STATE BANK OF INDIA Vs. SHOBA MOHAN

JUDGEMENT

(1.) Revision Petition No. 2205 of 2015 has been filed by the petitioner /opposite party against the order dated 24.4.2015, passed by West Bengal State Consumer Disputes Redressal Commission, Kolkata (short, "State Commission") in First Appeal No.349 of 2014.

(2.) The facts of the case as per the respondent/complainant are that on 23.11.2005 the she had applied for a Housing Loan to the O.P. Bank (petitioner herein) in order to purchase a flat being No. 4E, at 4th floor of a building situated at 135A, S. P. Mukherjee Road, Kolkata 700026 and the O.P/Petitioner sanctioned an amount of Rs.21,96,000/- towards the loan with an interest @ 7.75% p.a. on daily reducing balance at monthly rests subject to rescheduling of the interest at the end of every three years. It was also mentioned under the terms that if the borrower was not agreeable with the reset interest rate she should request SBI within 15 days of receipt of notice issued by the Bank intimating the change of interest rate so that the borrower might liquidate the loan by repaying the loan amount with interest. The Complainant had further stated that on 31.05.2011 the O.P/Petitioner - Bank had reset the rate of interest as 11.25% p.a. w.e.f. 23.12.2008 and debited an amount of Rs.1,35,151/- from the loan account of the Complainant as interest arrears. Stating these facts the Complainant filed the petition of complaint praying for direction upon the O.P/Petitioner that considering the gross deficiency in service and lack of any serious efforts by the Bank to redress the grievance by making compensation for mental agony and financial distress imposed on the Complainant and to reverse the wrong debit dated 31.05.2011 as well as to restore interest @ 7.75% per annum till 23.12.2014.

(3.) The O.P/Petitioner contested the case and filed written version contending, inter alia, that the O.P. Bank had the sole authority to reset the rate of interest. The O.P/Petitioner further stated that as per terms of the sanction letter the interest @ 7.75% was valid from 09.12.2005 to 09.12.2008. The Bank reset the rate of interest on 09.02.2011 w.e.f. 10.12.2008 and Rs.1,35,151/- had been debited towards arrears of interest. According to the O.P/Petitoner, there is no deficiency in service on the part of the O.P. and, therefore, the case should be dismissed.