PARKMEN POLYMERS INDUSTRIES Vs. BANK OF BARODA

JUDGEMENT

(1.) M/s. Parkmen Polymers Industries/Complainant before the Maharashtra State Consumer Disputes Redressal Commission in CC No.177 of 1994, has filed this Appeal against dismissal of the Complaint by the impugned order of 10.12.2007. It was filed on 29.2.2008, with delay of which is computed by the Registry as 45 days. As no application has been filed on behalf of the Appellant explaining this delay, it is not possible for us to determine whether there could be any acceptable explanation for it. Considering that the law provides only 30 days to the Appellant for filing of the Appeal, we are of the view that the Appeal is liable to be dismissed on the ground of limitation alone.

(2.) Coming to merits, the case of the appellant/complainant was that as a Small Scale manufacturing unit, it had taken two term loans from OP-1/Bank of Baroda; one of Rs.8.27 lakh for Plant & Machinery and the other of Rs.12.83 lakh for Land & Building. Both were sanctioned on 22.7.1991. Disbursal was commenced in August and completed in December 1991. OP-4/SIDBI sanctioned refinance to the extent of Rs 16.11 Lakhs on 30.9.1991.

(3.) Allegedly, the Complainant learnt in December, 1992 that it was being charged very high rate of interest on the two term loans. Several letters were therefore addressed to OP-1/BOB from 15.12.1992, till 4.3.1993 when the OP/Bank informed in a letter that its case for lowering the interest rate from 19.5% to 14% had been taken up with the higher ups. However, when no relief came from OP-1, the matter was taken up with OP-4/SIDBI. In this behalf, it is stated in para 12 of the Complaint that