Namakkal DCDRC directs IOB to pay ₹5 lakh compensation
1 day, 14 hours ago

Namakkal DCDRC directs IOB to pay ₹5 lakh compensation

The Hindu  

The Namakkal District Consumer Disputes Redressal Commission directed Indian Overseas Bank to pay ₹5 lakh in compensation for transferring the loan for recovery to a private company even after the loan was repaid by its customer on Tuesday. In 2017, the IOB filed a case at the Civil Court to recover the loan, following which Anu Prasad and Manoharan approached the bank and paid the loan in a single payment after negotiation. However, the bank allegedly did not withdraw the case, and in September 2019, the civil court ordered Anu Prasad and Manoharan to pay ₹5.16 lakh to the bank. Based on the documents and evidence produced before the DCDRC, its Commissioner V. Ramaraj directed the IOB to pay ₹5 lakh compensation to the petitioner for mental agony and directed it to give a letter to the petitioner stating that it was the bank’s mistake to transfer the debts to ARC after issuing an NOC within four weeks.

Bank Pay Loan Lakh Arc Iob Manoharan Dcdrc  arc  iob  directed  loan  compensation  bank  prasad  pay  dcdrc  case  directs  namakkal  lakh

History of this topic

Namakkal DCDRC directs car company to provide new vehicle to customer
2 days, 18 hours ago

Namakkal DCDRC directs car company to provide new vehicle to customer

The Hindu  

The Namakkal District Consumer Disputes Redressal Commission directed a car company to provide a new car with ₹3 lakh compensation for a customer for selling a car with manufacturing defects. A.G. Saravanakumar, a resident of Thottiyapatti near Rasipuram, bought a new car by paying ₹20.03 lakh in a showroom in Namakkal in October 2020. Investigating the case, DCDRC commissioner V. …

Namakkal DCDRC directs finance company to return property documents and pay ₹5 lakh as compensation
5 months ago

Namakkal DCDRC directs finance company to return property documents and pay ₹5 lakh as compensation

The Hindu  

The Namakkal District Consumer Disputes Redressal Commission ordered a financing company to return the original land documents of an 82-year-old farmer, P. Thangavel, and pay ₹5 lakh in compensation. After settling the loan as per a court order in 2004, the company promised to return his documents within a month but failed to do so. In 2016, when he decided …

IOB Manager in Tamil Nadu Who Said 'Hindi Must for Loan' Transferred
4 years, 3 months ago

IOB Manager in Tamil Nadu Who Said 'Hindi Must for Loan' Transferred

News 18  

At a time when major political parties in Tamil Nadu allege that the Central government is imposing Hindi, a doctor in Ariyalur district alleged that he was denied a loan by the Indian Overseas Bank Manager ‘for not knowing the North Indian language’. According to Balasubramanian, he was a customer of the IOB for a long time and had approached …

Indiabulls Moves Delhi HC Against SIDBI, Says Loan Installments Can't Be Demanded In Light of Moratorium Imposed by RBI [Read Order]
4 years, 9 months ago

Indiabulls Moves Delhi HC Against SIDBI, Says Loan Installments Can't Be Demanded In Light of Moratorium Imposed by RBI [Read Order]

Live Law  

Indiabulls Commercial Credit Limited has moved the Delhi High Court challenging the demands for loan installments made by Small Industries Development Bank of India. He further submitted that the loan instalment of Rs.31,94,79,453/- for the month of March was duly paid on 09.03.2020, whereafter due to the onset of the pandemic of COVID19 and the subsequent lockdown in the country, …

Discover Related