Tamil Nadu

North Chennai

CC/164/2017

Mr.G.Shanmugham,Mr.S.Bhavani sankari - Complainant(s)

Versus

The Manager state Bank of india, The Assistant General manager State bank of India - Opp.Party(s)

N.Dhanasekaran

07 Feb 2020

ORDER

 

                                                            Complaint presented on:  12.10.2017

                                                               Order pronounced on:  07.02.2020

 

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, CHENNAI (NORTH)

2^nd Floor, Frazer Bridge Road, V.O.C.Nagar, Park Town, Chennai-3

 

PRESENT:  TMT.K.LAKSHMIKANTHAM, B.Sc., B.L., DTL.,DCL, DL & AL -  PRESIDENT

 

TMT.P.V.JEYANTHI B.A., MEMBER - I

 

FRIDAY THE 07^th DAY OF FEBRUARY  2020

 

C.C.NO.164/2017

 

1.Mr.G.Shanmugham,

 

2.Mrs.Bhavani Sankari,

Both Residing at No.76/26,

Venkatesan Street, Kosapet,

Chennai – 600 012.

                                                                                     …..Complainants

 ..Vs..

1.The Manager,

State Bank of India,

Formerly known as State Bank of Mysore,

Kilpauk  Garden Branch,

No.68,  Landons Road,

Chennai – 600 010.

 

2. The Assistant General Manager,

State Bank of India,

RASME ECC II Floor,

No.231, N.S.C.Bose Road,

Chennai – 600 001.

.....Opposite Parties

Counsel for Complainants                        : M/s.N.Dhanasekaran &

                                                                      P.Gopalakrishnan

 

Counsel for  opposite parties                      : M/s.Rajendran Raghavan

ORDER

 

BY PRESIDENT TMT.K.LAKSHMIKANTHAM, B.Sc., B.L., DTL.,DCL, DL & AL

          This complaint is filed by the complainant u/s 12 of the Consumer Protection Act.1986.

1.THE COMPLAINT IN BRIEF:

          The complainants being husband and wife have applied for housing loan with the 1^st opposite party and they got a sanction letter from the 1^st opposite party dated 03.08.2007 that they are sanctioned Housing Loan under a Segment Advance for a term loan of Rs.19,60,000/-. The complainants  loan is to be paid in Equated Monthly instalments of Rs.24,130/-. The advance will be covered by SBI Super Suraksha Group Insurance Scheme. The complainants loan commenced on 09.08.2007.  Therefore the insurance started deduction from 09.08.2007 to 31.03.2008 for a premium sum of Rs.2,47,006/- in all loan amount of Rs.22,00,000/- as on 31.03.2008 and instalment started from 01.04.2008 and they paid EMI of Rs.27,750/-.  At the time the rate of interest  was 12.25% p.a . Even though insurance premium amount is deducted in their Loan Account, it was given credit after 9 ¼ years (112 months) sum of Rs.2,47,006/-. Since the premium was paid after 9 ¼ years (112 months) the complainant’s  are entitled to get  interest at 9 ¼ p.a from the date of deduction from their account till date of payment of Insurance Premium on 08.03.2008 in all amounting to Rs.2,96,265/-. The  complainants are  regular in payment of EMI without any default when the rate of interest has at 12.25% per annum.  The monthly instalments were Rs.27,745/- but when the rate of interest was decreased the EMI amounts were increased. When rate of interest was at 10.40% per annum the EMIs were Rs.29,975.00 and but when rate of interest was at 9.90% p.a EMI’s were Rs.36,475/-.  Therefore there were discrepancies in their Loan Account. The complainants instalment started from 01.04.2008 to 31.03.2016 for a period of  8 years i.e 96 instalments. So far the complainants have paid hundred instalments upto 31.08.2016. It was surprised to complainants from the instalment statement from 01.04.2016 to 31.03.2017 they are in arrears of Rs.4,89,918/- even though they have  paid  an excess of amount  Rs.3,00,000/-. Therefore a sum of Rs.5,98,256/- has to be deducted from clear balance of Rs.15,23,000/-  payable by the complainants and complainants are liable to pay a sum of Rs.9,24,744/- only after deducting the excess amount of Rs.5,98,256/- collected by the bank. Therefore they caused a legal notice dated 09.08.2017 due to discrepancy in the statement and deficiency in service. Hence this complaint.

