RAM KARAN SINGH Vs. INDUSID BANK LIMITED

JUDGEMENT

(1.) COMPLAINT is being taken up at admission stage.

(2.) COMPLAINANT purchased a vehicle from OP No. 2 for a sum of Rs. 16,00,000 for which a loan of Rs. 13,00,000 was taken from OP No. 1. The complainant made payment of total sum of Rs. 4,16,000. The amount of loan was to be repaid in 47 EMIs of Rs. 32,000. On default of making payment of few instalments, the OP forcibly took possession of the vehicle, feeling aggrieved the complainant has filed this complaint under Section 12 of the Consumer Protection Act, 1986 , seeking compensation of Rs13,80,000 with interest @ 24$ p.a. and in the alternative payment of Rs. 12,00,000 towards cost of the vehicle.

(3.) ON the face of it the amount of compensation sought or the relief falls within the pecuniary jurisdiction of the District Forum. Where there is no term of the contract as to the liability of the OP to pay interest at a particular stage, the interest does not form component of compensation as the question as to whether the complainant is entitled for interest or not and if so at what rate and for what period, is always subject of adjudication.