BIRABHADRA SAHOO Vs. MANAGING DIRECTOR SHRIRAM CITY UNION FINANCE LTD
ORISSA STATE CONSUMER DISPUTE REDRESSAL COMMISSION
Managing Director Shriram City Union Finance Ltd
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(1.) THE complainant's case, in brief, is that he requested the opposite parties to finance for purpose of the chassis of a Tata truck as he had no sufficient money to purchase the same. There is an agreement between the complainant and opposite parties as per terms and conditions of the Finance Company. A sum of Rs.4,23,700/ - was paid by the opposite parties (financier) and a sum of Rs.75,405/ - was paid by the complainant as margin money of the loan amount. It was also agreed between the parties that the complainant would pay the total amount of Rs.6,32,010/ - as against the loan amount of Rs.4,23,700/ - to the opposite parties in 36 instalments from 29.8.1997 to 29.7.2000.
(2.) THE complainant deposited a sum of Rs.75,405/ - on 29.7.1997 as margin money, Rs.500/ - as charges towards demand draft, Rs.3,000/ - as documentation charges, Rs.5,500/ - as service charge and Rs.12,343/ - as insurance amount respectively, before the opposite party No.3.
(3.) ON 25.8.1997 the complainant registered his truck and registration No. is OR -09a/3271 as per the Registering Authority, Keonjhar. On 29.2.2000 the opposite party No.3 seized the truck of the complainant at Rourkela while the truck was running with some goods without issuing any seizure list to the driver of the truck.
The complainant had taken a loan of Rs.4,23,700/ - from the opposite parties with a condition that he has to pay a sum of Rs.6,32,010/ -. The complainant has deposited a sum of Rs.3,63,000/ - before opposite party No.3 as on 29.2.2000. But the opposite parties, it is alleged, without issuing any notice of default or giving any opportunity to repay the defaulted amount, seized the truck of the complainant.;
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