2. WRITTEN VERSION OF THE OPPOSITE PARTIES IN BRIEF:

          As regards the nature and details of the loan the same has been admitted by the complainant.  Under such circumstances it is for the complainant to maintain the loan account properly by servicing the interest  and cost and through the bank account maintained with this opposite party. The interest of the aforesaid loan amount has been charged by the opposite parties at the contractual rate as applicable from time to time. The complainant subsequent to the availment of the loan had been irregular and the Account in NPA. There was no proper repayment of loan account. NPA account for other recovery follow up has been transferred to the ARM branch Alwarpet, Chennai 600  018. Hon’ble Forum may  dismiss the present complaint as the complainant had mislead the forum with wrong calculation.

 

 

3. POINTS FOR CONSIDERATION:

          1. Whether there is deficiency in service on the part of the opposite parties?

          2. Whether the complainant is entitled to any relief? If so to what extent?

4. POINT NO :1 

          The complainants applied for a housing loan with the 1^st opposite party which was sanctioned with an equated monthly instalment of Rs.24,130/- and informed vide Ex.A1 sanction information letter. Gross premium of Rs.1,35,379/-was received  by SBI Life Insurance  and the certificate dated 14.08.2013 in the name of the complainants are in Ex.A2 and  ex.A3. Consolidated Statement from August 2007 to May 2017 is marked as Ex.A4. Case of the complainant is that he was regular in repayment of the loan amount and there are discrepancies in the  statement of account due to which act of the opposite parties  the complainants are put to mental agony, stress and strain. The complainants  have issued legal notice  to opposite parties  to rectify their loan account under Ex.A6 dated  09.08.2017 under acknowledgements in Ex.A7 and Ex.A8.  The opposite parties have not replied.  Hence the complaint.

05. Ex.A1  is sanction letter   the and repayment of   EMI of  @ Rs.24,130/-p.m. On perusal of the statement of accounts it is noted that repayment was not made on regular monthly basis by the complainant. On 20.04.2017 a letter under Ex.A5 was sent by the 1^st opposite party   to the 1^st   complainant stating that repayment was irregular  and the loan account is due for stamping on 29.04.2017 and also the complainant is advised to regularize his account.  No account statement of the complainants is filed thereafter to show that they have regularized their  loan payment. Hence the complainants are the defaulters. It is also answered by the opposite parties  that the insurance coverage for the loan advance amount was paid by the complainant  on the date of commencement of EMI payment.  The opposite parties  have not encashed the cheque given by the complainant  and bonafide re-credits were also made  and there is no discrepancy in the same.  The loan account has become NPA and it is transferred to ARM branch of the opposite party  for further follow-up as per the statement of opposite parties. There is no proof filed by the  complaints for their approach to the bank  to redress their grievance and to  clarify the matter.  Instead they have chosen to file a complaint after the receipt of a letter pointing out their  default payment from opposite parties. Irregular payment and  payment in default by the complainant is well noticed in the statement of accounts filed by the complainant itself. Therefore there is no deficiency in service found  on the part of opposite parties and point No.1 is answered accordingly.

06. POINT NO.2:

In view of the discussions held by us in point No.1, the complainants are not entitled to any relief and the complaint is liable to be dismissed. 

          In the result, this complaint is dismissed. No costs.

          Dictated to the Steno-Typist transcribed and typed by her corrected and pronounced by us on this 07^th day of February 2020.

 

MEMBER – I                                                                PRESIDENT

 

 

 

LIST OF DOCUMENTS FILED BY THE COMPLAINANT:

Ex.A1 dated 03.08.2007                   Sanction Letter

 

Ex.A2 dated 14.08.2015                   Certificate of Insurance in the name of 1^st 

                                                    complainant

 

Ex.A3 dated14.08.2015           Certificate of Insurance in the name of 2^nd

                                                     complainant

 

Ex.A4 dated 05.08.2017                   Consolidated Statement of Accounts from

                                                     09.08.2007 to 31.05.2017

 

Ex.A5 dated 20.04.2017                   1^st opposite party sent letter to complainant

 

Ex.A6 dated 09.08.2017                   Legal Notice

 

Ex.A7 dated 14.08.2017                   Postal Acknowledgement from 1^st opposite party

 

Ex.A8 dated 16.08.2017                   Postal Acknowledgement from opposite party – II

 

LIST OF DOCUMENTS FILED BY THE   OPPOSITE PARTIES:

 

                                                ….. NIL …..

 

 

 

MEMBER – I                                                               PRESIDENT