Andhra Pradesh

Chittoor-II at triputi

CC/39/2015

Eddula Munisankar, S/o. E.Nagaiah - Complainant(s)

Versus

The Regional Manager, Bajaj Finance Ltd., - Opp.Party(s)

K.Chengalrayulu

04 Aug 2016

ORDER

 

 

                                                                                                Filing Date: - 28-08-2015                                                                                                             Order Date: - 04-08-2016

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM-II, CHITTOOR AT TIRUPATI.

PRESENT: - Sri. Ramakrishnaiah, President

                                                          Smt.T.Anitha, Member

        THURSDAY, THE FOURTH DAY OF AUGUST, TWO THOUSAND AND  

SIXTEEN

C.C.No.39/2015

Between

Eddula. Munisankar, S/o. E. Nagaiah,

Hindu, aged about 35 years,

Residing at P.NO-15,

Srinagar Colony,M.R.Palli,

Tirupati,

Chittoor District.                                                                        …. Complainant

 

And

1. The Regional Manager,

    Bajaj Finance LTD,

    4^th Floor, Bajaj Finserve Corporate Office,

   Ahmednagar Road,

   Vimannagar,

   Pune – 411044,

   Maharashtra State.

 

2. The Branch Manager,

    Bajaj Finserve LTD,

    2^nd Floor,

    Sarojini Complex, 2^nd Floor,

    Air Bye Pass Road,

    New Balaji Colony,

    Union Bank (UP),

    Tirupati.                                                                                …. Opposite parties

           This complaint coming on before us for final hearing on 15.07.2016 and upon perusing the complaint, written arguments of the complainant and opposite parties and other relevant material papers on record and on hearing of Sri. K.Chengalrayulu counsel for the complainant and Sri.V.Upendra, counsel for the opposite parties no.1 &2 having stood over till this day for consideration, the Forum made the following.

                                                                    

                                                                     ORDER

DELIVERED BY SMT. T. ANITHA, MEMBER

ON BEHALF OF THE BENCH

          This complaint is filed under Sections 12 and 14 of the Consumer Protection Act 1986, complaining the deficiency of service on part of the opposite parties and prayed this Forum to direct the opposite parties to pay back the excess amount paid by the complainant towards loan i.e. Rs.25,000/- and to pay compensation of Rs.30,000/- for causing mental agony and deficiency of service and to pay Rs.2,000/- towards litigation expenses.

          2. The brief facts of the case are:  The complainant took personal loan of Rs.69,687/- from opposite party no.2 which has to be repaid in 36 monthly installments with monthly EMI of Rs.3628/- which starts from 05.10.2012. The complainant further submits that at the time of taking loan, the opposite party no.2 stated that they will provide insurance of Rs.1,00,000/- to him. But in spite of several reminders made by him they failed to supply the policy copy to the complainant  and in order to prove his payment of installments towards loan he filed the receipts dated 12.6.2013,15.7.2013, 21.8.2013,23.11.2013,30.12.2013,23.01.2014 and 28.2.2014. The complainant further stated that in order to foreclosure of the loan he paid Rs.25,000/-  at a time on 25.03.2014 with the instructions of the opposite party no.2. But after receipt of the said amount the opposite party no.2 failed to issue full satisfaction record to him. Even after several requests made by the complainant the opposite party no.2 failed to issue the full satisfaction record which is nothing but deficiency of service and unfair trade practice on part of the opposite parties. The complainant caused a legal notice to the opposite party no.2 on 10.11.2014 calling upon them to issue full satisfaction record.  But after receipt of the notice the opposite party no.2 failed to comply the same. Hence he filed the present complaint.

