STATE BANK OF INDIA THROUGH ITS ASST. GENERAL MANAGER, MARGAO BRANCH, NEAR MUNICIPAL GARDEN, MARGAO, GOA Vs. M/S. TELANG MOTORS PVT. LTD. THROUGH ITS MANAGING DIRECTOR, HAVING ITS ADMINISTRATIVE OFFICE, AT CD COUNTRYSIDE, SUNGLOW APARTMENTS, A NO. 6, 3RD FLOOR, FATORDA, MARGAO , GOA

JUDGEMENT

(1.) This appeal has been filed by the appellant against the order dated 1.4.2014 passed by the Goa State Consumer Disputes Redressal Commission, Panaji (in short, 'the State Commission') in Complt. No. 09/2010 M/s. Telang Motors Pvt. Ltd. Vs. State Bank of India by which, complaint was partly allowed

(2.) Brief facts of the case are that Complainant/Respondent is dealer of motorcycles manufactured by M/s. TVS Motor Co. Ltd. For expansion of business complainant/respondent obtained loan of Rs.40.00 lakhs from OP/appellant and had to pay interest on this amount. OP demanded loan amount. OP was requested for one time settlement and waiver of interest, but OP refused and complainant had to sell his other property at very low price. Alleging deficiency on the part of OP, complainant filed complaint before State Commission and claimed Rs. 85,26,000.00 towards interest, loan, damages, etc. OP resisted complaint, admitted grant of loan and submitted that when OP felt that complainant is not able to make regular payments, demanded loan amount and there was no question of one time settlement and waiver of interest. Denying any deficiency on their part, prayed for dismissal of complaint. Learned State Commission after hearing parties, allowed complaint partly and directed OP to pay compensation of Rs.3,00,000.00 against which, this appeal has been filed.

(3.) None appeared for respondent even after service of notice and he was proceeded ex-parte.