SREI EQUIPMENT FINANCE LTD & ANR Vs. BRANCH MANAGER, SREI EQUIPMENT FINANCE LTD ; P K INFRA AND POWER COMPANY PVT LTD

JUDGEMENT

(1.) This revision petition has been filed under section 21(b) of the Consumer Protection Act, 1986, against the impugned order dated 09.10.2015, passed by the Odisha State Consumer Disputes Redressal Commission, Cuttack (hereinafter referred to as "the State Commission") in R.P. No. 127/2015, SREI Equipment Finance Ltd. & Anr. vs. P.K. Infra and Power Company Pvt. Ltd., vide which, while dismissing the said petition, the order passed by the District Consumer Disputes Redressal Forum, Khurda, Bhubaneswar in Miscellaneous Case No. 120/2015, passed in Consumer Complaint C.D. No. 290/2015, was upheld. The District Forum, vide the said order, had directed the petitioner not to take any coercive action against the moveable assets hypothecated with them till further orders.

(2.) Briefly stated, the facts of the case are that the respondent/complainant, P.K. Infra and Power Company Pvt. Ltd. filed the consumer complaint C.D. No. 290/2015 against the petitioners, M/s. SREI Equipment Finance Pvt. Ltd., saying that the complainant had entered into six loan agreements with the petitioners/opposite parties (OPs) for different machines, assets and equipment on 09.04.2012, the details of which were provided in the consumer complaint. The agreement was to commence on 15.03.2012 and was supposed to end on 15.02.2015. The monthly instalment for each of the loan agreement and the repayment schedule were fixed in each case. Due to the closure of the mining activities in the area, because of some restrictions imposed by the Government, the complainant Company could not deposit the instalments on regular basis. They, therefore, approached the petitioners/OPs for re-scheduling the instalments. However, due to the failure of the petitioners/OPs for rescheduling the instalment to the satisfaction of the complainant, the consumer complaint in the case was filed, seeking directions to the petitioners/OPs for fixing easier instalments by waiving off the delay payment charges as well as the overdue interest/charges.

(3.) The District Forum, vide their order dated 18.08.2015, stated as follows:-