DENA BANK NIGAMIT NIKAY Vs. MAHADEV LAL AGRAWAL

JUDGEMENT

(1.) This appeal, under Sec.15 of the Consumer Protection Act, 1986 , is directed against the order dated 24.8.2002 in Complaint No.145/2002 by the District Consumer Disputes Redressal Forum, Raipur (hereinafter called the 'distt. Forum' for short) directing the appellant Bank to refund to respondent No.1 Rs.50,000/- with interest thereon.

(2.) Undisputedly the borrower respondent No.2 Ramjeevan Agrawal obtained a loan from appellant Bank. Complainant/respondent No.1 Mahadev Lal Agrawal was the guarantor of respondent No.2 for the said loan. The respondent No.1 deposited by way of security his FDRs which were to mature during the year 1986-87. Since the loan amount was not paid by the borrower respondent No.2, the appellant Bank adjusted the maturity amount of said FDRs towards the loan amount.

(3.) It was averred by the complainant in his complaint that the truck of the respondent No.2 was hypothecated with the appellant Bank and the amount of loan should have been recovered by seizure and sale of the truck, before recovering the loan amount from guarantor respondent No.1, from the maturity amount of his FDRs.