Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: VAT Audit :: due date for vat payment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: ACCOUNTING STANDARD :: VAT RATES
 
 
General »
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms
 Activities To Be Treated As Supply Even If Made Without Consideration Under CGST ACT
  Haryana Goods and Services Tax Bill passed

Consumer panel raps finance company for repossessing vehicle
June, 06th 2008

The Delhi Consumer Commission has rapped a finance company for forcibly taking back a vehicle from its owner after he defaulted in loan repayment, saying using musclemen for recovering money amounted to violation of human rights.

"No society governed by rule of law can allow an individual to take the law in his hands," Commission President Justice J D Kapoor said, dismissing an appeal of Citi Corp Finance India Ltd against a district consumer forum's order.

The district forum had asked the finance company to refund a sum of Rs 2.57 lakh to Janu alias Jan Mohd, whose financed heavy transport vehicle was taken away by recovery agents after he defaulted in loan repayment.

"Loan agreement or even hypothecation contracts are contracts of civil nature and any right to any party...has to be enforced through legal process and not through use of force and coercion," the Commission said.

Referring to various judgements of the Supreme Court and National Consumer Commission, it said finance companies cannot be allowed to be a judge of their own cause.

Upholding the district forum's order, the Commission also enhanced the compensation from Rs 10,000 to Rs 50,000.

Janu had bought the vehicle in June, 2003 after a loan of Rs 6.56 lakh was sanctioned to him. The loan was to be repaid in 37 EMIs but he had defaulted after paying Rs 4.07 lakh till April, 2005. The finance company had got the vehicle lifted in July, 2005.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions