SHRIRAM INVESTMENTS LTD. ADMINISTRATIVE OFFICE Vs. B.NAGARAJU

JUDGEMENT

(1.) This is an appeal preferred by opposite party No. 1 & 2 Shriram Investment Ltd., against the order of the Dist. Forum directing it pay Rs. 40,000/- together with costs of Rs. 2,000/-.

(2.) The case of the complainant in brief is that he is an employee in Singareni Colonies Ltd., and resident of Godavari Khani. The opposite party held camps at Karimnagar for expanding its business viz., financial services. The branch office at Khammam agreed to advance money for purchase of a tipper under hire purchase agreement, and accordingly advanced an amount of Rs. 7, 50,000/- on 8.6.2005 where under he was liable to repay the amount in 36 EMIs. Accordingly he paid Rs. 2, 65,603/- towards 14 instalments to the agent when he came for collection. Since he was busy with his office duties he intended to sell it away and repaid the entire loan. When he approached Op2 it had agreed to issue 'No Objection Certificate'. While cancelling the agreement it demanded Rs. 98,787/- towards loan amount and Rs. 11,057/- towards interest. Accordingly he paid the said amount. In fact it had collected an excess amount of Rs. 79,087/-. There upon he gave legal notice seeking for refund of amount. Therefore he sought for refund of excess amount of Rs. 79,087/- with interest @ 12% p.a., together with compensation of Rs. 10,000/- and costs.

(3.) The appellant's financier resisted the case. The transaction and the agreement are for commercial purpose. He had already sold away the vehicle to a third party. There was no consumer dispute to be settled. The complainant settled the account with it after satisfying himself with the amount due under the agreement. He did not mention as to the particulars of the amount paid as well as due. As per the accounts maintained by it the instalments amount is Rs. 5, 27,023/-. The insurance payable is Rs. 23,057/-, bank charges is Rs. 190/-, DC and SC is Rs. 5,500/-, over due compensation on delayed monthly instalments is Rs. 24,820/-, and penal charges is Rs. 15,810/- in all Rs. 9, 49,701/-. As against this complainant has paid Rs. 9, 15,947/-. In fact the complainant had to pay Rs. 17,007/- as on 3.8.2006. Without paying the said amount the complainant filed the complaint claiming that he had paid in excess. The offices of opposite parties are situated at Chennai and Khammam. Originally agreement was executed at Khammam where the entire transaction took place. The Dist. Forum at Karimnagar has no jurisdiction and therefore complaint is liable to be returned for presentation before proper forum or dismissed for want of jurisdiction.