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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 5 things you should not forget while filing income tax return
 10 Easy Steps to File ITR 1 Online
 How to e-verify income tax return?
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

Banks cannot use force to recover loans: SC
July, 28th 2007
Holding that banks cannot employ force to recover loans, the Supreme Court today refused to stay an order of the consumer forum directing ABN AMRO Bank to pay Rs 71,223 to a woman whose vehicle was allegedly forcibly seized by the bank.

"But whatever, it is, you cannot employ force to recover the loan. You have to go by the law," a bench of Justices B N Aggrawal and P P Naolekar, observed, while refusing to stay or quash the order.

The bench, however, asked the complainant to file her reply on the special leave petition filed by the bank challenging the consumer forum's order.

The woman Sangeeta Srivastava had moved the district consumer forum challenging the alleged forcible seizure of her Tata Indica car by the bank for default in payment of the loan installments.

According to Sangeeta, she had availed an auto loan from the bank in 2001 and regularly paid the EMI of Rs 7,427 till July 2002. Due to financial difficulties, she claimed to have defaulted for four months to the tune of Rs 21,741.

Though she offered to make pay of the defaulted amount, the bank sent some people to her house and got the vehicle forcibly seized, the woman alleged.

The seized vehicle was, thereafter, auctioned and sold by the bank.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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