CITI BANK NA Vs. KAMLESH KUMARI NIRMAL

JUDGEMENT

(1.) THE short facts of the case are that the complainant on 24.1.2003 had taken a loan of Rs. 2,93,423 from the appellant OP, for purchase of a Hyundai Santro Car for an amount of Rs.3,81,394, to be paid along with interest in 60 equal monthly instalments of Rs. 6,645 commencing from 1.3.2003.

(2.) THE complainant paid 05 instalments regularly and failed to pay the stipulated instalments in August, September, October 2003. He paid the instalments due on 1st August, 2003 on 13.9.2003 and due on September 2003 on 13.11.2003.

(3.) THE case of the complainant is that it was agreed between the parties through OP No. 3 M/s. S.M. Enterprises an agent of OP, that by 20.11.2003, the complainant will pay off the over due instalments along with interest and cheque return charges. The OP Bank without waiting for the due date with the help of its recovery agents snatched and repossessed the car on 15.11.2003 and refused to return it despite that thereafter the complainant tried his best through OP No. 3 to pay the overdue instalments to the OP Bank.