MAGMA FINCORP LTD. Vs. GULZAR ALI

JUDGEMENT

(1.) In a case decided by this Commission, reported in "Instalment Supply Ltd., Vs. Kangra Ex-Serviceman Transport Co. & Anr., 2007 1 CPJ 34",(NC), the first two lines start as under :-

(2.) The facts germane to the present case are somewhat similar to the above cited case. Sh. Gulzar Ali, the complainant in the present case, purchased a vehicle, make Scorpio. He paid a sum of Rs.2,05,626/- as margin money and got the financial assistance for the remaining amount of Rs.5,00,000/-, from the Magma Srachi Finance Ltd, OP1 and its Head Office was also arrayed as OP2 in this case. The above said loan amount was to be paid in 48 equal monthly instalments @ Rs.13,375/-, w.e.f. 15.06.2006. The complainant paid instalments upto 04.02.2009. It is alleged that the vehicle in question was forcibly possessed by the muscle men of the OPs on the ground that the complainant had made default in the payment of instalments and a sum of Rs.2,99,611/- was due against the complainant as on 14.11.2008.

(3.) However, the case of the complainant is that he had paid the entire instalments but the OPs did not issue the receipts. He filed a complaint before the District Forum seeking directions against the OPs to release, handover the above said vehicle, to pay a sum of Rs.1,00,000/- as compensation for mental agony/physical torture and to issue receipt of Rs.26,000/- to the complainant, with respect to the amount which was received by the OP1, in the first week of December, 2000, from the complainant through one, Mr. Rakesh Gupta, its agent.