M.THANIKACHALAM J. - (1.) The opposite party in CC.88/2005 on the file of the District Consumer Disputes Redressal Forum, Cuddalore, who suffered an adverse order, challenges the same in this appeal.
(2.) The respondent in this appeal as the complainant, in order to purchase a milch cow, applied loan, paying necessary initial amount and other expenses, totaling a sum of Rs.2,530/- on 11.03.2004. To secure the loan amount, he had also executed a mortgage deed, in respect of his immovable property, by spending a sum of Rs.10,145/- The opposite party, having obtained the loan application as well the registered mortgage deed, despite number of requests and notice, failed to pay the loan amount or disburse the loan amount, thereby, they have committed not only negligent act, but also deficiency in service, resulting mental agony and other sufferings. Hence, a direction should be issued against the opposite party to pay the loan amount, failing which, they should be directed to pay the expenses incurred namely Rs.10,145/-, in addition to, compensation of Rs.50,000/-.
(3.) The opposite party admitting the application of loan as well as the permission granted or sanctioned, for a sum of Rs.43,600/-, opposed the complaint, on the grounds, that as per the direction of the Tamil Nadu Cooperative Agricultural Development Bank in respect of loan, payable for the year 2003-2004, should be completed on or before 15.3.2004, that though the same was informed to the complainant, requesting him to produce the necessary documents, including the registration of the mortgage deed on or before 15.34.2004, which he failed, whereas, he handed over the documents only 22.3.2004, that for the non-disbursement of the loan, the complainant alone has to be blamed, that because of the financial crisis, it is not possible for the opposite party to pay/disburse the loan amount and if at all, in future, on priority basis, if at all, loan should be granted, that since the opposite party has not committed any negligence or deficiency, they are not liable to pay any amount, thereby praying for the dismissal of the complaint.;