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: list of goods taxed at 4% :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: due date for vat payment :: cpt :: form 3cd
 
 
News Headlines »
 What to do if you get an income tax notice after demonetisation
 SBI calls for raising income tax exemption limits
 Did you know? The tax exemption on your HRA
 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

Banks must end goondagardi: SC
September, 22nd 2007
Taking a serious view on the use of muscle power by banks and financial institutions for recovering loans, the Supreme Court on Friday observed that they cannot engage " goondas " to harass people.

There is a rule of law that must be adhered to by banks while recovering loans, the apex court said. It was hearing an ICICI Bank appeal seeking removal of certain observations by the Delhi High Court while ruling on the case of a defaulter who had allegedly committed suicide due to harassment by banks.

A Bench comprising Justice Tarun Chatterjee and Justice Dalveer Bhandari said though banks have a right to recover their money, they cannot engage goondas to harass people.

"There is a rule of law in this country. Banks and financial institutions are not immune from the rule of law," remarked Justice Bhandari. The court has fixed October 1 for ruling on the case.

Advocate Surat Singh, on behalf of the complainantthe mother of the deceased, said loan recovery should follow a process of law. Banks cannot be allowed to hire musclemen for the purpose, said Mr Singh.

However, ICICI Bank, through its counsel UU Lalit, sought expunging of certain observations made by the high court.

The high court had observed that the proximate cause of death (suicide) of a young man was humiliation by the bank from where he had taken loan.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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