K.JAYALAXMI Vs. SHRIRAM INVESTMENT PVT.,LTD

JUDGEMENT

(1.) The unsuccessful complainant is the appellant. She has filed another appeal in F.A.No.237 of 2009 against the respondents herein and an insurance company. In view of the similarity of the circumstances obtained in both cases and the identical facts, both appeals are disposed of by common order.

(2.) The appellant has been doing transport business on hire basis. The appellant purchased power trailer bearing registration number OR 07 K 4905 under hire purchase agreement with the first respondent finance company, in the month of November, 2004. The loan amount is payable with interest in 55 equated monthly installments @ Rs. 29,450/- per installment commencing from the month of January, 2005. The appellant paid all but four installments. The first respondent company repossessed the vehicle on 17-07-2006.

(3.) The appellant's case is that she expressed her readiness to pay three installments due and the first respondent demanded an amount of Rs. 2,68,950/- towards the amount due and attempted to sell the vehicle to third parties.