ORDER

K.S. Chaudhari, (P.M) - This revision petition has been filed by the petitioner against the order dated 16.5.2012 passed by the State Consumer Disputes Redressal Commission, U.T., Chandigarh (in short, 'the State Commission') in Appeal No. 50 of 2011, M/s. Reliance Capital Ltd. & Anr. v. Vikas Jain & Ors., by which, while allowing appeal, order of District Forum allowing complaint was set aside.

2. Brief facts of the case are that Complainants/Petitioners applied for the housing loan to the opposite parties/respondents. It was stated that the opposite 1 parties sanctioned loan of Rs. 2,37,00,000 to the complainants, for the purchase of H.No.28, Sector 7, Panchkula. The loan was granted on floating rate of interest of 11.90% per annum. It was further stated that the loan was to be repaid in 204 equated monthly instalments (EMIs). It was agreed between the parties that the opposite parties shall take over the vehicle loan of BMW Car, obtained by the complainants from ICICI Bank. At the time of finalisation of the loan, it was also agreed between the parties, that the opposite parties would charge 2.35% less interest, than the prevailing PLR (Prime Lending Rate). It was further a