Loan default? Finance cos can’t send goons, HC says
The Allahabad High Court ruled that a finance company cannot seize vehicles through force or coercive tactics. A borrower reported being threatened and having his vehicle taken unlawfully…
Attributed summary
The Allahabad High Court ruled that a finance company cannot seize vehicles through force or coercive tactics. A borrower reported being threatened and having his vehicle taken unlawfully by agents for the finance firm. The court emphasized that repossession must occur through legal channels like civil courts or arbitration. It ordered the company to return the vehicle and restructure the loan without penal interest.
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