MAGMA FINCORP LIMITED Vs. SUKHWINDER SINGH SON OF SURJIT SINGH
LAWS(PUNCDRC)-2010-12-2
PUNJAB STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on December 10,2010

MAGMA FINCORP LIMITED Appellant
VERSUS
Sukhwinder Singh Son Of Surjit Singh Respondents

JUDGEMENT

- (1.) M .A. for condonation of delay This appeal was filed with delay of 14 days. An application for condonation of delay has also been filed in which reasons have been given which caused the delay in filing the appeal. The application is supported by an affidavit. We have condoned the delay without issuing notice to the other party for the view we are taking in the main case. Main case
(2.) THE version of Sukhwinder Singh respondent was that he had purchased a new Maruti 800CC car bearing registration No.PB23C7017. It was financed by the appellants for an amount of Rs.1,50,000/ -. Thereafter, the respondent sold this Maruti car and purchased a new Maruti Zen car bearing registration No.PB23 -D -3614. It was also financed by the appellants for an amount of Rs.2,35,000/ -. After the respondent deposited all the instalments against both the loans, he applied for no due certificate but it was not issued by the appellants. Hence, the complaint.
(3.) IN the written reply filed by the appellants, it was admitted that the respondent had taken the loan of Rs.1,50,000/ - for the purchase of Maruti 800CC car and thereafter, he had taken another loan of Rs.2,35,000/ - for purchasing Maruti Zen Car. It was, however, pleaded that the instalments were not paid by the respondent as per the schedule. There was peak delay towards the first loan of 690 days and the average delay was 56.85 days. An amount of Rs.51,400/ - was still outstanding against the first loan. So far as the second loan was concerned, there was a peak delay of 216 days and the average delay was 35.67 days and a sum of Rs.39,529/ - was still outstanding against that loan. Hence, it was prayed that the no due certificate could not be issued by the appellants. Dismissal of the complaint was prayed.;


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