11.2021 two un-known person forcefully take away the vehicle and on the point of knife and terrorizing the complainant stolen Rs.32,000/- from the pocket of the complaint. On 09.11.2021 complainant went to the opposite party No.1 office and approached him to return his vehicle but the opposite parties No.1 said that, after deposit of Rs.54,000/- as on the said date the vehicle will be released to complainant. As the above vehicle was/is very much essential for the complainant he deposited said amount to opposite party No.1 but the opposite party No.1 did not release the vehicle for which complainant filed the case for release of vehicle.

            The opposite parties filed written version stating as under;

            The complainant had taken a loan of Rs.6,31,288/- from the opposite parties vide loan-cum-hypothecation agreement on 30.9.2019 for purchasing a vehicle and had agreed upon all terms and conditions of the said agreement, inter-alia agreeing to repay the loan in 63 installments, amounting Rs.12,727/- starting from 10.10.2019 to 10.12.2024. After repossess the said vehicle the complainant, the opposite party bank has released the vehicle to the complainant on 01.12.2021 as on date of release of the vehicle the complainant is also liable to pay the defaulted amount of Rs.26,678/- as per statement dtd.11.01.2022.

            Counsel for complainant is absent. We have gone through the records and dispose of the case on merit. Complainant has taken loan from opposite parties and as per statement in para 21 the complainant is defaulted of Rs.26,678/- as on 10.10.2022. The agreement is valid up to 10.12.2024.

            Keeping in view the case of both parties and specifically when the vehicle has been released, we direct that the complainant shall pay the regular EMI and clear the loan before the agreement period is over i.e. 10.12.2024 and pays the arrear dues within 3 months of the passing of the order.  With the aforesaid observation and direction consumer complaint is disposed of. No cost.