In Brief
IndusInd Bank financed a truck loan to Simarjit Singh for Rs. 13,50,000, repayable in monthly instalments. Although the borrower paid more than required by the instalment schedule and was not in default, the Bank's agents forcibly repossessed the truck with its timber cargo in July 2008. The borrower sued for deficiency in service. The consumer commissions awarded him Rs. 10,80,000 (truck value), Rs. 20,00,000 (timber), compensation for loss of livelihood, and litigation costs. On appeal, the Supreme Court upheld most awards but remitted the timber valuation issue to the State Commission for fresh examination based on proper evidence, and clarified that livelihood compensation ended in October 2018.
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