IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Saturday the 30th day of December, 2017
Filed on 19.08.2016
Present
1. Smt. Elizabeth George, President
- Sri. Antony Xavier, Member
- Smt. Jasmine.D. (Member)
in
C.C.No.271/2016
between
Complainant:- Opposite Party:-
Smt. Haseena The Manager, Mahindra Rural Housing
W/o Abdul Shukoor Finance Ltd., 3rd Floor, Centre Point
Vellali Kizhakkethil Building, Near Post Office,
Kannampally Bhagom Kayamkulam
Kayamkulam
O R D E R
SRI. ANTONY XAVIER (MEMBER)
The complainant’s case precisely is as follows:-
The complainant on 5th December, 2012 availed a loan amount of Rs.2,50,000/- from the opposite party. The rate of interest charged was 13.5% per annum. As per the agreement entered into with the opposite party, the loan amount was to be paid off in 60 equal monthly installment amount of Rs.5,210/-. The complainant was paying the monthly installments without fail till December, 2015. Thereafter in January 2016, the complainant approached the opposite party, and expressed her willingness to pay of the entire balance amount in lump sum. Upon this the opposite party demanded Rs.2,65,000/-. When the complainant made enquiries as to arrival of the said amount, the opposite party impressed upon the complainant that the rate of interest is Rs.21.75%, and the tenure of loan is 142 months. The complainant sought statement of account from the opposite party which yielded no results. The complainant has paid off 37 installments. Still the opposite party demanded exorbitant amount. The opposite party committed unfair trade practice and the service of the party is deficient. The complainant got aggrieved on this, approached this Forum for compensation and relief.
2. Notice was served. However, the opposite party did not make it a point to turn up before the Forum and challenge the complainant’s case. With the result, the opposite party was set ex-parte.
3. The complainant’s evidence consists of the complainant’s proof affidavit, and the documents produced have been marked as Exts.A1 to A4. As observed earlier the opposite party neither turn up before this Forum nor did challenge the complainant’s case.
4. Bearing the complainant’s contentions in mind, the issues that come up for consideration are:-
1)Whether the complainant paid off 37 installments as claimed by her?
2)Whether the opposite party’s service is deficient?
3) Whether the complainant is entitled to any relief?
5. The complainant’s particular case is that the complainant availed a loan amount of Rs.2,50,000/- from the opposite party. The loan amount was to be paid off in sixty equal monthly installments of Rs.5,210/-. The complainant paid of thirty seven installments regularly without fail. In the mean time in January 2016, the complainant approached the opposite party, ad express he preparedness to clear off the entire balance twenty three installments in lump sum. The opposite party demanded Rs.2,65,000/-from the complainant. The opposite party impressed upon the complainant the rate of interest is 21.5%, and the period of repayment is 142 months. The complainant sought statement of account. But the opposite party was reluctant to issue the same. Notwithstanding the complainant’s repeated requests the opposite party did not pay heed to the same. Bearing the complainant’s contentions alive in mind, we anxiously perused the available materials placed on record. The documents produced by the complainant duly evidenced that the complainant has paid off 37 installments of the loan amount. When the complainant has approached the opposite party the opposite party sought exorbitant amount from the complainant. What is more the opposite party has been disinclined to issue the statement of account to the complainant. On a scrutiny of the entire material it is manifestly revealed that the complainant’s case is worthy of credence. Moreover, as we have already observed the opposite party was reluctant to turn up before this Forum or to challenge the complainant’s apparently probable case which has been more furthered by the proof affidavit and the other documents. We have no hesitation to hold that the complainant’s case stands well-substantiated. We need hardly say, the complainant is entitled to relief.
6. In the result, complaint allowed. The opposite party is directed to allow the complainant to allow the complainant to clear off the balance installments of the material loan amount in lump sum viz. 23 installments multiplied by equal monthly installment of Rs.5,210/-. The complainant is also directed to pay the opposite party directed to pay the opposite party a foreclosure charge of Rs.2,500/- (Rupees two thousand and five hundred only). In the event of the complainant clearing off the material loan, the opposite party shall hand back the entire documents to the complainant forthwith.
In the result, the complaint is allowed accordingly. No order as to cost or compensation. The order shall be complied within one month from the date of receipt of this order.
Pronounced in open Forum on this the 30th day of December, 2017.
Sd/-Sri.Antony Xavier (Member)
Sd/-Smt.Elizabeth George (President)
Sd/-Smt. Jasmine. D. (Member)
Appendix:-
Evidence of the complainant:-
Ext. A1 series - Receipts (23 Nos.)
Ext.A2 - Letter dated 3.5.201
Ext.A3 - Postal receipt
Ext.A4 - Delivery note
Evidence of the opposite party:- Nil
// True Copy //
By Order
Senior Superintendent
To
Complainant/Opposite parties/S.F.
Typed by:- br/-
Compared by:-
