The Hyderabad District Consumer Forum-2 admonished Cholamandalam Finance to return the house documents, house blueprint and the NoC immediately to the woman, who complained against the company of harassment. The decision brigs great relief to her.
The forum ruled that she has no business to repay the loan of Rs 42 lakh availed by her husband. It made it clear that the stand taken by the Cholamandalam Investment and Finance Company is not justified. The forum asked the finance company to pay Rs 1 lakh towards the compensation and Rs 5000 towards court expenses. Earlier, the forum opposed with the counsel for the finance company who argued that the case does not come under the purview of the consumer forum. The actions of the finance company come under the purview of the deficiency in services.
In 2016, Sunkari Venkata Narayana Vengaiah built a home in 238 square yards in Aakula Narayana Colony of Malkajgiri area of Hyderabad. He availed bank loan for the purpose from the Bank of India. He has been repaying the loan every month without fail. At this juncture, Cholamandalam Investment and Finance company approached him and offered him a loan of Rs 42 lakh. Later, it sanctioned loan in the name of Vengaiah and on the name of his wife Malleswari. It paid Rs 14 lakh towards the settling of the Bank of India loan and transferred the balance to the couple’s account. At the same time, the couple took insurance for covering the loan. On November 14, 2020, Venkata Narayana passed away. In this backdrop, Cholamandalam Investments troubled Malleswari not returning the house documents forcing Malleswari to approach the consumer forum.
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