KOTAK MAHINDRA PRIME LTD Vs. SMITA KARMAKAR

JUDGEMENT

(1.) Mrs. Smita Pradeep Karmarkar, the complainant in this case, obtained a loan in the sum of Rs.5,11,000/- from M/s Kotak Mahindra Prime Ltd, OP, vide agreement dated 25.1.2008. She paid the instalments regularly. The complainant wanted to sell the said vehicle and, therefore, requested the opponent to issue NOC. The OP refused to issue NOC on the ground that she had not paid the entire loan.

(2.) Grievance of the complainant is that the OP has not furnished the details of outstanding loan amount. It is interesting to note that she, however, admitted that she had also taken personal loan from OP for paying the loan amount taken for purchasing the vehicle. The loan taken by the complainant stands already paid. Consequently, she filed the instant complaint with the prayer that the OP be directed to give NOC in respect of the vehicle. It was also prayed that OP be directed not to take the possession of the vehicle.

(3.) The OP contended that they will proceed as per the terms of the agreement legally against the complainant on 26.6.2009. The complainant also agreed to pay the amount as per law but declined to appear before the Arbitrator.