CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LIMITED Vs. YOGANAND SHANKAR NAIK

JUDGEMENT

(1.) THIS appeal is filed by the O.P. in C.C. No. 55/2007 and it is directed against order dated 30/06/10 of the District Forum, North Goa at Porvorim by which the Lr. District Forum has, inter alia, ordered the vehicle to be returned to the O.P. and the O.P. is ordered to refund to the complainant the sum of Rs. 3.5 lacs with interest at the rate of 12% p.a from 15/12/05.

(2.) THERE is no dispute as to facts. The O.P. had obtained the possession of a vehicle hypothecated to it from one Shri. Madhusudan Dessai who had become a defaulter in repayment of the loan given to him. The complainant offered to purchase the said vehicle namely an Eicher Tempo having registration No. GA -02 -Z -6250 from the O.P. According to the complainant, the complainant gave an offer of Rs. 3.7 lacs and according to the O.P. the vehicle was sold to the complainant for Rs. 3.5 lacs including Rs. 5000/ - as EMD, "as is where is" basis. The complainant signed and delivered to the O.P. a letter dated 15/12/05 at the time of delivery of the vehicle, inter alia, stating that:

(3.) THE complainant got the said vehicle towed away and according to him, he repaired the same at the cost of Rs. 80,000/ -.