MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD THROUGH ITS AUTHORIZED SIGNATORY PUNEE SINGH LEGAL EXECUTIVE, BRANCH OFFICE AGGRAWAL CORPORATE TOWER Vs. SOPAN TRIMBAK YEDKE

JUDGEMENT

(1.) The complainant/respondent took a loan of Rs.3,45,000/- from the petitioner company, for purchasing a vehicle and executed a loan agreement dated 28.01.2013. The loan was repayable in installments. The complainant/respondent allegedly committed default in payment of the installments. The case of the petitioner is that since he could not pay the monthly installments, the complainant surrendered the vehicle to the petitioner company. The vehicle was thereafter, sold for a price of Rs.1,75,000/-. This is also the case of the petitioner that before selling the vehicle, they had sent a notice to the complainant informing that they would be constrained to sell the vehicle if the outstanding dues were not paid.

(2.) Being aggrieved from the sale of the vehicle, the complainant approached the concerned District Forum by way of a consumer complaint, seeking refund of Rs.1,80,378/- which the complainant had paid towards cost of the vehicle besides a direction to the petitioner not to recover any amount from him. Compensation for the illegal seizure of the vehicle was also sought.

(3.) The complaint was resisted by the petitioner company which alleged that the vehicle had been surrendered by the complainant on account of his inability to pay the outstanding loan amount and therefore, it was sold after giving the requisite notice to him.