Misleading public by financial institutes

(North West District)
CSC-Block, Shalimar Bagh, Delhi-110088.

Case No.1798/09

Preeti Singh
R/o Flat No.383,
Pocket – 6, Sector – 2,
Rohini, Delhi.

Fullerton India Ltd.,
Ashok Vihar,
Near Murga Market,
C-I, 2nd Floor, J-Block,
Local Shopping Centre,
Phase – I, Delhi.


Dr. Prem Lata, Member

Complainant has applied to the OP for personal loan for an amount of Rs.50,000/- which was approved by them fixing 24 EMIs for an amount of Rs.2848/- each. It is alleged by the complainant that he was promised by the employees of OP named Manav Dua, Ajay Manchanda Branch Manager that the EMIs so fixed shall be reduced to Rs.2400/- p.m. after seven installments are paid. They had taken signed photocopy of certain documents two latest salary slip, Pan Number, Updated Bank Statement, Resident Proof, Two Photographs, ITR on the pretext of applying for reduction of EMI, but nothing is done inspite of several communications with the OP which compel the complainant to come before this forum for redressal of her grievance, their documents also be returned in order to avoid any misuse. Complainant also prays this forum for compensation and cost of litigation.
OP appeared before the forum after receiving the notice and rebuts the allegation facts upto the extend are admitted that Rs.50, 000/- loan was granted to the complainant and Rs.2848/- was the EMI amount fixed for 24 months rest of all the allegations denied. It is denied having taken any documents from the complainant in the pretext of reducing the EMI amount. It is further stated that no officer can ever have the right to make any changing in the terms of agreement made by the parties at the time of taking the loan. In the rejoinder filed by the complainant. Copies of some E.mail communication have been filed which addressed to husband of complainant Manmeet Singh. The complainant husband is the authorized person which is shown through e.mail correspondence by the complainant.
Both the parties filed their evidence by way of affidavit and also written arguments.
While going through the documents we find one copy of e.mail sent by one Manav Dua to Manmeet Singh the husband of complainant on 12.12.2008 confirmation about restructuring of EMI after seven months this e.mail refer for the loan taken for an amount of Rs.50,000/- for which EMI Rs.2848/- fixed for 24 months. E.mail addressed to dear madam though this document is not signed it being an e.mail we apprehend that official of the branch had allured the complainant by making a false promise for reducing the EMI. Though this is the discretion of the company to reduce the EMI or to refuse it or make an alteration or amend the agreement signed by both the parties but this piece of evidence i.e. e.mail communication surely indicated the unfair trade practices done by the official on behalf of the company which is very glaring fact and cannot be ignored. As far as rules and law is concerned neither the officer is bound to fulfill the promises nor can be panelized for not doing so but in the presence circumstances and facts stated above Manav Dua the relationship Manger, Ashok Vihar Branch, who send this communication to the husband of the complainant is beyond any doubt played a vital roll in convincing the complainant that she can go ahead in accepting the loan. It is a very serious matter acting in such manner by any responsible office bring bad name to the company and alluring the public at large.
We therefore are the firm opinion that complainant allured and misguided by the officers of the company while finding no deficiency on the part of company for not reducing the EMI. We found Manav Dua Relationship Manager indulged in the unfair trade practices. Hence we imposed Rs.25,000/- as penalty and this compensation is to be paid by Manav Dua, Relationship Manager, Ashok Vihar Branch to pay from his on pocket to the complainant and also cost of litigation Rs.5000/-.
The above amount shall be paid by OP to the complainant within 30 days from the date of this order failing which OP shall be liable to pay interest on the entire awarded amount @ 10% per annum from the date of this order till the date of payment. If OP fail to comply with the order within 30 days, the complainant may approach this Forum u/s 27 of the Consumer Protection Act.
Copy of the order be made available to parties free of cost as per law.
File be consigned to record room.
Announced on…………………….



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