M/S. SHRIRAM TRANSPORT FINANCE CO. LTD. Vs. JAYSINGH DAMODAR PATIL
M/S. Shriram Transport Finance Co. Ltd.
Jaysingh Damodar Patil
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Prem Narain, J. -
(1.) This revision petition has been filed by the petitioner M/s. Shriram Transport Finance Co. Ltd. against the order dated 10.02.2016 of the State Consumer Disputes Redressal Commission, Maharashtra (in short 'the State Commission') passed in Appeal No.A/15/249.
(2.) Brief facts of the case are that the complainant had purchased Tata Trailer for total cost of Rs.20,29,633/-. For the cost of the said vehicle complainant had paid an amount of Rs.4,54,521/- and for remaining amount of Rs.16,20,000/- he had obtained loan in the year 2008 from the Opposite Party's finance Company and had entered into Loan cum Hypothecation agreement. Loan was disbursed to the complainant. The Complainant was irregular in re-payments of EMIs & committed defaults in repayments in the year 2008 and 2009. Due to persisting defaults, the Opposite Party Company resorted to repossession of the Vehicle on 07.06.2009 and later, sold the vehicle by public auction for an amount of Rs.11,50,000/-. The complainant lodged complaint on 25.02.2011 claiming compensation for forcible repossession and Sale of Vehicle without due process of law. Complainant prays to direct OP to pay an amount of Rs.18,76,707/- and to return back 4 blank signed cheques on SBI which were taken by Opposite Party. District Forum vide its order dated 31.01.2015 held Opposite Party guilty of illegally taking repossession and sale of complainant's vehicle without following any lawful procedure. District Forum directed Opposite Party to pay the entire amount of Rs.4,54,521/- paid by complainant towards margin money & down payment together with interest of 8% and an amount of 4,05,000 paid towards loan to OP together with interest @ 8%; to pay 1 lakh towards physical & mental harassment, 1lakh for business loss & 5,000 towards litigation expenses. Further directed Opposite Party to return back 4 blank cheques of SBI taken from the complainant. Opposite Party filed an appeal wherein State Commission vide its order dated 10.02.2016 partly allowed the appeal and set aside the order of payment of 1lakh on account of business loss & reduced the awarded compensation for mental agony from Rs.1 lakh to 25,000/-.
(3.) Hence, revision petition has been filed by Opposite Party.;
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