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Old 23rd March 2007, 12:04   #1
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Default ICICI goons thrash loan defaulters friend

The guy has put a 47 lakhs claim for the trauma in consumer court.
Looks like this time ICICI is really in soup.
Goons batter defaulter's friend-Delhi-Cities-NEWS-The Times of India
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NEW DELHI: In an incident of alleged forcible and violent repossession of a financed car, an east Delhi resident has moved the State Consumer Commission seeking compensation and punitive damages of Rs 47 lakh for use of goons by ICICI Bank.

The goons allegedly battered a person sitting in the car with an iron rod the victim needed 12 stitches on the head and dragged him on to the road when he tried to resist by clinging to the Swift car's door.

Commission president Justice J D Kapoor has issued notice to the managing director of ICICI bank K V Kamath and the collection manager of the bank to explain the bank's conduct relating to the allegations made by one Tapan Bose. The officials have been asked to appear in person on April 19.

"We have observed and so has the Supreme Court that merely because the bank has the right to re-possess the vehicle for non-payment of installment does not mean that it can repossess it in the manner in which no civilised society can brook," said Justice Kapoor, issuing the notice to the Bank.

"We have observed that hire-purchase contract is a civil contract and, therefore, has to be executed or affected through civil remedy (after an order from a civil court)," said Justice Kapoor.

Denying the allegations, an ICICI Bank's spokesperson told TOI: "We are aware of the notice and we will contest the allegations before the Commission. These allegations are not correct."

Bose, a construction contractor who had taken a loan of Rs 3.4 lakh in May 2005, said in his complaint that the car was parked at the DDCA Club, Kotla, on January 8 and his friend, Vinod, was sitting in the car when he was attacked by the goons who said the Bank had sent them.

Bose alleged that Vinod was also robbed of his gold chain and his jacket, which had an amount of Rs 200 and a driving licence.

Bose has also filed a separate criminal complaint with the police. According to an FIR registered by IP Estate Police, the car (DL 2C P 4390) was allegedly recovered from the Bank's godown in west Delhi. The police have registered a case under section 308 (attempt to commit culpable homicide) of IPC.
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Old 23rd March 2007, 12:06   #2
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The good thing about all this is that the Court has ordered the car to be returned to the gentleman.......ICICI really ought to be taken to the cleaners
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Old 23rd March 2007, 12:09   #3
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This is bad...hope that the person gets Justice...
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Old 23rd March 2007, 12:13   #4
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Down with ICICI!!!! Bloody bunch of losers!

This is not the first time, such a thing has happened. From my personal experience, they are not honest in their workings. I have since, decided to not deal with this bank ever.

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Old 23rd March 2007, 12:15   #5
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Deplorable! First CitiBank, now ICICI. Wonder which bank is going to show their true colours next!
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Old 23rd March 2007, 12:15   #6
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If you read newspaper reports, there are several cases of illegal repossession. However, this one takes the cake. If the report is true, ICICI and their recovery agency ought to pay heavy.
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Old 23rd March 2007, 12:17   #7
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Person gets justice if there is iota of truth in it and banks learn a sound lesson .
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Old 23rd March 2007, 12:19   #8
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It is this kind of public knowledge that should make people shy away from private banks and deal primarily with nationalized banks.
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Old 23rd March 2007, 12:23   #9
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Quote:
Originally Posted by shuvd View Post
Wonder which bank is going to show their true colours next!
Ummm, how about ABN Amro???

Just took the pants off one of their Corporate guys because they'd levied finance charges on my Gold Card due to some bungling at their end; after two weeks of not responding, they finally told me this morning that my request for reversal of finance charges had been turned down. So I asked them to cancel the card immediately. That lead to this guy calling me back, apologizing & then telling me that they're converting this to a lifetime free card. Bloody bureaucratic imbeciles!
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Old 23rd March 2007, 12:26   #10
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There should be collective case against ICICI and their ilk. Massive litigations against them should be brought about.
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Old 23rd March 2007, 12:35   #11
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Sue, sue, sue. Then sue some more.

Just hope the Consumer Court has the teeth to enforce such damages. In any case, if such a figure is awarded to the complainant, the Bank will definitely go in for an appeal to the High Court.

This will take years.
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Old 23rd March 2007, 12:41   #12
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The story makes one's hair stand on the edge..I just gotta make sure that I pay my EMIs on time..God forbid if it were to happen again..

I am in the corporate banking biz but I am glad my bank is not into car loan biz ..

The bank involved & their collection agency have to pay dearly..I have followed Delhi Consumer COurt President's (JD Kapoor) judgement & I have not doubt that justice will be done in this case & affected party will get relief & heavy compensation & it will be a lesson for banks & finance companies to desist from employing goons to recover loans/hypothecated car/property..And we thought we live in a free,civilised world...

Regards
Ash

How abt PIL by Consumers,consumer forums..??

Last edited by aah78 : 30th March 2007 at 03:42. Reason: merging posts
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Old 23rd March 2007, 12:47   #13
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These kind of behaviour is shame for the whole banking sector. They should collectively go against ICICI. They should be shut down.

There was an offer from these buggers this morning. Lucky I read this. They also do very cheap marketing gimmicks. Shame shame.
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Old 23rd March 2007, 12:56   #14
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Another one from the ICICI story book. First they lure you with their so called attractive schemes and then all this happens. These malpractices and goondaism stories of the banks should be spread wide so that no one approaches them for any kind of finance

Its like 'Wwanna get yourself smashed? Hum hai na'

I hope this guy getes justice and soon. This one was way over the top.
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Old 23rd March 2007, 13:08   #15
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Absoultely abhorrent and disgusting,big shame on the part of ICICI . How on earth can these morons get into such barbaric acts? Hope the consumer court settles this soon and ICICI is taken to task if this news is true. Wish that our law will consider this incident seriously and make it an eye opener for the other inferior privatized banks that we have.

Last edited by rjstyles69 : 23rd March 2007 at 13:09.
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