KOTAK MAHINDRA BANK LIMITED Vs. PARTHA PRATIM CHATTERJEE

JUDGEMENT

(1.) Revision petitioner/M/s. Kotak Mahindra Bank has challenged the order of West Bengal State Consumer Disputes Redressal Commission in FA No.223 of 2011. The State Commission has upheld the order of the Kolkata Consumer Disputes Redressal Forum, directing RP/OP to refund a sum of Rs.33,450/- to the respondent/Complainant. The order of the District Forum has been modified to the extent that the direction to pay compensation of Rs.5000/- has been set aside and the costs of Rs.2000/- awarded by the District Forum has been reduced to Rs.1000/. To this extent, the appeal of the RP/OP has been allowed partially by the State Commission. However, on the main issued of refund of Rs.33450/-, there is unanimity of view between the District Forum and the State Commission. Both have ordered its refund.

(2.) The matter arose out of loan of Rs.301205/- taken by the Complainant from the RP/OP Bank. It was to be paid in 36 instalments. After some default on repayment of the EMIs, the two parties negotiated the matter and research a settlement on 26.03.2009. Under the settlement, the complainant was required to pay Rs.140000/- in four instalments. As seen from the record, the agreed payment schedule was as follows:-

(3.) The case of the Complainant was that the first three instalments were paid on time. Third instalments was paid with an additional sum of Rs.8000/-. Thus, the balance payable by 30.06.2009 was Rs.50,000/-, which was paid as per the following details:-