MANAGER, CENTURIAN BANK LTD AND ORS Vs. BAIJU K, BAIJU MANDIRAM
LAWS(KERCDRC)-2010-12-4
KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on December 15,2010

Manager, Centurian Bank Ltd And Ors Appellant
VERSUS
Baiju K, Baiju Mandiram Respondents

JUDGEMENT

- (1.) APPELLANTS are the first opposite parties/ Financiers in O. P. 492/2004 in the file of CDRF, Kollam. The appellants are under orders to refund Rs. 8,022/ - ie. the amount remitted by installments and the margin money of Rs. 14,218/ - with interest at 9% from the date of order and also to pay Rs. 20,000/ - as punitive damages.
(2.) THE facts on the case is that the complainant availed a loan of Rs. 34,200/ - for the purchase of Bajaj Pulser motorcycle. As per the loan agreement the amount has to be repaid @ Rs. 1,337/ - in 36 installments. The complainant defaulted 3 installments and the opposite party forcibly seized the vehicle on 27.11.2004. The opposite parties issued notice directing to remit the full loan amount in balance ie. 29,860/ - Although the complainant approached the opposite parties to remit the due installments the opposite parties were not willing.
(3.) ACCORDING to the opposite parties it is after issuing notice that the vehicle was sold. According to them, the Hire Purchase Agreement contained specific provision enabling the opposite party to seize the vehicle. According to them there is no deficiency of service on their part. The evidence consisted the testimony of Pw1, and Exts. P1 to P6. It is the contention of the counsel for the appellant with the law at the time enabled the opposite party to seize the vehicle and sell it. The counsel has relied on the decision in Charanjit Singh Chadha Vs. Sudhir Mehra, 2001 AIR(SC) 3721 and the decision of the High court of Kerala in Sadasivan Vs. Indurstial Credit and Syndicate Ltd.,2002 KerLT 35.;


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