Dinesh Singh, Member—The matter in brief is that the respondent – complainant obtained a loan of Rs. 3,20,000/- from the revisionist – finance co. for purchasing the subject vehicle. The loan was for 36 months. The complainant deposited post-dated cheques with the finance co. There was an agreed arrangement between both parties to the effect that the complainant would pay EMI (equal monthly installment) to the finance co. in cash and get back his corresponding post-dated cheque for the said month.

The case of complainant was that he had paid all monthly installments without default. The finance co. refused to issue its NOC (No Objection Certificate) despite duly receiving all monthly installments. The finance co. wrongly alleged that one monthly installment was not paid and wrongly demanded one (more) monthly installment with penal charges and penal interest. The finance co. indulged in deficiency in service and unfair trade practice.

The contention of the finance co. was that the complainant had committed default in payment of one monthly installment. The complainant was liable to pay the said monthly installment with penal charges and penal interest in addition to cheque bou