INDUSIND BANK LTD. Vs. PANCHAPPA

JUDGEMENT

(1.) This revision petition has been filed by the petitioners against the order dated 4.11.2008 of the Karnataka State Consumer Disputes Redressal Commission, Bangalore, (in short 'the State Commission') passed in Appeal No. 1390 of 2008 whereby the order of the District Forum was set aside.

(2.) The brief facts of the case are that the Respondent/Complainant approached the petitioner bank to obtain car loan under a special scheme. The scheme was offered by the O.P. with the following break-up of the car loan on road:

(3.) On 2.2.2005, the complainant executed an agreement for Rs. 2,91,972. Accordingly, 84 instalments for Rs. 3,476 had been fixed by the Opposite Parties for the repayment. While taking possession of the car, complainant enquired about the insurance and he was informed by O.P. that it will be done within 2 days. In short, possession of the car was taken by complainant without insurance and registration. Although, the complainant commenced repayment of the loan amount, the G.P. failed to get the vehicle registered. Thus, the Complainant requested the O.P. to return the vehicle registration charges but request was not acceded to. Lastly, the complainant requested O.P. to reduce the finance charges on this account, but request was declined. On 27.2.2007, the O.P. repossessed the vehicle on the ground that the complainant had committed default in the payment of instalments. Meanwhile, the Complainant issued a legal notice dated 7.3.2007. Even after the reply was sent, the matter was not settled. Finally, the O.P. sold the car and the sale proceeds were adjusted towards the loan account of the complainant.