Equitas Small Finance Bank Limited VS N. Gopal S/o. Ramachandra Prasad

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

MEENA RAMANATHAN, V. V. SESHU BABU
Equitas Small Finance Bank Limited – Appellant
Versus
N. Gopal S/o. Ramachandra Prasad – Respondent

Advocates:
Counsel for the Parties:
For the Appellants: Mr. Dharmender Prasad, Counsel
For the Respondent: Sri. R. Venkata Krishna, Counsel

ORDER

V.V. Seshu Babu, Member - Judicial—This appeal is filed U/s 15 of the Consumer Protection Act, 1986 aggrieved by the order dated 21.06.2019 in CC NO.49/2016 by the DCDRC Mahabubnagar, wherein Opposite Party is directed to pay Rs.1,20,000/- and costs of Rs.2,000/- within one month from the date of order.

2. The brief averments of the complaint obtained loan of Rs.4,80,000/- and made a down payment of Rs.1,20,000/- to purchase the lorry No. AP 28 V 4419 repayable in 42 installments @ Rs.17,821/- per month commencing from February 2013 to May 2016, that he was regular in the payment of installments till December 2013; that the complainant met with an accident and sustained factures, due to the same failed to pay the installments; that in spite of requests of the complainant the opposite party not given any time to pay the installments; that without giving any notice in February 2014 opposite party seized the lorry; that on 29.12.2014 a notice was received by the complainant that at the instance of opposite party arbitrator was appointed and he had to appear before arbitrator at Chennai and 27.01.2015; that the opposite party sold away the seized vehicle for Rs.2,70,000/- when it

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