What legal actions can private banks in India take against credit card holders in case of over dues?
It so happened that one of my cousins in Bangalore had a long going dispute with HDFC bank regarding her his credit card overdues. The dispute could never be settled and the bank kept adding interest and charges on top of the outstanding principle of Rs.9000.
That's all happened for over two years until one Monday morning he got a phone call from a police officer from Delhi saying that my cousin had a non-bailable arrest warrant against him due to the overdues with HDFC. My cousin obviously was very scared and settled the matter with the bank on the same day for an amount of Rs.19,000 [The advocate in Delhi demanded Rs.38000 for the bank].
My question is, does a bank have enough legal allowances to set off non-bailable arrest warrants in such cases? Can someone please throw light upon this?
The telephone call your cousin received was a fake one. No bank can resort to a police complaint as default to pay credit card dues is not a criminal offence. At best, the bank can file a civil suit to recover its dues.
As per the recent directives issued by the RBI, the banks should not adopt coercive methods of recovery.
If your cousin has valid and justifiable grounds for not paying the money to HDFC, he/she can file a suit against the bank to get back the money. He/she can also implead the person from whom the phone call was received in the suit for wrongful and misleading representation and for causing mental distress and financial loss.
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