STATE CONSUMER DISPUTES REDRESSAL COMMISSION KARNATAKA FIRST APPEAL NO. SC/29/A/43/2015 M/s Kotak Mahindra Bank Limited PRESENT ADDRESS - No.58 & 59, I floor, Shree Complex, Bhavani HSG Co-Operative Society Limited, 'T'block, Banashankari III stage, Bangalore-560085, Rep by its Authorised Signatory Sri B.Ravikumar . ,KARNATAKA.

.......Appellant(s)

Versus Smt.Mandakka PRESENT ADDRESS - W/o Sri Obaiah, A/a 65 years . r/a Kodihally, Challakere Taluk, Chitradurga District-577543 ,KARNATAKA.

Dhananjaya, PRESENT ADDRESS - S/o Obaiah, A/a 48 years, r/a Kodihally, Challakere Taluk, Chitradurga District-577543 . ,KARNATAKA.

.......Respondent(s)

BEFORE:

HON'BLE MR. RAVISHANKAR , JUDICIAL MEMBER HON'BLE MRS. SMT.SUNITA CHANNABASAPPA BAGEWADI , MEMBER FOR THE APPELLANT:

NEMO FOR THE RESPONDENT:

NEMO DATED: 16/05/2025

ORDER

BEFORE THE KARNATAKA STATE CONSUMER DISPUTES REDRESSAL COMMISSION, BANGALORE. (ADDL. BENCH DATED THIS THE 16^th DAY OF MAY, 2025 APPEAL NO.43/2015 PRESENT SRI RAVI SHANKAR, JUDICIAL MEMBER SMT. SUNITA C.BAGEWADI, MEMBER M/s Kotak Mahindra Bank Limited st No.58 & 59, 1 Floor, Shree Complex, Bhavani HSG Co-operative Society Limited, “T” Block, …. Appellant/s rd Banashankari 3 Stage, Bengaluru-50 085 Represented by its Authorized Signatory Sri.B.Ravi Kumar, (By Sri.B.Shivakumar, Advocate)

-V/s-

1. Smt.Mandakka, W/o Sri.Obaiah, Aged about 65 years, … Respondent/s

2. Sri.Dhananjaya, S/o Obaiah, Aged about 48 years, Both are residing at Kodihally, Challakere Taluk, Chitradurga District -577543 (R-1&2 by Sri.Manjunatha.K, Advocate)

O R D E R

BY SMT. SUNITA C.BAGEWADI, MEMBER This appeal is filed by the appellant/Opposite Party being aggrieved by the order dated 20-12- 2014 passed by the District Consumer Commission, Chitradurga in CC.No.37/2014 and prays to set-aside the order passed by the District Commission and dismiss the complaint, in the interest of justice and equity.

2. The brief fact of the complaint is that, the complainants intended to purchase a tractor for the development of the agriculture, hence they approached to the Mahindra and Mahindra Tractor at Chitradurga which worth of Rs.6,75,000/-. The dealers have made arrangement for loan of Rs.4.00 lakhs from the Opposite Party and the complainants have paid a sum of Rs.2,75,000/- to the tractor dealer and purchased the said tractor. The Opposite Party took the tractor as a security of the loan by hypothecating the same. As per the terms and conditions of the repayment of the loan, the complainants have to pay Rs.86,000/- per installment per half yearly, in the agreement to default to pay the same the due amount will pay attracted penal interest @ 36% per annum per EMI for overdue. The complainant had paid first installments of Rs.86,000/- in time through their said field officer. The second installment was due on 5.10.2013 and the complainants could not pay the same in time due to financial problems. Surprisingly on 8.1.2014 the Opposite Party has sent a notice to the respondents to pay the second installment, after receiving the notice, the complainants went to the office of the Opposite Party to pay the due installments of Rs.86,000/- with interest, but the Manager of the Opposite Party refused to receive the said amount saying that there was delay and he could not take installments amount. The office of the Opposite Party came to the house of the complainants on 11.1.2014 and took the possession of the vehicle without following the procedure provided under the law. On 20.1.2014 the Opposite Party sent a notice to the complainants stating that they have to pay a sum of Rs.4,01,748/- within seven days which contains principle amount interest and other charges. The complainants went to the office of the Opposite Party to seek clarification of the same. However, the Opposite Party ignored to clarify. Hence the complainants issued a legal notice to the Opposite Party and requested to receive the balance due installments and deliver the tractor to the complainants, but the Opposite