SHANTILATA DAS Vs. ICICI BANK LTD

JUDGEMENT

(1.) Revision petition no. 3544 of 2013 has been filed under section 21 (b) of the Consumer Protection Act, 1986 against the order dated 16.01.2012 of the Odisha State Consumer Disputes Redressal Commission, Cuttack ('the State Commission') in First Appeal no. 590 of 2009.

(2.) The facts asgleaned from the order of the District Consumer Disputes Redressal Forum, Khurda, Bhubneshwar ('the District Forum'), are that the petitioner was the legal attorney of Shri Sangram Keshari Das. Shri Das had purchased a car (Travera) bearing registration no. OR 02 AD1710 to maintain his livelihood for a sum of Rs.6,80,850/- availing finance of Rs.5,47,000/- from the respondent the Bank. The same had to be repaid in 60 EMIs at the rate of Rs.10,725/-. The loan amount was being repaid regularly and the loanee could not pay the three EMIs from 01.12.2006 to 01.02.2007. The loan was to be liquidated by 01.10.2009. On 07.02.2007. A demand was made by the Bank that a sum of Rs.33,525/- was due to be paid towards the loan amount. The petitioner wanted to deposit this amount but it was not accepted by the Bank. In the meantime, the vehicle was repossessed by the Bank on account of outstanding dues payable by the petitioner and the hypothecation agreement was also terminated. The repossession of the vehicle was made unlawfully by the help of muscle men without prior notice, hence, the petitioner was entitled to get compensation. It was further stated in the complaint that the loanee had made the down payment of Rs.1,20,000/- at the time of taking the loan and paid 14 EMIs from 01.11.2004 to 01.12.2005 at the rate of Rs.10,725/-. Then the Bank voluntarily granted top up loan of Rs.60,000/- and the entire loan was fixed to be paid in 10 EMIs at Rs.11,175/- each. Thus after repayment of the loan, the seizure of the vehicle having been made and the case has been filed.

(3.) The case of the Bank according to their written version is that the Bank released the loan amount of Rs.5,13,500/- with the agreement to repay the same at the rate of Rs.11,175/- in 60 EMIs. The petitioner was defaulter of Rs.44,700/- till 01.02.2007 i.e., four instalments. Hence, the vehicle was repossessed rightly and subsequently it was sold by the Bank to realise the loan dues.