MUTHOOT FINANCE LTD. Vs. G.N. SADANANDA SWAMY

JUDGEMENT

(1.) THE above appeal is preferred challenging the order dated 17.8.2012 passed in Consumer Complaint No. 1466/2012 on the file of I Additional District Consumer Disputes Redressal Forum, Seshadripuram, Bangalore. For the sake of convenience the parties herein are referred to by their respective rank as arrayed before the District Forum.

(2.) ON 17.7.2012 the complainant addressed a letter to the said Forum for registering the complaint, alleging that he availed personal loan by pledging the golden ornaments with the OP on several occasions and accordingly on 18.12.2010 he availed a loan of Rs. 4,75,000 by pledging 286.400 grams of gold as per loan token No. 1338 and till 16.7.2012 OP collected Rs. 2,69,369 towards interest likewise another loan availed by him on 10.3.2011 for Rs. 4,83,300 by pledging gold ornaments of 289.400 gms he paid Rs. 2,15,716 as interest till 16.7.2012. Further it is alleged by the complainant that on 17.7.2012 he demanded the OP to furnish the details of the interest collected from him but, the same was not furnished. In the circumstances, he sought DF to direct the OP to refund excess amount of interest received by it.

(3.) FURTHER it is pleaded that OP also issued periodical notices to the complainant, besides had also informed the complainant over phone to redeem the pledged ornaments as early as possible. Further it is pleaded that complainant has not made out any case against the OP and hence there is no deficiency of service and seeks dismissal of the complaint.