Punjab

Ludhiana

CC/20/246

Bal Krishan - Complainant(s)

Versus

L&T Housing Finance Limited - Opp.Party(s)

G.S.Maurya

02 Jun 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, LUDHIANA.

                                                Complaint No:246 dated 19.10.2020.                  

                                      Date of decision: 02.06.2023

Bal Krishan son of Shri Govardhan Ram resident of House No.3375, Street No.2, Hira Nagar, Transport Nagar, Ludhiana.                                                                                                                                 ..…Complainant

                                                Versus

1.L & T Housing Finance Ltd, SBI Building, Second Floor, Plot No.19, H.No.223/2, Rani Jhansi Road, Near Khalsa College for Women, Ludhiana, Punjab-141001 through its Manager.

2^nd Address: Regd Office at L&T House, NM Marg, Ballard Estate, Mumbai-400001 through its Manager.                                                                                                                                                                  …..Opposite parties 

Complaint under the Consumer Protection Act for deficiency in service and unfair trade practice.

QUORUM:

SH. SANJEEV BATRA, PRESIDENT

SH. JASWINDER SINGH, MEMBER

MS. MONIKA BHAGAT, MEMBER

 

COUNSEL FOR THE PARTIES:

For complainant            :         Sh. G.S.Maurya, Legal Aid Counsel.

For OPs                         :         Sh. Vyom Bansal, Advocate.                   ORDER

PER SANJEEV BATRA, PRESIDENT

 

1.                Shorn of unnecessary details, the case of the complainant is that he availed a housing loan from Bank of India, Dhandari Kalan Branch, Ludhiana. Lateron, the loan was taken over by Citi Financial which lateron merged with the OPs. The Citi Financial has paid Rs.1,20,000/- to Bank of India to clear the outstanding in that bank bearing loan account No.LUDHF04451540 and sanctioned the loan of Rs.3,45,000/- against loan account No.LUDHF04419411 to complainant as housing loan. Thus, the total loan amount was Rs.4,65,000/- and installments fixed by the OPs were regularly paid by the complainant. After some time, request was made by the complainant to the OPs for foreclosure of the account bearing No.LUDHF04419411 linked with LAN(s):LUDHF04451540. The OPs agreed for foreclosure of the account for a total sum of Rs.2,83,009.12P and also annexed a letter for Rs.124.44 per day for 11 days pertaining to interest which comes to Rs.1370/-. Thus, the total foreclosure amount was fixed as Rs.2,86,380/- which was deposited by the complainant on 27.12.2016 vide receipt No.D27121622186 along with total amount of EMIs of loan amounting to Rs.1,20,000/- which was ended in November, 2019. Despite clearing all the dues of the OPs, they failed to release the original documents i.e. title deed of the property despite repeated demands made by the complainant and despite issuance of legal notice dated 12.02.2020 to the OPs. Such act and conduct of OPs is claimed to be deficiency in service and unfair trade practice on their part. In the end, the complainant has made a prayer to direct the OPs to release the original title documents along with Rs.1 lac as compensation on account of mental tension, agony and financial loss suffered by the complainant.

2.                Upon notice of the complaint, opposite party no.1 and 2 appeared and filed written statement wherein it has been submitted that the answering OP is a company registered under the Companies Act, 1956 and is a Housing Finance Company under National Housing Company Act, 1987. The complainant approached the answering OPs which has acquired certain financial assets with all underlying securities, interest etc from “Citi Financial Consumer Finance India Limited”. The complainant had availed a housing loan of Rs.1,20,000/- and a loan against property for Rs.3,45,544.81P vide LAN 4419411 & 4451540 respectively and the existing loan was taken over from the said bank. The complainant along with co-applicant Mr.Kesu Ram executed all the necessary loan and security documents for due repayment and mortgaged the land owned by complainant. The terms of sanction were accepted by the complainant vide letter dated 28.10.2004 and still as per the account statement for the loan account of the complainant, the due repayment has not been made and the outstanding still subsists and amount as detailed therein needs to be paid for closure of the loan accounts. The complainant is trying to avoid his due repayment while having recourse to this Hon’ble Commission and taking the undue benefit of beneficial legislation.

                   On merits, opposite party reiterated the crux of averments made in the preliminary objections. It has further been alleged that the sole intention of the complainant is to harass the answering OP by instituting such false and frivolous claims.  The original documents of the complainant qua his property shall be released after full re-payment of the dues of the answering OP. Opposite party denied any deficiency in service on its part and in the end, prayed for dismissal of the complaint with costs.

3.                In support of his claim, the complainant tendered his affidavit Ex.CA in which he reiterated the allegations and the claim of compensation as stated in the complaint. The complainant also tendered documents i.e. Ex.A1 is the statement of account, Ex.A2 to Ex.A4 and Ex.A7 are copies of customer copy receipts qua the amount collected by the OPs, Ex.A5 is the copy of account repayment statement, Ex.A6, Ex.A8 is copy of Aadhar Card of complainant, Ex.A9 is copy of letter of foreclosure, Ex.A10 is the copy of legal notice dated 12.02.2020 issued by the complainant to the Op, Ex.A11 and Ex.A12 are the copies of postal receipts and closed the evidence.

4.                On the other hand, counsel for the opposite party tendered in evidence affidavit Ex.RA of Sh.Arun Kumar, Authorized Officer of OP along with documents Ex. R1 i.e.copy of loan application, Ex.R2 is copy of home loan agreement, Ex.R3 is copy of statement of accounts/loan account summary, Ex.R4 is copy of letter of foreclosure and closed the evidence.

5.                Thereafter, case was fixed for settlement between the parties some dates but the same has not been effected between the parties. However, during the course of addressing arguments on 25.05.2023, the complainant got recorded his statement to the effect that he is ready to pay a lumpsum amount of Rs.70,000/- towards outstanding in the loan account No.LUDHF04451540 maximum by 15^th July 2023 to L & T Housing Finance Ltd towards the full and final settlement of the loan outstanding. Further, he has received original NOC for the other linked account No.LUDHF04419411 from the OPs.

6.                Pursuant to the aforesaid offer given by the complainant, today Sh.Vyom Bansal, Advocate for the OPs has also got recorded his statement to the effect that he has been authorized by the company to make statement in this case. The company has accepted the offer made by the complainant in his statement dated 25.05.2023 and the company is ready and willing to settle the loan account No.LUDHF04451540 for a lumpsum of Rs.70,000/- payable maximum by 15 July 2023. The NOC for aforesaid account shall be issued after payment of the said amount and sale deed mortgaged will also be released. Both the parties prayed that the complaint may kindly be disposed of accordingly.

7.                 In view of the abovesaid recorded statement of the parties, the present complaint stands disposed of with the direction to the complainant to pay a sum of Rs.70,000/- towards the outstanding in the loan account No.LUDHF04451540 maximum by 15^th July 2023 to the OPs towards the full and final settlement of the loan outstanding. After receiving the aforesaid amount by the OPs from the complainant, they shall be liable to issue the NOC and to release the sale deed along with other documents kept as security for collateral purpose to the complainant within 15 days from the date of receiving the entire loan amount from the complainant. Copies of this order be supplied to the parties free of costs. File be indexed and consigned to record room.

(Monika Bhagat)          (Jaswinder Singh)                      (Sanjeev Batra)                          Member                            Member                                       President         

Announced in Open Commission.

Dated:02.06.2023

Gurpreet Sharma