SATISH KR. JAIN Vs. CITI BANK N.A.

JUDGEMENT

(1.) THE facts of the case are that on 30.5.2005 the complainant had taken a loan of Rs.3,10,000/ - from the OP Citi Bank payable in 48 EMIs of each of Rs.9106/ -. Since the complainant appellant failed to fulfill his promise, the bank reframed the payment plan; according to which the complainant was to pay a sum of Rs.90,000/ - in all and in turn the bank promised that post dated EMI cheques, which bank had obtained from him in advance, will not be presented for encashment and no dues certificate would be sent in due course. A cheque of Rs.80,000/ -, which was issued in favour of the bank towards the re -payment of the loan became dishonoured for the reason that bank encashed one of the EMI cheque of Rs.9106/ - due to which funds arranged for encashment of cheque of Rs.80,000/ - had become insufficient. Subsequently this dispute was settled between the parties and the bank assured the complainant to issue no due certificate with blank security cheques but failed, the complainant, therefore, filed a complainant before the District Consumer Forum with the prayer that OP Bank be directed to issue no due certificate and return blank cheques and pay the compensation of Rs. 1 lakh.

(2.) THE OP filed the written statement and opposed the claim of the complainant. The bank alleged that it had offered structure plan of Rs.90,000/ - for the re -payment of loan in two installments, out of which the first installment of Rs.10,000/ - was to be paid on or before 30.9.2007 and the second installment of Rs.80,000/ - on or before 20.10.2007.

(3.) WE have heard Shri Satish Kumar, Appellant in person at admission stage.