TIRATHRAM Vs. DENA BANK

JUDGEMENT

(1.) This appeal, under Sec.15 of the Consumer Protection Act, 1986 , is directed against the order dated 3.1.2003 in Complaint No.316/2000 by the District Consumer Disputes Redressal Forum, Durg (hereinafter called the 'district Forum' for short) dismissing the complaint of the appellant.

(2.) Undisputably the complainant/appellant obtained a loan for purchase of a motor pump for an amount of Rs.21,000/- to be installed in his agricultural field. He executed certain documents including deed of hypothecation of the standing crops, promissory note etc.

(3.) The complainant in substance raised a grievance in his complaint that though the appellant paid a much larger amount than was stipulated between the parties, yet the said amount was not adjusted from the loan obtained by him, and more amount is being asked by the respondent. It was averred that the rate of interest and the mode of calculation thereof adopted by the respondent Bank, is not proper and not in accordance with the agreement. The complainant/appellant, therefore, claimed that the excess amount of Rs.21,245.60 paid by him be directed to be refunded, with interest thereon.