By Sri. Chandran Alachery, Member:-

The complaint filed under section 12 of the Consumer Protection Act for an order directing the Opposite Parties to pay Rs.120/- being the overdraft interest levied by Opposite party from the Complainant, Rs.2,100/- being service charge levied, with 12% interest and also to pay compensation of Rs.10,000/- to the Complainant.

2. Complaint in brief:- The Complainant availed a loan of Rs.50,000/- from Opposite Parties as hypothecation of his vehicle KL 12 H 5270 Motor Cycle on 10.01.2013. The said loan is to be repaid in 24 monthly instalments with interest. The Opposite parties issued chart for repayment showing Rs.2,600/- as EMI and it should be paid as 10^th of every month. The Complainant paid the entire instalments without any delay as stated in chart. The Opposite Parties acknowledged the payments. The Complainant on verifying the account statement, found that the Opposite Parties levied Rs.120/- as overdraft interest and Rs.2,100/- as service charge from the Complainant unlawfully. When the Complainant questioned about it, the Opposite party not cared upon. Aggrieved by this, the complaint is filed.

3. On receipt of complaint, notices were issued to Opposite parties and Opposite Parties No.1 and 2^nd appeared before the Forum and filed version. 3^rd Opposite party not appeared and 3^rd Opposite party is set exparte. In the version of 1^st and 2^nd Opposite parties, the Opposite parties admitted and issuance of loan and issuance of repayment chart to the Complainant. But the repayment made by the Complainant is not in the correct date as per chart. There was a delay of certain days in each EMI by the Complainant. So the Opposite Parties levied Rs.120/- as overdraft interest and service document charge of Rs.2,100/- from the Complainant as lawful charges. There was no unfair trade practice or deficiency of service from the part of Opposite parties.

4. On perusal of complaint, version and documents, the Forum raised the following points for consideration.

1. Whether there is deficiency of service and unfair trade practice from the part of

Opposite parties?

2. Relief and cost.

5. Point No.1:- The Complainant filed proof affidavit and is examined as PW1 and documents are marked as Ext.A1 and A2. The 1^st and 2^nd Opposite Parties produced one witness and is examined as OPW1. Ext.A1 is the chart which shows 23 instalments of Rs.2,600/- and 24^th instalment of the 1,971/- as EMI. The loan amount is Rs.50,000/- and the Opposite parties calculated interest also and fixed the instalments in 24 EMI. It is seen that the Complainant paid all the instalments within the specified period as per chart. It is admitted by the Opposite parties also. But Opposite parties stated that there are delay of certain days in payment of EMI by the Complainant. The Forum is of the view that, when a specified period is fixed for the repayment of the loan with interest, levying additional overdraft charge for delay of certain days in each EMI is unlawful. More over, the Forum noticed that there is no unreasonable delay in repayment from the part of Complainant. More over, the Opposite parties levied documentation charges from the Complainant which is also not proper. The opposite parties already levied flat rate interest for the loan amount and divided it in to instalments. The Complainant paid all the instalments within the specified period. So the Forum found that levying overdraft interest and documentation charges from the Complainant is unfair trade practice and deficiency of service from the side of Opposite parties. Point No.1 is found accordingly.

6. Point No.2:- Since point No.1 is found in favour of Complainant, the complainant is entitled to get cost and Compensation.

In the result, the complaint is partly allowed and the Opposite parties are directed to pay Rs.120/- (Rupees One hundred and Twenty) only being the overdraft interest levied from the Complainant and Rs.2,100/- (Rupees Two thousand and One hundred) only being the documentation charges levied from the Complainant to the Complainant. The Opposite Parties also directed to pay Rs.1,000/- (Rupees One thousand) only as compensation and Rs.1,000/- (Rupees One thousand) only as cost of the proceedings. The Opposite parties shall comply the order within 30 days from the date of receipt of this order failing which the Complainant is entitled to get 12% interest for the whole sum.

Dictated to the Confidential Assistant, transcribed by him and corrected by me and pronounced in the Open Forum on this the 18^th day of September 2015.

Date of Filing:04.03.2015.

PRESIDENT :Sd/-

MEMBER :Sd/-

MEMBER :Sd/-

/True Copy/

PRESIDENT, CDRF, WAYANAD.

APPENDIX.

Witness for the complainant:

PW1. Anil T.C Complainant.

Witness for the Opposite Parties:

OPW1. Aneesh. Business Development Manager,

Muthoot Capital Services Ltd., Sulthan Bathery.

Exhibits for the complainant:

A1. Monthly instalment Payment Book.

A2. Copy of Account statement.

Exhibits for the opposite Parties.

Nil.