           3. Both the parties came in to appearance and the opposite party no.2 filed the written version and same was adopted by the opposite party no.1. The opposite parties admitted the loan and further contended that the complainant has issued ECS Mandate towards the payment of installments and installment nos. 24 to 36 got dishonored with an endorsement of “Insufficient Funds”, the complainant has to pay an amount of Rs.47,164/- towards penal charges and further contended  the  insurance policy copy for Rs.1,00,000/- which was taken by the complainant along with the loan in 2012 was dispatched to him in the year 2012 itself. The complainant filed the present complaint in September, 2015 while the said policy was expired in the year August 2013 itself. On the ground itself the complaint is liable to be dismissed. Hence the complainant is not entitled for any reliefs as prayed for. Hence the complaint is liable to be dismiss with costs and the opposite parties further prayed to this Forum to direct the complainant to pay Rs.47,164/-  towards penal charges and regularize the loan account.

          4.  The complainant filed his evidence on affidavit and got marked Ex.A1 to A5. On behalf of the opposite parties one Shaik Chand Basha S/O Shaik Hyder Vali, Asst.Manager Collections, filed his evidence on affidavit and Exs.B1 to B7 were marked. Both parties filed their written arguments and oral arguments were heard.

         5. Now the Points for consideration are;-  

               i)Whether the complainant having paid the loan amount in full satisfaction?            Whether there is any deficiency of service on part of the opposite parties?

             ii)Whether the complainant is entitled to the reliefs as prayed for?

             iii)To what result?

          6. Point No:-(i):-  There is no dispute regarding the loan taken by the complainant from the opposite party no.2 as stated by him but the said loan has to be repay by him in 36 installments with an EMI of Rs.3,628/- which commence from 05.10.2012 to 05.10.2015. And he stated that he paid the above said EMIs regularly to the opposite party and further stated that on 25.03.2014 with the advice of the opposite party he paid  Rs.25,000/- at a time in order to discharge the loan. But the opposite parties failed to issue full satisfaction and close the loan account even after he paid the outstanding amount. The complainant further contended that the opposite party assured and collected premium for the insurance policy but failed to issue the policy copy to the complainant. The complainant in order to prove his case got marked Ex.A1 to A5.

          7. The counsel for the opposite party contended that the complainant availed loan under vide loan agreement dated 30.08.2012 i.e. Ex:B5 and he executed the loan application i.e.Ex:B4 and he took loan of Rs.74,000/- and the contract period is  for 36 months which starts from 5.10.2012 and further contended that the complainant failed to                     pay the installments regularly and installment nos.24,25,26,27,28,29,30,31,32,33,34,35 and 36 got dishonored due to the reason of “In sufficient Funds” and an amount of Rs.47,164/- (besides penal charges) stands due. The opposite parties further stated that the complainant had availed  insurance policy along with the loan policy dated 17.09.2012 i.e. Ex: B2 xerox copy of the policy and same was dispatched to the complainant in the year 2012 itself along with loan kit and the said policy was expired by August, 2013 itself.  The opposite parties further contended that the above said policy is

“ The group term insurance policy”  issued by  Bajaj Allianz Life Insurance Company in favour of Bajaj Finance Company Limited., in order to protect the loan borrowers from risk of death due to any reason during the term of the scheme.  And also contended that  the “ Supreme Court has held that merely because an insurance holder had approached  a court for redressal of his grievance against the company and service under an Insurance Policy can arise only after the occurrence of the contingency viz., the maturity of policy of the death of the insured.  In this case the complainant filed the complaint on September, 2015 and the policy got expired in August, 2013 itself.  Hence the period of the limitation was expired by the date of the complaint. 

          8. Now the in-disputed fact is that the loan agreement stipulated the payment of the loan amount in 36 months with an installment of Rs.3,628/-  which starts 05.10.2012 and in order to prove his payments the complainant marked Ex:A5 bank statement filed by the complainant showing the payment made by him  and also he filed the receipts i.e.Ex:A3 (7 in number) for some payments and Ex:A4  receipt dated 25.03.2014 regarding the payment of Rs.25,000/-. The complainant stated that totally he paid Rs.86,676/- but as per Ex:B1 statement copy of loan account of the complainant  clearly reveals that he paid Rs.83,444/- only. But as per loan agreement i.e.Ex:B4 totally he has to pay 36 X 3,628= 1,30,608. Hence the complainant has to pay outstanding balance of Rs.47,164/-. Hence being the defaulter in some installments and also the complainant is still due in payment of outstanding balance Rs.47,164/- the question of deficiency of service on part of the opposite parties would not arise. Hence we are of the opinion that the complainant would not approach this Forum with clean hands. Hence this point is answered against the complainant.

