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NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION, NEW DELHI
C. Viswanath (Presiding Member), *Subhash Chandra (Member)
Brij Bhushan Aggarwal v. ICICI Bank Limited
| Table of Content |
|---|
| 1. petition under consumer protection act for revising banking practices. (Para 1 , 2 , 3) |
| 2. determination of the proper reading of loan agreement documents. (Para 4 , 5 , 6) |
| 3. court's interpretation on unfair trade practices concerning interest rates. (Para 10 , 11 , 12 , 13) |
| 4. final ruling supporting initial decision of district forum. (Para 14) |
1. This Revision Petition under S.21(b) of the Consumer Protection Act, 1986 (in short, 'The Act') assails the order dated 16.11.2012 passed by State Consumer Disputes Redressal Commission, U.T. Chandigarh (in short, 'State Commission') in First Appeal No. 288 of 2012 arising out of the order dated 25.6.2012 of the District Consumer Disputes Redressal Forum, Forum - I, U.T. Chandigarh (in short, 'District Forum') in C.C. No. 683 of 2011.
2. The brief facts of the case, as stated by the petitioners / complainants (hereinafter referred to as 'petitioners') are that they had entered into a loan agreement on 22.8.2016 with the respondent bank for House No. 1115, Sector - 33 C, Chandigarh for Rs.1,90,00,000 with an E.M.I. of Rs.1,89,903 per month to be repaid over 180 monthly instalments @ 12% interest p.a. After some time peti
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