Karnataka - Mysore   

Row over ‘confiscation’ of tractors by bank

MYSORE: Farmers and ICICI Bank have come out with contradictory versions with regard to alleged confiscation of tractors in the past six months by the latter following non-payment of loans.

The bank had confiscated eight tractors from farmers in Nanjangud and Gundlupet taluks, in the last one month, a farmer from Nanjangud said.

The farmers have urged the district administration to direct the bank to return the vehicles to them. They said that they did not know from which bank they had taken loans, as middlemen had promised to get them loans at a low rate of interest.

The farmers said that their signatures were taken on a blank paper and tenancy certificates taken as security. Admitting that there had been delay in repayment, the farmers said that confiscation of tractors was not a solution, as it was against the Supreme Court ruling.

Karnataka Rajya Raitha Sangha secretary Badagalapura Nagendra alleged that ICICI Bank had confiscated 15 tractors in the past three months, and farmers were finding it difficult as it was sowing season.

Speaking to The Hindu, Madivannan, Senior General Manager (Customer Services), refuted the allegation that tractors had been confiscated.

The bank had not seized even a single tractor after a “bitter experience,” he said, referring to the case of a farmer from Hospura village in Nanjangud taluk who committed suicide allegedly following “arm-twisting” tactics by the bank’s recovery agents, on December 4, 2007.

Following the intervention of the district administration, the bank had returned the tractor recently and waived off his loan, Mr. Madivannan said.

Deputy Commissioner P. Manivannan said that he would direct officials to look into the matter and submit a report at the earliest.

No bank was supposed to confiscate agricultural equipment or tractors for non-payment of agricultural loan.

If the ICCI Bank had confiscated tractors from the farmers, its action was against the directive of the Supreme Court, Mr. Manivannan added.

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