AU FINANCIER (INDIA) LTD Vs. MANGI LAL

JUDGEMENT

(1.) The Ld. Counsel for the petitioner submits that pay order of Rs. 2,00,000/- has been deposited with the District forum. This was a mistake on the part of petitioner since the pay order ought to have been brought before us for being handed over to the complainant. We therefore direct to District forum to release the aforesaid pay order of Rs. 2,00,000/- to the complainant within one week from today.

(2.) The complainant purchased a Mahindra pick up for a sum of Rs. 4,51,000/- out of which a sum of Rs. 3,48,800/- was got financed by him from the petitioner company. The aforesaid loan was payable in equated Monthly Installment of Rs. 12,765/- commencing 10.05.2008. The complainant however paid only the first installment which was due on 10.05.2008 and even that payment was made on 04.06.2008. The vehicle came to be seized by the petitioner company on account of non-payment of the EMIs. According to the complainant, the vehicle was seized on 11.07.2008 whereas according to the petitioner company, it was seized on 19.08.2008. The vehicle was thereafter sold for a consideration of Rs. 4,40,000/-. Being aggrieved, the complainant approached the concerned District Forum by way of a complaint seeking compensation to the extent of Rs. 1,50,000/- alongwith Rs. 3,00,000/- for the financial loss caused to him and Rs. 10,000/- as cost of litigation.

(3.) The complaint was resisted by the petitioner company primarily on the ground that there was default on the part of the petitioner in payment as many as three installments since only one installment was paid, till the vehicle came to be seized by them on 19.08.2008. It was further stated in the reply that the vehicle was sold after serving a notice dated 20.08.2008 upon the complainant.