INDUSIND BANK LIMITED Vs. SIMARJIT SINGH

JUDGEMENT

(1.) In July 2006, the respondent-complainant, Simarjit Singh had availed a loan of Rs. 13,50,000/- from the appellant, IndusInd Bank Limited for financing a truck. The loan was repayable in equal monthly instalments of Rs. 35,150/-. The respondent committed default in payment of three instalments due in October 2007, November 2007 and February 2008. Consequently, the Bank had issued demand notice dated 12th March 2008 for payment of Rs. 1,39,335/-. Thereupon, it is accepted, the respondent had paid Rs. 1,04,200/- on 24th March 2008, Rs. 35,150/- on 6th May 2008 and Rs. 36,000/- on 31st May 2008. Accordingly, Rs. 8,19,300/- was paid by 31st May 2008, while as per the instalment schedule, the respondent was required to pay only Rs. 8,08,000/- up to June 2008.

(2.) Despite the respondent not being in arrears, the truck of the respondent with loaded cargo of timber, going from Gandhi Dham, Gujarat to Srinagar was stopped near village Bhasaur by about 10- 12 persons on 3rd July 2008. They then forcibly took physical possession of the truck and the timber.

(3.) Thereupon, the respondent preferred Consumer Complaint No. 344 of 2008 alleging deficiency in service before the District Consumer Disputes Redressal Forum, Sangrur, which was dismissed vide order dated 04th December 2008. Thereafter, Appeal No. 11 of 2009 before the State Consumer Disputes Redressal Commission, Punjab,Hereinafter referred to as 'SCDRC'. was treated/converted into original complaint bearing Special Consumer Complaint No. 344 of 2008, which complaint was allowed vide order dated 26th October 2018, with the following directions: