Orissa

Jharsuguda

CC/10/2015

Subash Swain S/O-Late Bipin Swain - Complainant(s)

Versus

The branch Manager,Bank Of india - Opp.Party(s)

S.S.Mohanty

30 Jun 2015

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, JHARSUGUDA

                                        

CONSUMER  COMPLAINT  CASE NO. 10 OF 2015

 

Subash Swain, ( 38 Yrs.),

S/O: Late Bipin Swain,

R/O. At: B.T.M Colony,

PO: Industrial Estate,

PS/ Dist-.Jharsuguda, Odisha…………………………………..……………. Complainant.

     

                                           Versus 

 

The Branch Manager,

Bank of India,

At: Beheramal,

PO/PS/ Dist: Jharsuguda, Odisha…............................................................ Opp. Party.

 

Counsel for the Parties:-

 

For the Complainant                                      Shri B.B.Barai, Adv. & Associates.

For the Opp. Party                                        Shri S.K.Das,Adv. & Associates.

 

Date of Order: 30.06.2015

                                                            

                                                              Present

 

                                            1. Shri S.L. Behera, President.

                                            2. Shri S.K. Ojha, Sr. Member.

                                            

                                           

Shri S. K. Ojha, Sr. Member : - The brief facts of the complainant’s case is that, he has purchased one ERTIGA-VDI vehicle bearing Regn. No.OD-05-D-7311 which has been financed by the O.P for an amount of Rs.6,00,000/- only. The complainant was liable to pay the loan amount with interest in 60 nos. of EMIs. The complainant has paid Rs.84,617/- only till the date of filing.  The complainant could not be able to pay some of the installments in time due to financial crisis as a result the O.P. has seized his said vehicle illegally, hence this case.

The O.P. appeared through his counsel after being noticed and submitted written version wherein it has been stated that the complainant is a defaulter in making payments of installments. The O.P further submitted that the complainant has taken loan of Rs.6,00,000/- only excluding interest vide Loan agreement No. 55707231000074 having customer No.109484127.  The complainant has outstanding dues of Rs.6,18,024/- only in total on the date of repossession of the vehicle and with denying all the allegations imposed by the complainant, the O.P has prayed for dismissal of the case.

Heard and perused the case record along with materials available.

 The complainant was liable to repay the loan amount of Rs.6,00,000/- only plus interest in 60 nos. of monthly installments @ Rs.11,004/- only per month.  The loan agreement executed on dtd. 19.07.2013. As per the account statement issued by the O.P till dtd.09.02.2015 the complainant was on dues of Rs.6,17,051.80P only in total (including all the charges and future installments). The O.P, by complying the interim order passed by this Hon’ble Forum, has released the vehicle in favour of the complainant. 

The O.P has sanctioned loan facility to the complainant to purchase the vehicle, against which the complainant should also repay the same in time.

In view of above circumstances, we do not found any merit on the part of complainant, hence we dismiss the case with no costs.

            Accordingly the case is disposed of.

Order pronounced in the open court today the 30^th   day of June’ 2015 and copy of this order shall be supplied to the parties as per rule.              

                                                      I Agree,                                        

                                           S.L.Behera, President                                                          S. K. Ojha, Sr. Member

Dictated and corrected by me.

 

S. K. Ojha, Sr. Member.