Kerala

Idukki

CC/61/2019

Ganeesh moorthy - Complainant(s)

Versus

Bajaj Finance Ltd - Opp.Party(s)

27 Sep 2019

ORDER

DATE OF FILING :20/03/2019

IN THE CONSUMER DISPUTES REDRESSAL FORUM, IDUKKI

Dated this the 27^th day of September 2019

Present :

SRI. S. GOPAKUMAR PRESIDENT

SMT.ASAMOL P. MEMBER

CC NO. 61/2019

Between

Complainant : Genesh Moorthy,

Nursery Division, Pallivasal Estate,

Pallivasal P.O., Munnar.

(By Adv: Shiji Joseph)

And

Opposite Party : 1 . Bajaj Finance Ltd.,

Akurdi, Pune – 411 035,

Represented by its Managing Director.

2 . Bajaj Finance Ltd.,

2^nd Floor Manjuron Estate,

Cheranellur Road, By pass Edappalli,

Cochin – 682 024.

Represented by its Manager.

(Both by Adv: C.K.Sreejith)

O R D E R

SMT. ASAMOL P. (MEMBER)

 

The case of the complainant is that,

 

The complainant purchased the vehicle on 07/12/2015 with the financial assistance of the opposite parties. The complainant availed a loan of Rs.1,35,000/- for purchasing the vehicle and monthly EMI is Rs.4902/-. The second opposite party has a branch office at Adimali and they arranged the loan. The complainant remitted substantial amount of the loan. However due to financial difficulties, the complainant could not remit the installment and the opposite parties are charging 6% penal interest and in addition to that other charges are also added to the loan amount. On 02/03/2019, the first opposite party has sent a lawyer notice demanding Rs.88,775/- as loan outstanding and to surrender the vehicle to the opposite parties.

(Cont....2)

 

-2-

The charging of huge amount as penal interest and other charges are illegal and hence the act of the opposite parties amounts to deficiency in service. Against this the complainant filed this petition seeking relief such as to direct the opposite parties to reschedule the loan installments and impose only 12% penal interest in the defaulted installments and further direct them to pay cost and compensation.

 

Upon notice opposite parties didn't appear before this Forum. So they called absent and set exparte, after they filed a petition to setting aside exparte order and allowed the petition by the Forum. The opposite parties filed vakkalath. But they didn't file version against the complainant.

 

Evidence adduced by the complainant by way of document such as copy of demand notice marked as Ext.P1. From the opposite parties side no evidence is produced.

 

Heard both sides,

 

The point that arose for consideration is whether there is any deficiency in service from the part of opposite parties, and if so, for what relief the complainant is entitled to ?

 

The Point:- We have heard the counsel for both parties and had gone through the evidence on record. It is an admitted fact that the complainant failed to remit some installments of the vehicle loan. The version of the complainant that the opposite parties denied to accept some installments from the complainant, and they demanded the entire loan amount along with huge penal interest is acceptable. In the complaint, the complainant specifically admitted that he is ready to repay the future installments with interest @ 12%, if the opposite parties re-schedule the loan installments. In this case, the Forum is of a considered view that the complainant is not a chronic defaulter and more over he was not evaded from the further payment and he is always ready and willing to pay the defaulted installments along with the future installments.

 

(Cont....3)

-3-

 

On the basis of above observation, the complaint allowed in part. Opposite parties are directed to re-schedule the loan installments by imposing 12% penal interest in defaulted installments and issue a statement of account to the complainant within 30 days from the date of receipt of the copy of this order. If the complainant is serving such a statement of account, he is directed to repay the defaulted installments along with 12% penal interest in lump sum within a period of 30 days from the date of receipt of the statement of account and continue future installments as per the loan agreement.

 

No order to cost or compensation.

 

Pronounced in the Open Forum on this the 27^th day of September, 2019.

 

Sd/-

SMT. ASAMOL P. (MEMBER)

Sd/-

SRI. S. GOPAKUMAR (PRESIDENT)

 

APPENDIX

Depositions :

On the side of the Complainant :

Nil

On the side of the Opposite Party :

Nil

Exhibits :

On the side of the Complainant :

Ext.P1 -Copy of demand notice

On the side of the Opposite Party :

Nil.

Forwarded by Order,

 

SENIOR SUPERINTENDENT