New Delhi: Vinod Chowdhary has won the first big fight of his 21 years as the State Consumer Court has held ICICI Bank guilty of attacking him through recovery agents.
It was a Maruti Swift that almost got him killed on January 8. Chowdhary was waiting in the Feroze Shah Kotla Ground parking lot for his uncle Tapan Bose, owner of the Maruti Swift.
He was approached by four men claiming to be from ICICI bank, asking him to get out of the car.
When he resisted they forced open the car door and attacked him with an iron rod. After that, they ran the car over his left foot and sped away.
“They are not bankers but goons. They attacked me and manhandled me,” said Chowdhary.
According to previous judgments of the State Consumer Commissions, the high court and even the Supreme Court, the law of the land is clear.
Banks and financial institutions can only use the civil procedure of recovery through courts and not musclemen.
The State Consumer Court has directed ICICI Bank to pay a fine of Rs 55 lakh and also return every loan installment paid by Tapan Bose so far.
A stern warning has also been given to banks against using musclemen for recovery.
Finally, the police commissioner has been asked to instruct all SHO's to register FIRs against similar complaints.
“This is a very strong judgment by the court,” said Prashant Mendiratta, an advocate with Delhi HC.
With strong words and a strong ruling by the court, it’s clear now that banks have no business taking the law into their own hands.
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