Legal Question in Banking Law in India

Money withdrawn from the blocked ICICI credit card

After I lost my ICICI credit card

(CC), I blocked it by calling to

customer care on 10- Aug-07 at

8:47pm. Even after blocking the CC

the transaction of Rs.19000 was

made at 10-Aug-07 at around

11pm. I launched the grievance to

the ICICI for same. As per the

investigation done by bank, it was

found that swap was done by Mr.

Junaid and Rs.15000 was

recovered from same. As

investigation got completed, the

case was closed against me and as

per the statement I need to pay

rest of Rs4000. I asked from bank

about this, but they told me that I

need to pay this money. Now after

nearly 1.9 years they have blocked

Rs. 8,917(4000+taxes) from ICICI

Saving account saying that:

1)This is my CC outstanding (Rs

4000 + taxes + late fee fine)

2)As per the law they can block

money from Saving account for the

Credit card recovery.

Please help me & let me know:

1)Whether ICICI can block my

saving account money?

2)The money has been withdrawn

from the blocked card, so to whom I

should launch the grievance r what

I should do?

4 Answers from Attorneys

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