SHIV BACHAN PRASAD Vs. NATIONAL BANK

JUDGEMENT

(1.) This Revision Petition questions the Order of the District Consumer Disputes Redressal Commission - II, Lucknow dtd. 8/8/2023 whereby the Complaint of the Petitioner has been rejected and the same has been confirmed on 17/4/2025 in Appeal - First Appeal No.1485 of 2023 by the State Consumer Disputes Redressal Commission, Lucknow, U.P.

(2.) Learned Counsel for the Petitioner has urged that undisputedly a sum of Rs.3,25,000.00 was taken as a Vehicle loan from the Punjab and National Bank, Alambagh Branch, Lucknow. The said loan was repayable in 84 instalments spanning over four years with regard to which certain post-dated cheques were tendered by the Petitioner. According to his allegations, the loan was disbursed on the understanding that the rate of interest would be 7.5%. According to the Complainant, he had tendered 24 post dated cheques to the Bank that were payable on the first date of each English calendar month and the remaining 22 cheques were payable on the fourth day of each calendar month with an EMI of Rs.4,953.00.

(3.) The allegation of the Complainant is that the post dated cheques were not presented by the Bank within time and were encashed at the own choice of the Bank imposing penal interest or otherwise on the Complainant for no fault of his. This was a clear deficiency.