PUSHPLATA SAHU Vs. BHOPAL MOTORS PVT LTD

JUDGEMENT

(1.) BOTH these Appeals No. 124/2003 by complainant Mrs. Pushpalata Sahu and the other No. 136/2003 by opposite party M/s. Bhopal Motors Limited, arise from the order dated 23.12.2002 by the District Consumer Disputes Redressal Forum, Bhopal in Case No. 234/1998, directing opposite party -financier to refund the amount of security Rs. 1,05,774/ - with interest and also give him rebate of Rs. 31,732/ - towards prompt repayment of loan. Further a sum of Rs. 25,000/ - has been directed to be paid by the opposite party to the complainant by way of general damages besides Rs. 1,000/ - as costs of litigation.

(2.) FOR the sake of convenience we shall refer parties as complainant and opposite party in this order.

(3.) IT is no more in dispute that the complainant had in October, 1994 purchased a Mahindra Jeep after availing loan of Rs. 2,64,433/ - from opposite party. Parties had entered into a hire purchase agreement whereunder the loan was repayable in 35 monthly instalments of Rs. 10,276/ - each except that the first instalment was of Rs. 10,276/ - only. The complainant on the very date of agreement handed over 35 post -dated cheques for payment of said instalments to the opposite party -financier. The complainant had also deposited a sum of Rs. 1,05,774/ - by way of security with the opposite party and it was agreed that on repayment of loan without any default, the said security deposit shall be refunded with interest to the complainant. It was also agreed that on complainant making regular payments of instalments of loan, he shall be entitled to a credit of Rs. 31,372/ - by way of prompt payment rebate.