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    CDA957-2005 Date Chart

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    K SANMUKHA PATRA
    This document outlines an appeal challenging a district consumer disputes redressal forum order. It provides context that in November 1996, Respondent 1 was sanctioned a Rs. 50,000 PMRY loan from Appellant 1 (Indian Overseas Bank). In December 1996, Rs. 50,000 was disbursed, including Rs. 2,500 as block capital and Rs. 47,500 as working capital to be repaid in 84 installments. In January 1997, the working capital was converted to a cash credit facility. In October 2005, the district forum ordered Appellants 1 and 2 to jointly pay Rs. 7,500 plus interest, Rs. 20,000 in compensation, and Rs. 2,000 in litigation expenses

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    CDA957-2005 Date Chart

    Uploaded by

    K SANMUKHA PATRA
    4 views2 pages
    This document outlines an appeal challenging a district consumer disputes redressal forum order. It provides context that in November 1996, Respondent 1 was sanctioned a Rs. 50,000 PMRY loan from Appellant 1 (Indian Overseas Bank). In December 1996, Rs. 50,000 was disbursed, including Rs. 2,500 as block capital and Rs. 47,500 as working capital to be repaid in 84 installments. In January 1997, the working capital was converted to a cash credit facility. In October 2005, the district forum ordered Appellants 1 and 2 to jointly pay Rs. 7,500 plus interest, Rs. 20,000 in compensation, and Rs. 2,000 in litigation expenses

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    This document outlines an appeal challenging a district consumer disputes redressal forum order. It provides context that in November 1996, Respondent 1 was sanctioned a Rs. 50,000 PMRY loan from Appellant 1 (Indian Overseas Bank). In December 1996, Rs. 50,000 was disbursed, including Rs. 2,500 as block capital and Rs. 47,500 as working capital to be repaid in 84 installments. In January 1997, the working capital was converted to a cash credit facility. In October 2005, the district forum ordered Appellants 1 and 2 to jointly pay Rs. 7,500 plus interest, Rs. 20,000 in compensation, and Rs. 2,000 in litigation expenses

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    4 views2 pages

    CDA957-2005 Date Chart

    Uploaded by

    K SANMUKHA PATRA
    This document outlines an appeal challenging a district consumer disputes redressal forum order. It provides context that in November 1996, Respondent 1 was sanctioned a Rs. 50,000 PMRY loan from Appellant 1 (Indian Overseas Bank). In December 1996, Rs. 50,000 was disbursed, including Rs. 2,500 as block capital and Rs. 47,500 as working capital to be repaid in 84 installments. In January 1997, the working capital was converted to a cash credit facility. In October 2005, the district forum ordered Appellants 1 and 2 to jointly pay Rs. 7,500 plus interest, Rs. 20,000 in compensation, and Rs. 2,000 in litigation expenses

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    © All Rights Reserved
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    of 2

    BEFORE THE ORISSA STATE CONSUMER DISPUTE REDRESSAL COMISSION:

    CUTTACK,
    C.D.A. No 959/2005
    In the matter of: An application under Section 15 of the Consumer Protection
    Act,1987.
    AND
    In the matter of: An appeal challenging the order dt.26.10.05 passed by the learner
    District Consumer Disputes Redressal Forum, Kalahandi in
    C.D.A No.60/2000.
    AND
    In the matter of: 1. Indian Overseas Bank represented by its Branch Manager,
    Bhawanipatna Branch, Bhawanipatna.
    (Appellant No.1/Opp Party No.1in the District Forum below)
    2. Asst. General Manager, Indian Overseas Bank, Regional
    Office, Berhampur-760001.
    (Appellant No.2/Opp Party No.2 in the District Forum
    below)
    … Appellants
    -Versus-
    1. Prasanta Chandra Mohanty, S/o Dhruba Ch. Mohanty,
    At- Statuepada, Bhawanipatna, Po/Ps-Bhawanipatna.
    (The Complainant before the district forum)
    2. General Manager, Industries Center, Kalahandi,
    At-Bhawanipatna, Po/Ps-Bhawanipatna, Dist- Kalahandi.
    3. Director of Industries, Orissa, Killa Maidan, Cuttack
    At/Po/Dist- Cuttack
    … Respondents
    DATE CHART

    Date: Particulars:
    22.11.96 PMRY Loan of Rs.50000/- sanctioned to the Respondent No.1
    31.12.96 Respondent No.1 executed the security loan document.
    30.12.96 Loan amount of Rs.50000/- was disbursed for two purposes
    1. Block Capital of Rs.2500/-
    2. Working Capital of Rs.47500/- as a composite loan to be
    repaid in 84 EMIs @Rs.939/- including the 6 months
    moratorium period
    15.4.97 Term loan was fully repaid
    09.1.97 At the request of Respondent No.1 the working capital limit
    was converted to Cash Credit under running Balance system
    and the same was bifurcated.
    24.2.99 The respondent no.1 approached the appellant Bank for
    enhancement of his C.C limit from Rs. 30000/- to
    Rs.95000/-.
    21.2.00 The appellant no.1 intimated to respondent no.1 regarding
    decline of his enhancement proposal.
    26.10.05 District Consumer Dispute Redressal Forum has passed an
    order
    on the CD No.16/2000 filed by the Respondent No.1 helding
    Appellant No.1 and 2 jointly and severally liable to pay a sum
    of
    Rs.7500 together with interest thereof from dt.21.1.97 till actual
    Payment and also directing the Appellant No.1 and 2 to pay a
    sum of Rs.20000/- towards compensation and Rs.2000/-
    towards
    litigation to the complainant.

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