SPECIAL OFFICER, UTHAMAPALAYAM CO-OPERATIVE, UTHAMAPALAYAM Vs. A.GUNASEKARAN
LAWS(TNCDRC)-2008-10-13
TAMIL NADU STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on October 20,2008

Appellant
VERSUS
Respondents

JUDGEMENT

- (1.) The Appellant is the opposite party and the Respondent is the complainant before the District Forum.
(2.) The complainant has approached the District Forum under the following circumstances: The complainant has availed two loans bearing Nos.5304 and 5403, Rs.6500/- and Rs.3660/- respectively, for which he has mortgaged the agricultural lands belonging to him. He has availed the said loan on 4.4.1975 and 22.7.1975. Due to the certain problems, he was not in a position to discharge the amounts due, resulting in property was brought into auction on 25.2.1993. As there was no bidder, the opposite party themselves took the property in auction for a sum of Rs.32000/-. Later on, the complainant discharged the entire loan amount and requested the opposite party to re-convey the properties. The opposite party has demanded the amount paid by the society in the auction along with the expenses incurred for the said auction. According to the complainant, even though the amounts were paid, the opposite party has refused to re-convey the property and returned the original documents. Hence, the complaint.
(3.) The opposite party resisted the claim by contending that as per the instructions of the Head Office the interest has to be charged at the rate of 17.5% for the entire amount of loan and the complainant has not paid the interest amount and accordingly re-conveyance was not effected.;


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