Per Mr.Justice S.B.Mhase, Hon’ble President

Heard Mr.S.K.Pise-Ld.counsel for the complainant at length.

Complainant is a company dealing in manufacture of Laptops and sale which is branded as ACI Computer. They have made applications for various loans to the opponent bank.  One of the loans which was applied and sanctioned is a term loan for the Vasai office amounting to Rs.5 crores.  Second loan is a cash credit facility limit having limit of Rs.2.5 crores and third is letter of credit having limit of Rs.1.75 crores.  Further, grievance is that the term loan was sanctioned on 23/5/2006.  It further appears that by order dated 18/9/2006 the said facility was reduced to Rs.177.95 lakhs and the said loan was not released and, therefore, complaint. 

It is further to be noted that the opponents have issued a notice under section 13(2) of the Secutarization Act no.54 of 2002 for the enforcement of the security interest. Since they are manufacturers of laptop and dealing in sale of laptops and for the said business purpose loan was to be obtained and since it is not disbursed it cannot be said to be a deficiency in service as covered under the Consumer Protection Act, 1986.  Basically, complainant cannot be termed as ‘consumer’ under section 2(1)(d) of Consumer Protection Act, 1986, since, it is a commercial transaction.  It is further to be noticed that transaction is of 2006 and if loan is not released in 2006 cause of action has taken then and complaint filed in 2010 cannot be entertained, it is hopelessly barred by limitation.

Other grievance is in respect of renewal and enhancement of the OCC facilities. It is stated that the notice issued by the opponent under the Secutarization Act claiming amount of Rs.2,61,97,225/- in spite of overseas OCC limit of Rs.3.25 lakhs is bad and illegal and, therefore, issuance of such notice amounts to deficiency in service. This also shows that this complaint has been basically filed to bypass and circumvent provisions of the said Act and the remedy has been provided under the said Act when such notice has been issued and, therefore, such a relief cannot be granted in consumer complaint.  Therefore, taking into consideration the fact that it is a commercial transaction and it suffers from inordinate delay, we refrain ourselves to entertain the complaint.  Therefore, complaint stands rejected.  This is an attempt to abuse the process of law and, therefore, we impose cost of Rs.50,000/- on complainant.  This amount is to be deposited in the Legal Aid account of this Commission within 4 weeks. Registrar is hereby directed to take action under section 25(3) of Consumer Protection Act, 1986 for recovery of the said amount, if not deposited. Copies of the order be furnished to the parties.