M. THANIKACHALAM J. - (1.) The appellants are the opposite parties before the District Forum in C.C.No.84/2005.
(2.) The respondent herein, as complainant, had purchased a Hero Honda Splendor, Motorcycle, after obtaining financial assistance from the opposite parties/ appellants, by executing Hire Purchase Agreement on 7.8.2001. Out of the total cost of the bike of Rs.43,356/-, the loan was obtained only to the extent of Rs.20000/-, and the balance was paid by the complainant. As per the hypothecation agreement, the complainant has to pay a total sum of Rs.27,800/- in equal monthly instalments, for 24 months @ Rs.1108/-, commencing from 7.8.2001.
(3.) The complainant has paid so far a total sum of Rs.29,250/-, though he is liable to pay only a sum of Rs.27,800/-. Despite the fact that the entire loan amount was discharged, the opposite party has retained the bank cheques, given as security and also failed to issue No objection Certificate, though they returned the original RC book. The non-return of the bank cheques, and non-issue of No objection Certificate, though entire amount has been discharged, would amount to deficiency in service, for which the opposite party should be held responsible, since they failed to comply the demands, despite request and notice. Thus a claim came to be filed for the direction, to return five signed bank cheques, and issue of No objection certificate, in respect of motor cycle bearing No.TN 74 Y 6081, and to pay a sum of Rs.1,00,000/- as compensation.;