           9. Point (ii):-   As already in the point no.1 discussed that the complainant is still due of outstanding balance of Rs.47,164/-  and the complainant  is the defaulter of some installments to the opposite party. Hence being a defaulter is not entitled to the reliefs as prayed for. And the complainant is further directed to pay the outstanding balance of Rs.47,164/- as on the date of the complaint with subsequent interest @ 6% p.a. from the date of complaint i.e.28.08.2015 within one month from the date of this order.

          10.Point (iii):-    In the result complaint is dismissed, directing the complainant to pay the outstanding balance of Rs.47,164/- (rupees forty seven thousand one hundred and sixty four only) as on the date of the complaint with subsequent interest @ 6% p.a. from the date of the complaint i.e.28.08.2015 within one month from the date of this order. The opposite parties also is here by directed to receive the outstanding balance of amount of Rs.47,164/- along with simple interest  6% p.a. from the date of the complaint and close the account on receipt of the amount as directed. The complainant is here by directed to comply with the order within one month from the date of receipt of copy of this order.

          Dictated to the stenographer, transcribed and typed by her, corrected and pronounced by me in the Open Forum this the 04^th day of August, 2016.

                 Sd/-                                                                                                  Sd/-

           Lady Member                                                                                             President

 

 

APPENDIX OF EVIDENCE

 

Witnesses Examined on behalf of Complainant.

 

PW-1: E. Munisekar (Chief Affidavit filed).

 

Witnesses Examined on behalf of Opposite Parties.

 

RW-1: Shaik Chand Basha (Chief Affidavit filed).

 

EXHIBITS MARKED ON BEHALF OF THE COMPLAINANT

 

Exhibits (Ex.A)	Description of Documents
	Photo copy of Loan Term Sheet with no date.
	Office copy of Legal Notice issued by the council of the complainant with postal receipt. Dt: 10.11.2014.
	Photo copies of payment slips made by complainant -7 Receipts.
	Photo copy of Final payment slip made by the complainant. Dt: 25.03.2014
	Photo copy of Customer Account Ledger Print. Dt: 19.09.2011.

 

EXHIBITS MARKED ON BEHALF OF THE OPPOSITE PARTIES

 

Exhibits   (Ex.B)	Description of Documents
1.	Photo copy of Statement of Account of E. Munisekar (Complainant). Dt: 02.11.2015.
2.	Photo copy of Certificate of Insurance in favor of the complainant issued by the Company (Opposite Party). Dt: 17.09.2012.
3.	Photo copy of Statement of Account relatives to complainant filed on behalf of the Opposite Parties. Dt: 10.03.2016.
4.	Photo copy of Loan application executed by the complainant infavour of the Company (Opposite Party’s). Dt: 30.08.2012.
5.	Photo copy of Loan Term and condition executed by the Complainant. Dt: 30.08.2012.
6.	Photo copy of Promissory note executed by the complainant in favour of the company (Opposite Party’s). Dt: 30.08.2012.
7.	Photo copy of Loan Disbursement Memo/Approval Sheet-PLCS. Dt: 30.08.2012.

 

                                                                                                                         Sd/-

                                                                                                                     President

 

                                                          // TRUE COPY //

                                                               // BY ORDER //

 

 

 

Head Clerk/Sheristadar,

                                                  Dist. Consumer Forum-II, Tirupati

 

 

Copies to: The Complainant

                 The Opposite Parties.