1. Sri Suven Mazumdar,
2. Smt. Seuli Mazumdar,

            Both residing at             2/258A, Sree Colony,

            Regent Estate, Jadavpur, Kolkata-92.                                         _________ Complainants

____Versus____

1. Authorized Signatory represented by

            ICICI Home Finance Co. Ltd.,

            4A, Central Plaza, 4^th Floor, Central Plaza,

            2/6, Sarat Bose Road, Kolkata-19  and

            228A, A.J.C. Bose Road, Landmark Building,

            11^th Floor, Kolkata-20, P.S. Bhowanipore.                                   ________ Opposite Party

Present :           Sri Sankar Nath Das, Hon’ble President

                          Dr. Subir Kumar Chaudhuri, Member.

                        Smt.  Samiksha Bhattacharya, Member

Order No.    27     Dated   11-06-2014.

          The case of the complainants in short is that due to acute shortage of accommodation and space in Kolkata, the complainants desired to purchase a self contained flat in and around and within the vicinity of Kolkata. For the self same purpose the complainant approached the ICICI Home Finance, i.e. o.p. to have the financial services rendered in respect of purchase of a flat in Kolkata. O.p. offered an agreement for extending loan to the complainant with the condition of intermittent payment of EM I with interest with easy installments.

            Being assured and with a ray of hope for owning a flat, the complainant took the venture to go in for the chance of taking the loan as offered by them. The total loan for Home Finance was sanctioned by o.p.  i.e. ICICI Home Finance was to the tune of Rs.4 lakhs which was to be repaid or refunded with EMI Rs.3967/- per month payable on 156 installments. Complainant is regular and systematic in payment of monthly EMI Rs.3967/- through ECS together with interest and have paid total amount Rs.3,23,550/- so far, along with interest.

            The rate of interest charged by o.p. on the complainant fluctuated off and on the usual inclination of charging interest is on the higher side. In order to get rid of the herculian problem and labyrinth of the calculation of the interest the complainant intends to clear the entire amount of residual loan after deduction of principal and interest so far paid.

            Complainant has so far paid Rs.3,23,550/- as principal and interest and the balance amount of Rs.40,000/- approx as on 28.6.11 as per calculation shall be paid at a time i.e. one time payment with interest to allay and remove the doubts and disbelief on both sides. Hence, the case was filed by the complainant with the prayers contained in the petition of complaint.

            O.p. had entered their appearance in this case by filing w/v and denied all the material allegations labeled against them and prayed for dismissal of the case. Ld. lawyer of o.p. in the course of argument submitted that the case has got no merit and the same is liable to be dismissed.

Decision with reasons:

            In the premises as aforesaid and as perusal of the entire materials on record we find that the complainant has not complied with the terms and conditions as has been annexed by the complainant as annexure A(1) with the petition of the complainant which have duly been signed by both of the parties.

            In appears that the complainant has violated the terms and conditions in respect of the loan as has been duly signed by both of the parties.

            Under such circumstances, we hold that o.p. has not make any deficiency as a service provider to the complainant.

            Hence

                        Ordered

            The complaint petition is rejected on contest.