ICICI BANK LTD. Vs. R.S. MURUGESAN

JUDGEMENT

(1.) THE opposite parties in O.P. No. 51/2003 on the file of the District Consumer Disputes Redressal Forum, Tiruvarur are the appellants herein. The case of the complainant was as follows: Based on the advertisement which appeared in "The Hindu" regarding grant of personal loan to medical practitioners at confessional rate of interest viz., 10.5% for Rs. 10 lakh, the representatives of the opposite parties viz., Mr. Rajkumar and Mr. Bharathi approached the complainant. Based on the assurance given by them the complainant availed a personal loan of Rs. 5 lakh on 30.12.2002. Subsequently in February 2003 the complainant received a communication dated 13.2.2003 from the opposite parties revising the rate of interest from 10.5% to 20%. The complainant objected to this demand. There was no response from the opposite parties, necessitating the filing of the complaint.

(2.) THE 1st opposite party was set ex parte. The 2nd opposite party claimed that the loan was not disbursed by them and the complainant was not entitled to any relief that the District Forum had no jurisdiction that the transaction was a loan transaction that there was no deficiency in service and that, therefore, the complaint was liable to be dismissed.

(3.) BEFORE the District Forum on the side of the complainant, Exs. A1 to A10 were marked while no document was produced on the side of the opposite parties.