SHRI MILKHASING AJITSINGH HUNDAL ADD. AT POST SHRIRAM NAGAR OPPOSITE PANCHAVATI BUS DEPOT, OLD ADGAON NAKA PANCHAVATI NASHIK Vs. CHIEF EXECUTIVE OFFICER, THE NASHIK MERCHANTS CO.OP. BANK LTD. THE NASHIK MERCHANTS CO.OP. BANK LTD, ADMN. OFFICE A

JUDGEMENT

(1.) The complainant/petitioner took a loan of Rs.1,35,000.00 from the respondent against pledge of gold jewelry weighing 82.4 grams. The complainant having failed to repay the said loan, the gold jewelry was sold by the respondent and the sale proceeds were credited to the loan account. The balance amount available after adjustment of the loan amount was credited in the saving account of the complainant. Being aggrieved, the complainant approached the concerned District Forum by way of a complaint, alleging deficiency on the part of the respondent in rendering services to him.

(2.) The complaint was resisted by the respondent which denied any deficiency in the services rendered to the complainant and claimed that the gold was sold after notice to the complainant.

(3.) The District Forum vide its order dated 12.8.2014 directed the respondent to pay a sum of Rs.32,980.00 to the complainant, along with interest @ 10% per annum, compensation quantified at Rs.15,000.00 and the cost of litigation quantified at Rs.5,000.00.