AGAINST BANKING SERVICES TO DISTRICT FORUM
to District Forum Relating to Deficiency in Banking/ Financing Service Before
the District Consumer Protection Forum, Mumbai
Complaint No. ____ of 2002
s/o PQR, of ______ years,
at _____________, and
on _______ business. ........ Complainant
........ Opposite Party
Complainant above named submits as under:
the complainant along with ABC and LMN, i.e. the three together, took an
agricultural loan of Rs. __________ on ___day of ___________ from the Bank
the repayment of the said loan was being made from time to time. But it was
realized that the amount of the said loan was getting no reduction and illegal
interest was being charged thereon. Therefore, the complainant, by a letter
dated ________ asked the information from the Bank opposite party as to what
was the rate of interest for the years 1999-2000 so that the said loan could be
repaid in entirety. The true copy of the said letter is Annexure ''A''.
the opposite party started quarrelling with my representative on the receipt of
the said letter, but did not intimate the rate of interest. Therefore, the
opposite party was informed by registered letter No. ___ dated _______ that the
conclusion drawn from the conduct of the opposite party was that there was no
balance outstanding in respect of the said loan. Accordingly, the opposite
party should close the account of the said loan. The true copy of the said
letter is Annexure ''B''.
since the opposite party never intimated the rate of interest; therefore, the
opposite party was informed by registered letter No. _________, dated _____ that
only annual interest could be charged on agricultural loan and compound
interest could be charged only if loan/ installment was overdue, therefore, the
complainant had deposited Rs. _________/ in excess at the rate of 14% of
interest, which should be refunded with ''no-dues certificate'' within one
month, the true copy of the said letter is Annexure ''C''. But the opposite
party, without disclosing any legal and valid reasons, has neither refunded the
amount of excess deposit nor has given the ''no-dues certificate''.
it is a rule of law that annual interest can be charged on agricultural loan
and compound interest can be charged only when loan/installment has become
since no installment of loan taken by the complainant from the opposite party
was ever outstanding/overdue; therefore, there is no question of charging
compound interest thereon. The complainant has repaid Rs. _______/- against the
loan of Rs. ___________. The total interest payable thereon at the rate of 14%
per annum is Rs. _______/- but the complainant has paid Rs. _________/- by way
of interest. As such, the complainant has deposited/ paid Rs. _______/- in
excess to refund which the opposite party is legally bound.
the above mentioned facts and circumstances it is most respectfully prayed that
the Honorable District Forum may be pleased to:
the Bank opposite party to refund Rs. _______ together with interest at the
rate of 18% from __________, the date of last repayment to the date of payment
and issue ''no dues certificate''.
the bank to pay the complainant proper damages for the mental harassment caused
by the Bank opposite party to the complainant.
A, B, and C.