Legal Question in Banking Law in India

Collection

Is it legal for bank to demand for money at the doorstep for a personal loan or credit card payment.


Asked on 10/02/07, 8:47 pm

6 Answers from Attorneys
G. M. Gupta gmguptaandassociates

Re: Collection

its absolutely ILLEGAL. you have lots of options to proceed against them

you can file both civil and criminal cases

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Answered on 10/03/07, 4:30 am
Vijay Chandavale Advocate Vijay Chandavale & Associates

Re: Collection

Please go through recent supreme court judgment . It is not permissible to engage such Recovery Agents

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Answered on 10/12/07, 11:56 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Collection

It is illegal. You can take criminal actions or of the civil nature against them.

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Answered on 10/03/07, 5:47 am
Amit Shukla AS and Associates Legal Services

Re: Collection

It is illegal and you can file a criminal or civil suit against him.Hon'ble Supreme Court gave a mile stone decision and directions on it.

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Answered on 10/04/07, 10:37 am
J. Radhakrishnan independent Practice

Re: Collection

It is absolutely legal for a Bank or for that matter any creditor to demand payment of a debt or other dues at the doorstep of the debtor. But it should not take the form of use of force or any other coercive steps.

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Answered on 10/09/07, 7:29 am

Re: Collection

Demand of money is not illegal but if any unfair method like threat etc. then the same is illegal as heald by HC/SC in various cases.

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Answered on 10/04/07, 7:58 am


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