Date of Filing:23.11.2009<br /> Date of Order: 19.02.2010<br /> <br /> <br /> <br /> BEFORE THE II ADDITIONAL DISTRICT CONSUMER DISPUTES REDRESSAL FORUM SESHADRIPURAM BANGALORE-20<br /> <br /> Dated: 19TH DAY OF FEBRUARY 2010<br /> <br /> PRESENT<br /> <br /> <br /> <br /> Sri S.S. NAGARALE, B.A, LL.B. (SPL.), President.<br /> Smt. D. LEELAVATHI, M.A.LL.B, Member.<br /> Sri BALAKRISHNA. V. MASALI, B.A, LL.B. (SPL.), Member.<br /> <br /> COMPLAINT NO: 2742 OF 2009<br /> <br /> Umesh Murthy N.<br /> No. 6, 4th Main Road<br /> Sree Kanteshwara Nagar<br /> Nandini Layout Post<br /> Bangalore 560 096 Complainant<br /> V/S<br /> The Manager<br /> CITI Bank N.A.<br /> Credit Card Division<br /> 506-507, Level 5, Prestige<br /> Meridian 2, No. 30, M.G. Road<br /> Bangalore 560 001 Opposite Party<br /> <br /> ORDER<br /> By the President Sri S.S. Nagarale<br /> <br /> This is a complaint filed by the complainant seeking that opposite party may be directed to receive the amount by way of installments and to reduce the rate of interest and charge interest as per the RBI guidelines. The complainant also prayed that opposite party be directed to consider the representation given by the complainant positively permitting him to pay the credit card dues on installment basis.<br /> 2. Opposite party filed defence version stating that complainant availed credit card facility bearing No. 4385 8715 3973 1001. He has agreed to abide by the terms and conditions of card during agreement. The rescheduling and restructuring of outstanding dues is the discretion of the opposite party, which is done in the rare exceptional circumstances. In case of unsecured loans the opposite party cannot allow repayment period for more than three years as per the RBI guidelines. The loan availed by the complainant on his credit card is for his personal use and it is not a business loan. Opposite party has charged interest as per the Card Member Agreement. Complainant has not raised any billing dispute. Therefore, opposite party has prayed to dismiss the complaint.<br /> 3. Arguments are heard.<br /> 4. I have perused the pleadings of parties and the documents.<br /> 5. It is admitted case of the parties that the complainant is having a credit card No. 4385 8715 3973 1001 for the last two years. As per the statement of account total outstanding due is Rs. 84,440/-. The complainant is not disputing the billing and the due amount. He has submitted that due to sudden economic crisis his business suffered and he has come in loss. His business has been fallen down by 80%. He is getting part payments from his customers. Therefore, he is not in a position to pay the dues in want of lumpsum and he has surely submitted that he is ready to pay the dues by way of installments along with interest. The complainant has given representation to the opposite party. He is not in a position to run his business due to pathetic condition of economy. He has made several requests to the opposite party, but unfortunately the opposite party has not given positive response to his request. Therefore, he has approached this fora. By going through the facts stated in the complaint if the complainant is permitted to pay the dues on the basis of installments along with interest as per the RBI guidelines in that case no injustice or prejudice will cause to opposite party. On the other hand the opposite party will be getting the money from the complainant. If the opposite party insists for payment of dues in one shot then it is very difficult for the complainant to pay the amount and opposite party has to take legal recourse for recovery of amount that may lead to delay and so many other problems. Instead of that if the opposite party accepts the payment by way of installment in that case definitely it will help both the parties. There is nothing wrong in giving proper response to the representation given by the complainant, permitting him to pay the credit card dues by way of installments. Consumer Protection Act is a social and benevolent legislation intended to protect better interests of the consumers. The complainant being a ‘Consumer’ under the Act his interests requires to be protected. He is not seeking any favour from the opposite party bank, on the other hand he is ready and willing to pay the dues on installment basis. Therefore, it is just, fair and proper to permit the complainant to pay due amount by way of installment along with interest as per RBI guidelines. The opposite party has submitted in the version that for unsecured loan the opposite party cannot allow repayment period more than three years as per the RBI guidelines. If it is so the complainant could be directed to clear off entire due within period of three years as per RBI guidelines since it is unsecured loan. The complainant has to clear the entire credit card due within period of three years. In the result I proceed to pass the following:<br /> ORDER<br /> 6. The complaint is allowed. The complainant is permitted to clear off the credit card No. 4385 8715 3973 1001 dues by way of installment alongwith interest as per RBI guidelines. He has to clear the entire dues within three years as per the RBI guidelines.<br /> 7. Send the copy of this Order to both the parties free of costs immediately. <br /> 8. Pronounced in the Open Forum on this 19TH DAY OF FEBRUARY 2010. <br /> Order accordingly,<br /> <br /> PRESIDENT<br /> We concur the above findings.<br /> <br /> MEMBER MEMBER<br /> <br />