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MEENA RAMANATHAN, K. RANGA RAO
LIC Housing Finance Ltd. – Appellant
Versus
Bhupendra Agarwal – Respondent
ORDER
Meena Ramanathan, President—These are the appeals filed U/s.41 of Consumer Protection Act, 2019 against the order dated 04.03.2020 of the District Consumer Commission-II, Hyderabad made in CC.No.83/2019. The Opposite Parties filed FA.No.388/2020 and the Complainants filed FA.No.732/2020. As both these appeals arise out of the same order, they are being disposed of by this common order.
2. For the sake of convenience, the parties are described as arrayed in the complaint. 3
3. Briefly stated, the facts are that the Complainants have availed an housing loan of Rs.49,00,000/- (Rupees forty nine lakh only) from the opposite parties on 31.10.2017 on floating rate of interest. They have repaid Rs.36,00,000/- (Rupees thirty six lakh only) on 20.12.2017, in a span of two months and requested to charge interest on the balance amount of Rs.12,88,585/- from 20.12.2017. The complainants were informed on 28.12.2017 that first six months from the date of disbursement of loan the interest is to be paid on total loan amount. The opposite parties informed that a penalty amount of Rs.2,02,508/- would be charged as penal interest from January 2018 to May 2018, due to which they did not foreclos
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