STATE CONSUMER DISPUTES REDRESSAL COMMISSION, PUNJAB, CHANDIGARH.

Date of institution : 13.02.2020 Reserved on : 21.12.2021 Date of decision : 04.01.2022 Balwant Singh, aged about 63 years S/o Kirpal Singh S/o Arjan Singh, R/o Village Buttar, Tehsil and District Faridkot.

….Appellant/Complainant Versus UCO Bank, Branch at opposite Balbir Hospital, College Road, Faridkot, Tehsil and District Faridkot, through its Branch Manager.

…..Respondent/Opposite Party First Appeal against the order dated 09.12.2019 passed by the District Consumer Disputes Redressal Forum (now ‘Commission’), Faridkot.

Quorum:-

Hon’ble Mrs. Justice Daya Chaudhary, President Mrs. Urvashi Agnihotri, Member

1) Whether Reporters of the Newspapers may be allowed to see the Judgment? Yes/No

2) To be referred to the Reporters or not? Yes/No 3) Whether judgment should be reported in the Digest? Yes/No Argued by:-

For the appellant : Sh. Piyush Sharma, Advocate for Sh. Tarun Sharma, Advocate with Sh. Balwant Singh, in person For the respondent : Sh. V.K. Gupta, Advocate with Ms.Shelly Sachdeva, Sr. Manager(Law)

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JUSTICE DAYA CHAUDHARY, PRESIDENT Miscellaneous Application No.330 of 2021 This application has been filed by the respondent-Bank for placing on record the copy of sanction, deed of hypothecation and copy of amortization schedule.

2. For the reasons recorded in the application, the same is allowed and the said documents attached with the application are taken on record as Annexure R-1 to R-3.

Miscellaneous Application No.935 & 1028 of 2021

3. Said applications have been filed by the respondent-Bank for a direction to the appellant/complainant to deposit the total outstanding amount.

4. There is no settlement arrived between the parties in the present case. Moreover, the OP-Bank has already received the amount of Rs.3,28,000/- in lieu of interest, accordingly, there is no merit in these applications and the same are hereby dismissed.

Miscellaneous Application No.943 of 2021

5. This application has been filed by the appellant for issuing the direction to the respondent-Bank to issue ‘No Objection Certificate’

after receiving the amount of Rs.3,28,000/-.

6. The matter is still under consideration, accordingly, no direction can be issued at this stage. Disposed of at this stage.

Main Case

7. The appellant-Balwant Singh has filed the present appeal under Section 15 of the Consumer Protection Act, 1986 (in short ‘The Act’) for setting aside the impugned order dated 09.12.2019 passed in Consumer Complaint No.146/2019 whereby the complaint filed by him was dismissed by the District Consumer Disputes Redressal Forum, Faridkot (in short, now the “District Commission”).

8. Briefly the facts of the case as made out in the complaint are that the complainant raised a loan of Rs.35,70,000/- from respondent/OP-UCO Bank for construction of green house (Poly House) for growing vegetables. The rate of interest was 11.95% per annum, which was a simple interest and repayment of the loan was scheduled to be paid in half yearly installments. An amount of Rs.44,000/- was charged as processing fee. The OP/respondent took 10 blank cheques from the complainant as security. Out of total loan amount, the complainant paid Rs.31,00,000/- by way of instalments and never remained defaulter while paying the instalments. It has further been mentioned in the complaint that subsequently, he came to know that the respondent/OP charged compound interest as well as penal interest from the complainant, whereas it was a case of simple interest. The OP/respondent-Bank was requested to charge simple interest @11.95% per annum through half yearly instalments, but still request was not accepted. Thereafter also a number of requests were made but there was no result. Hence, the complainant filed the complaint before the District Commission for redressal of his grievance but the same was dismissed vide order dated 09.12.2019

9. Said impugned order dated 09.12.2019 is subject matter of challenge in