9911796707
TMI Blog2013 (5) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... nance from the respondent - Shriram Transport Finance Company. It has come in the information that initially the loan was drawn for purchasing three small lorries. The rate of interest was 5.7%. The informant then fell in defaults and therefore his loans were adjusted by creating a separate loan account. This time the loan was adjusted at the rate of 9%. According to the informant this was done un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. When the matter came before the CCI, it was also advocated before the CCI that the respondent was charging excessive interest at the rate of 9% and the agreement which was got signed under the duress and the informant was actually asked to sign on the dotted lines with the attitude of take it or leave it. 3. The Commission has gone thoroughly into the report of the DG and has found fault with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irstly deciding upon the relevant market and secondly on the aspect of the respondent being a dominant player in the market. The learned counsel wanted to rely on the prospectus of the respondent which, in our view, would be an irrelevant document to decide the dominance in the market. The informant was expected to point out as to how the respondent enjoyed the dominant position in the market, by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he banks do not finance the commercial vehicles. There is no material on record provided by the informant much less argued before us. Under the circumstances, we are constrained to hold that the finding of the CCI was correct. No arguments were advanced before us for breach of Section 3 of the Act. 6. Under the circumstances, we agree with the judgment of the CCI. 7. The learned counsel also arg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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