[Majority decision by Chairperson, Member (G),(P),(GG),(AG) and (T)]

1. The instant information has been filed by Shri Surinder Bhakoo ('Informant') under section 19 of the Competition Act, 2002 ('the Act') against the HDFC Bank Ltd., Auto loan Branch, Chandigarh and HDFC Bank Ltd. ('Opposite Party'), Andheri East, Mumbai for its alleged anti-competitive acts.

2. The facts and allegations in brief as given in the information are as under :

2.1 The Informant had taken a loan of Rs. 15,00,000/- from HDFC Bank as Auto loan at interest rate of 10.91 % for a period of 5 years on 6.3.2009 to purchase a BMW car.

2.2 After paying a few EMIs, the Informant decided to foreclose the account by paying the outstanding amount due to the seemingly high rate of interest being charged by the HDFC Bank. The Informant on 5.11.2009, sent a Cheque to the Opposite Party bearing No. 297309 drawn on Punjab National Bank for Rs. 13,11,561.22 for the payment of full outstanding payment as per the amount schedule supplied to the Informant at the time of the disbursal of loan.

2.3 The Opposite Party returned the above said Cheque to the Informant without assigning any reasons. The Opposite Party also informed