LAWS(DELCDRC)-2005-3-4

CITICORP MARUTI FINANCE LIMITED Vs. VIJAYALAXMI

Decided On March 10, 2005
Citicorp Maruti Finance Limited Appellant
V/S
VIJAYALAXMI Respondents

JUDGEMENT

(1.) VIDE impugned order dated 22.12.2003 passed by the District Forum the appellant has been directed to pay Rs. 1,50,000/ - with interest @ 9% towards the price of the vehicle financed by the appellant on account of unfair trade practice and deficiency in service. Feeling aggrieved the appellant has directed this appeal.

(2.) FACTS giving rise to this appeal are in brief like this.

(3.) THE appellant is a finance company mainly engaged in the business of financing motor cars and other vehicles. The respondent obtained a loan of Rs. 1,82,396/ - in May, 2000 towards the purchase of Maruti Omni. The total loan including the interest came to be Rs. 2,71,636/ - which was payable in equal monthly instalment (EMI) of Rs. 4,604/ -. From May, 2000 to January, 2003 all the instalments were paid. However, in the month of April, 2003, the husband of the respondent met with an accident and payment of subsequent instalments was delayed. On the request of the respondent for one time settlement, the appellant vide letter dated 10.5.2003 asked the respondent to pay Rs. 60,000/ - towards full and final settlement within 15 days from 19.5.2003 or else the total outstanding dues of Rs. 1,26,564.84p. inclusive of interest would be payable.