Order No. 3  dt. 19/03/2019

                Ld. Lawyer for the complainant is present and submits that the complainant took loan from the o.p bank. to the tune of Rs.3.0 Lakh and in respect of the payment of the amount the o.p. has charged Rs.6.0 Lakh up to the month of November,2019. The complainant sought for clarification regarding the claim made by the o.p. bank towards due amount as claimed by the o.p. The complainant on the basis of the said fact filed this case making allegation against the o.p. and also prayed for compensation of Rs.8.0 Lakh for deficiency in service.

                On perusal of the record we find that the complainant has claimed that there was fixed rate of interest towards the loan obtained by the complainant but the documents filed by the complainant categorically stated that the rate of interest charged on the complainant was floating. The complainant was informed by the bank vide letter dated 8^th January,2019 regarding the  revision of rate of interest in respect of the Loan Account LBCALXXXX4051, whereby it was categorically stated that the o.p. bank provided floating rate of interest charged and it was mentioned that it was increased by 0.10% per annum with effect from 21^st November,2018 and it was categorically stated that the rate of interest of the said loan has been revised to 15.20% per annum. The complainant was also given an opportunity to avail the effect of bank market rate revision on the EMI amount then the borrower was requested to visit the nearest ICICI bank Asset Serving Branch within 30 days from the date of receipt of this letter. The complainant also filed another document wherefrom it appears that the complainant was provided an option to switch from existing system of prime lending rate to 1-MCLR-1Y system without changing effective rate of interest. The complainant did not response to such intimation provided by the bank. Whenever the bank has claimed the amount by sending an intimation to the complainant dated 27^th November,2019 demanding outstanding amount and also gave a Statement of Accounts, whereby the floating rate of interest was mentioned, the complainant rushed to this Forum making false allegation against the bank that the bank has charged exorbitant rate of interest. The case filed by the complainant is a manufactured one thereby we hold that there is no prima facie case to issue notice against the o.p. bank. Accordingly, it is hereby held that the case filed by the complainant is not maintainable and dismissed in limini.