C.K. Lekhamma.<br /> <br /> The case of the complainant is asfollows:-<br /> <br /> The complainant has availed a personal loan from the opposite party to the tune of Rs. 24,263/- and he has received Rs. 22,901/- after deducting processing charges of Rs. 1,213/- and service tax of Rs. 149/-. The period for repayment of said loan was 30 months. The complainant has already paid 11 instalments promptly . Subsequently he offered to close the said loan by paying the balance amount as lump sum. The opposite party has refused to accept the offer. Hence the complainant issued Ext. A1 advocate notice to the opposite party and was not accepted by the opposite party. The complainant is now before this Forum seeking direction to the opposite party for premature closing of the loan account. <br /> <br /> 2. The complainant was examined as PW1. Exts. A1 to A6 were marked. After closing the evidence complainant was heard. During the proceedings before this Forum opposite party remained absent. <br /> <br /> 3. The only point to be decided by us;<br /> i. Whether the complainant is entitled for a premature closing of the loan account or not?<br /> <br /> Ext. A2 was issued by the opposite party to the complainant, which would show that the complainant availed a loan of Rs. 24,263/- as per application No. A 818974. And also opposite party sent chequeNo. 120933 dated 6th December 2006 for an amount of Rs. 22,901/-. The said document would reveal that sum of Rs. 1213 and Rs. 149 were deducted from the principal amount by way of processing charges and service tax respectively. Ext. A3 is regarding the general conditions governing the loan transaction entered between them. Ext. A4 is the payment receipt of one instalment. Ext. A5 is the savings Bank pass book of the complainant with SBI Cherai Branch. Ext. A4 and A5 would show that he has satisfied the opposite party partially in paying first 11 instalments. <br /> 4.It is evident from the Ext. A2 to A5 that there was a loan transaction in between the complainant and opposite party. And out of the total of30 instalments, he has repaid a few number of instalments. After words he approached the opposite party directly for premature closing of the said loan account. When this request was rejected he sent Ext. A1 lawyer notice making the same demand and returning documents which were deposited in the bank as security. The said Notice was returned unserved. When notice was issued to opposite party from this Forum, he did not care to appear even though the same was received by him. The laches and negligence of the ;opposite party is evident from the above conduct. There is no wisper in Ext. A3 with regard to premature closing of the loan. In case opposite party had any objection to premature closing, he should have availed of the opportunity offered to him by us in rebutting the demand of the complainant. The silence of the opposite party is so eloquent and it tilt the balance in favour of the complainant as to Whether complainant is entitled for premature closing. So the only conclusion at present, we can reach is that the complainant is entitled for premature closing of the loan after repaying the balance amount in lump sum.<br /> <br /> 5.In conclusion, we allow the complaint and direct the opposite party to close the loan availed by the complainant as per application No. A818974 after receiving the remaining instalments as lump sum. The above said order shall be complied with within a period of one month from the date of receipt of copy of the order. <br />