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Judgment
WE are proceeding to dispose of this appeal at the stage of its admission itself on consideration of the material available in the appeal paper book and on hearing the learned Advocates for the parties as above. It is to be stated that respondents are present through their Advocate in response to the notice before admission issued on 7th October, 2002. (For brevitys sake appellant is hereinafter referred to as complainant and respondent as O.P.)
THE complainant has filed this appeal against the order dated 23rd July, 2002 passed by District Forum, Solapur dismissing his complaint and rendering findings that O.P.-Bank was not deficient as alleged by the complainant. It is noticed that somewhere in the year 1991 complainant had obtained a loan from O.P.-Bank by pledging Gold Ornaments and Jewellery. As per terms of the Loan Agreement, complainant was to repay the loan within 11 months. However, he could not do so and committed default.
It is noticed that even thereafter complainant did not arrange to clear the loan liability. That being so, in the year 1996, Bank proceeded to auction the pledged Ornaments and Jewellery and appropriated the process received for liquidation of the loan liability of the complainant.
THE complainant filed the complaint stating when the repayment period was 11 months, O.P.-Bank should not wait for 4-5 years to conduct the auction of the Gold Ornaments and Jewellery. The same was not found sufficient ground in support of the deficiency and in our view rightly more so when the complainant is a defaulter. ORDER 1. No merits. Appeal stands dismissed. 2. However, there shall not be any order as to costs. 3. Misc. Appl. No. 1795/2002, which the complainant has taken out seeking condonation of delay in filing this appeal has been allowed and application to be treated as disposed of. 4. Office shall furnish copies of the order to the parties.
Appeal dismissed.