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 party not to repossess the vehicle till final disposal of consumer complaint, extend the loan period for another 12 months fixing EMI @ Rs.40,000/- per month and to waive out the illegal charges claimed, and compensate Rs.50,000/- towards mental agony and Rs.40,000/- towards financial loss”.

            The brief fact of the complainant is that, the complainant purchased an Ashok Leyland Truck bearing Regd. No.OD-21H-3821 financed by opposite party Rs.26,00,000/- vide loan agreement No.YO/G/0108/17/000033 on 01.6.2018 with monthly EMI of Rs.61,100/- commencing from 01.8.2018. the complainant has been repaying his monthly EMIs regularly and is in defaulter paying the EMI for the month of August, 2021 due to complainant could not ply the vehicle for lock down and shutdown for such requested the opposite party to reschedule the EMI in enhancing the time limit of the aforesaid loan for another one year, but opposite party taking some pretext or other deferred the matter. On 16.8.2021 the opposite party threatened to pay the defaulted amount within a week failing which opposite party shall take steps for repossession of the vehicle. Such conduct of the opposite party after representation of the complainant to the opposite party is no doubt an unfair trade practice and deficiency in service during the lockdown period.  

            Opposite party has filed written version stating that, the transaction between the parties is a contract where both parties have to perform their part of obligation. As per the contract on 01.6.2018 the cost of the vehicle is Rs.26,00,000/- out of which an amount of Rs.26,81,831/- was financed by the opposite party. Complainant had also agreed to pay the other finance charges amounting to Rs.81,831/. Hence the complainant is liable to pay total sum of Rs.36,54,182/- towards the contract value within prescribed time as stipulated from the date of agreement. Admittedly the complainant is a chronic defaulter in repaying the loan dues as per the contents depicted in the complaint. Time is the essence of contract of this nature which both parties are expected to observe. But the complainant has miserably failed to make payment of the installments as per agreed terms and conditions for which a huge amount of loan remained unpaid.

            It is undisputed fact that the complainant is in default of several installments and opposite party is in custody of the vehicle. We had directed both the parties to give written note of arguments and up to date status on 13.10.2022 but till today it has not been filed for which we are constrained to direct the complainant to pay the entire dues up to the seizure of the vehicle within 45 days in two installments. The first installment i.e. 60% of the entire amount shall be paid within 15 days and rest 40% amount shall be paid before 45 days and the installment from the date of seizure to till the date of release shall be paid before the expiry of agreement period in equal installments along with regular installment. If the complainant fails to pay the 1^st installment of 60% within 15 days then the opposite party is free to auction the vehicle. If complainant pays 60% of the pending dues then the vehicle shall be released immediately after receipt of 1^st installment of 60%. With the aforesaid observation and direction the consumer complaint is disposed of without any cost.  

            Pronounced in the open Commission on this 14^th Dec.,2022