TATA FINANCE LTD Vs. FRANCIS SOEIRO

JUDGEMENT

(1.) THIS cases illustrates how a financial company can ruin a person who takes loan from it for earning his livelihood.

(2.) ADMITTEDLY , in this case, the Complainant used the new vehicle, after having its body-building, for 2 to 3 months, and the same was seized from the Complainant on the ground that he failed to pay instalments. Thereafter, it was auctioned and sold at unjustifiably low price. By such an act, the Complainant, a poor person, who has taken loan for purchase of the chasis and thereafter spent huge amounts for its body-building, seats, accessories, etc., again by taking loan from the relatives, has lost his life saving and is made a debtor. His entire dream of having a vehicle for self-earning/employment is frustrated for years together.

(3.) AGAINST the order dated 28.8.2003 passed by the State Consumer Disputes Redressal Commission, Panaji, Goa, in Complaint No. 40 of 2002, Appellant, Tata Finance Ltd., has preferred this appeal.