Back
AVM J. RAJENDRA
Shree Mata Co-Operative Credit Society Ltd. – Appellant
Versus
Bhimappa Hanamantappa Raddi – Respondent
ORDER
The Appellants filed the instant Appeal under section 51 of the Consumer Protection Act, 2019 (the Act”), against the Order dated 01.03.2023 passed by the learned State Consumer Disputes Redressal Commission, Karnataka. (“State Commission”) in Consumer Complaint No. 156 of 2018, wherein the State Commission partly allowed the Complaint of the Complainant (Respondent herein) against the Opposite Parties (Appellants herein).
2. For convenience, the parties in the present matter are being referred to as per position held in the Consumer Complaint. The appellants are described as Opposite Parties (OPs) and the respondent is described as the Complainant.
3. Brief facts of the case, as per the complainant, are that he approached Shree Mata Co-operative Credit Society Ltd, managed by OPs, for financial assistance to develop his agricultural land. The OPs, operating under the Karnataka Co-operative Societies Act and the Multistate Co-operative Act, approved a loan of Rs.3,00,00,000, secured by the complainant’s title deeds, and agreed to an interest rate of 14% p.a. The loan was disbursed under A/c No. 645 and was to be repaid through 60 EMIs. Subsequently, he discovered that unautho
Dispute involving rendition of accounts & excess interest on loan between parties fell under business domain of cooperative society, requiring to be adjudicated by arbitration.
Consumer claims are maintainable notwithstanding alternative remedies under cooperative society laws.
Rate of Interest - the rate of interest mentioned would be the rate applicable for the duration of the ‘scheme’ and not any other rate.
(1) Detailed evidence – There is no force in contending that, that all the Complaints herein require detailed evidence and deep scrutiny which is not possible at all in summary inquiry contemplated u....
Commercial Purpose – The logic of a Bank providing overdraft against purchase of KVPs for commercial purpose as advanced by the appellant cannot be accepted.
Consumer complaints are maintainable even in the presence of arbitration clauses, affirming consumers' rights under the Act for effective redressal.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
