Online edition of India's National Newspaper
Wednesday, Jul 25, 2007
ePaper
Google

Citi Bank
Andhra Pradesh
News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Jobs |

Andhra Pradesh - Hyderabad Printer Friendly Page   Send this Article to a Friend

Warning against tough loan recovery methods

Staff Reporter

HYDERABAD: Banks and financial institutions using strong-arm tactics in recovering loan amounts from defaulters will be treated as committing a criminal offence, the City Civil Court Legal Services Authority informed in a press release here on Tuesday.

The Supreme Court had recently held that banks were not entitled to employ alternative means for recovering amounts other than those specified by the law.

They can further approach Lok Adalat or permanent Lok Adalat for amicable settlement of disputes with the defaulters, the release added.

Printer friendly page  
Send this article to Friends by E-Mail

Andhra Pradesh

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Jobs | Updates: Breaking News |

Dell


News Update

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Home |

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu