DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, PALAKKAD

Dated this the 18^th day of March 2009.

Present : Smt. H. Seena, President

: Smt. Preetha.G. Nair (Member)

Smt. Bhanumathi.A.K. (Member)

C.C.No.84/2008

R. Sathyadas

5/172, Sheejalayam

Pulimparamba

Nemmara

Palakkad. - Complainant

(Party in person)

V/s

The Manager

M/s. G E Money

18/3680, Nirmal Chambers

Chandra Nagar (P.O)

Palakkad. - Opposite Party

O R D E R

By Smt. H. Seena, President

The case of the complainant is as follows.

The complainant has taken a personal loan from the Opposite party institution. He is making regular payments towards the loan amount. Opposite party has agreed to renew the loan amount and refix the interest rate within a period of six months. When no steps was taken by the Opposite party for the same, the complainant contacted the Opposite party. Opposite party assured the complainant that the loan will be renewed in the 12^th month. The Opposite party has not taken any steps so far for renewal. Further the opposite party has informed that renewal of loan and refixation of interest has been stopped and all the customers has to pay the same EMI till the closure of the transaction. Due to this act of the Opposite party, complainant is forced to pay huge interest and hence the complaint. Complainant prays Rs.50,000/- as compensation for the deficiency of service on the side of the Opposite party.

Opposite party was set exparte.

Evidence adduced consists of the affidavit and Ext A1 marked on the side of the complainant.

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Issues for consideration are

1. whether there is deficiency of service on the part of the opposite party?

2. If so, what is the reliefs and cost?

    

Points 1 and 2

As per Exhibit A1 which contains details regarding the repayment of loan, it can be seen that the loan amount of Rs.41,798/- has to be repaid in 30 instalments with an EMI of Rs.2,782/-.

Complainant is aggrieved by the fact that the Opposite party has not satisfied the assurance regarding refixation of interest and renewal of loan amount. Other than what is stated in the affidavit, complainant has not adduced any documentary evidence in support of this aspect. Since the Opposite party has not appeared before the Forum even after receipt of notice, the evidence tendered by the complainant stands unchallenged.

In view of the above circumstances we are of the view that there is deficiency of service on the side of the Opposite Party.

In the result, complaint allowed. Opposite Party is directed to pay an amount of Rs.5,000/- as compensation for the deficiency of service on the part of the opposite party and Rs. 1,000/- as cost of proceedings. Order shall be complied within one month from the date of receipt of the order failing which the whole amount shall carry an interest @ 9% per annum from the date of order till realization.

Pronounced in the open court on this the 18^th day of March 2009.

PRESIDENT(SD)

MEMBER (SD)

MEMBER (SD)

APPENDIX

Witness examined on the side of Complainant

Nil

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Witness examined on the side of Opposite party

Nil

Exhibits marked on the side of the complainant

Exhibit. A1 – Welcome letter from G E Money dated 13.12.2007

Exhibits marked on the side of the Opposite Party

Nil

Cost (allowed)

Rs.1,000/- (Rupees One thousand only) allowed as cost of proceedings

Forwarded/By Order

Senior Superintendent