ICICI BANK LIMITED Vs. ARUN MANADEVRAO GAWANDE

JUDGEMENT

(1.) This revision petition has been filed under sec. 21(b) of the Act 1986 in challenge to the Order dtd. 6/7/2017 of the State Commission in appeal no. 100 of 2016 arising out of the Order dtd. 3/10/2015 of the District Commission in complaint no. 39 of 2015.

(2.) Heard the learned counsel for the ICICI bank (the petitioner herein) and the authorised representative of the complainant (the respondent herein). Perused the material on record, including inter alia the District Commission's Order dtd. 3/10/2015, the State Commission's impugned Order dtd. 6/7/2017, the application for condonation of delay that was filed before the State Commission and the petition that has been filed before this Commission.

(3.) The dispute fundamentally relates to the rate of interest applicable on a home loan of Rs.3.60 lakh taken by the complainant from the bank. The District Commission vide its Order dtd. 3/10/2015 partly allowed the complaint and directed the bank to adjust an excess amount of Rs.78,126.00 recovered by it in the remaining loan amount of the complainant with interest at the rate of 8% per annum from 1/1/2013 till realisation. It also awarded Rs.10,000.00 as compensation and Rs.5,000.00 as cost. Pertinently, the District Commission passed its Order on contest, after considering the version offered by the bank.