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G. RADHA RANI, MEENA RAMANATHAN
Branch Manager, Indusind Bank Ltd. – Appellant
Versus
Paddam Srinu – Respondent
JUDGMENT :
Meena Ramanathan, Member, Non-Judicial.—These appeals are filed under Section 41 of Consumer Protection Act, 2019, against the order dated 30.11.2022 passed in CC.No.02 of 2022 on the file of District Consumer Commission, Khammam. The Opposite Parties filed FA.No.132/2023 and the Complainant filed FA.No.334/2023. 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. Briefly stated, the facts are that - the Complainant purchased Tata Motors Make goods carrying vehicle bearing registration No.TS 04 UC 5690 under hypothecation agreement with Indusind Bank Limited, Kothagudem on 31.03.2018 and on the same day, the Indusind Bank Ltd., sanctioned the loan in favour of the Complainant. The cost of the vehicle is Rs.29,85,000/- and the Complainant paid a sum of Rs.2,50,000/- towards down payment and remaining amount was loan to an extent of Rs.27,35,000/-. As per the agreement, the outstanding loan amount with interest was Rs.36,13,400/- which was divided into 58 EMIs to an extent of Rs.62,300/- per month and the EMI was started from 05.06.2018. Th
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(1) Consumer – A self-employed individual purchasing a commercial vehicle (like a goods carrier/lorry) for the purpose of earning a livelihood is a “Consumer” under the Act. The mere generation of pr....
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