Issues dealing with consumer rights
It seems to be a story that keeps on repeating itself over and over; you hear of people being harassed by loan recovery agents for repayment of loans, or of somebody’s vehicle being taken away from them anywhere where the vehicle can be found, and so on. In extreme cases, the pressure or violence of [...]
India’s legal system can work very slowly, what with the massive backlog of cases that it has. Due to this backlog and the time it could take to get a case heard, people resort to their own form of justice or get frustrated waiting for a resolution to the cases. In the case of a [...]
In a continuing chain of consumer redressal forums ordering payment of compensation where banks have used coercive means to distress loan defaulters, a Pune Consumer Redressal Forum ordered the payment of Rs. 1 lakh compensation to a lady whose car was seized by agents of ICICI Bank. The interesting part in this case is that [...]
For too long, we have been reading stories about banks using strong-arm methods for debt recovery. Cases of recovery agents subjecting defaulters to mental and physical torture and humiliation turn up in the media all the time, and there has been an increasing trend of the courts and consumer courts reacting strongly to such cases. [...]
In a significant judgment that attempts to penalise banks for the patronage of recovery agents who use force to get back the loan or the bought item, a Delhi Consumer Commission has fined ICICI Corp the sum of Rs. 50 lakhs for employing a recovery agent who used goondas to physically injure a person in [...]
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