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 RATES :: form 3cd :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

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 2017 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