The respondent-complainant purchased truck-bearing no. HP 23-A-7786, which was financed by the petitioner to the tune of Rs.6,40,000/-. The said amount was repayable in 36 equated installments of Rs.20,178/-. The truck was repossessed on 3rd of May, 2005 on the ground that one installment of Rs.20,178/- was not paid by the respondent-complainant whereas according to the respondent-complainant he had already deposited the said installment with the petitioner, which the petitioner had failed to take into consideration. Aggrieved by this, respondent filed a complaint before the District Forum, which was allowed and a direction was issued to the opposite parties, including -2- the petitioner, to jointly and severally restore the possession of the truck to the respondent-complainant within ten days and to pay Rs.10,000/- per month w.e.f. 3rd of May, 2005 till delivery of the truck as well as Rs.2000/- as costs. The petitioner, being aggrieved, filed an appeal before the State Commission, which has been dismissed by the impugned order. The petitioner had taken the possession of the truck on ‘supurdari’ from the Judicial Magistrate, Ghumarwin on 27th of May, 2005. The truck is in possession of the petitioner since then. On our direction, the petitioner moved an application for release of the truck in favour of the respondent-complainant, which is still pending for consideration before the Judicial Magistrate. However, in the meantime, a settlement has been arrived at between the parties. Learned counsel for the petitioner after taking instructions from the petitioner, who is present in Court, states that the petitioner shall pay a sum of Rs.7,00,000/- to the respondent-complainant in full and final settlement of the dispute between the parties, provided the truck which was financed by the petitioner is allowed to be retained by him. Learned counsel for the respondent-complainant on instructions states that the respondent is prepared to accept the sum of Rs.7,00,000/- in full and final settlement of the dispute and he will have no objection to the retaining of the truck by the petitioner. In terms of the settlement arrived at, petitioner is directed to pay a sum of Rs.7,00,000/- to the respondent-complainant in full and final settlement of the dispute between the parties, upon which the petitioner shall be entitled to retain the possession of the truck and deal with it in any manner he likes. In pursuance -3- to the order passed by this Commission on 19th of April, 2010, the petitioner has deposited a sum of Rs.3,00,000/- with the District Forum. District Forum is directed to release the sum of Rs.3,00,000/- alongwith accrued interest, if any, to the respondent-complainant in part satisfaction of the decree. Petitioner undertakes to pay the remaining sum of Rs.4,00,000/- to the respondent-complainant within one month from today. After the payment of Rs.7,00,000/- in above terms, the possession and ownership of the truck shall vest in the petitioner and the respondent-complainant will not have any possessory or ownership title, over the truck. Learned counsel appearing for the parties state that they shall withdraw all the pending litigations against each other in connection with the dispute. Revision petition is disposed of in above terms and the orders of fora below stand modified in terms of the order passed.
......................JASHOK BHANPRESIDENT
......................VINEETA RAIMEMBER | |
