Order No. 2 date: 21-03-2018

Sri Shyamal Gupta, Member

Record is put up today for passing order in respect of the admissibility of this case.

Brief facts of the complaint case are that the Complainant availed of financial assistance to the tune of Rs. 18,00,00,000/- from the OP which was repayable in 9 years. As the OP was allegedly charging interest arbitrarily, the Complainant approached the OP to foreclose the said loan.  In reply, the OP asked the Complainant to deposit Rs. 16,34,16,444/-, including pre-payment charge of Rs. 92,30,980/- to do the needful.  Being taken aback to receive such exorbitant demand from the side of the OP towards pre-payment charge, Complainant filed this complaint.

Heard the Ld. Advocate of the Complainant on the issue and perused the material on record.

In terms of Sec. 17(1)(a)(i) of the Consumer Protection Act, 1986, this Commission is entitled to entertain   complaints where the value of the goods or services and compensation, if any, claimed exceeds rupees twenty lakhs but does not exceed rupees one crore.

Admittedly, the Complainant availed of a loan amounting to Rs. 18,00,00,000/- from the OP.  Besides this, the Complainant has claimed compensation of Rs. 5,00,000/- and some other reliefs. 

As it appears, the sum total of the value of service together with various reliefs sought for by the Complainant exceeds the pecuniary jurisdiction of this Commission by several notches.  For this very reason, we cannot entertain this complaint.

In view of this, we are left with no other alternative but to reject the complaint.

Hence,

O R D E R E D

The complaint stands dismissed against the OP being not maintainable.  Complainant, however, shall be at liberty to ventilate its grievance before the appropriate Court of Law, if it so desires.  We make no order as to costs.