Delhi High Court quashes ‘Fraud’ classification of borrower, citing lack of due process, ET LegalWorld
The Delhi High Court has held that the classification of a borrower’s account as “fraud” has serious consequences since such classification would prevent the borrower from accessing institutional finance for running their business. The court observed that there is no gainsaying that the civil consequences jeopardize the future of the business of the borrower, and […]
Bengaluru Loan Firm Fined Rs 1.3L for Withholding Property Documents from Borrower, ET LegalWorld
A housing finance company that failed to return the title deed and other documents pertaining to a site to a Bengalurean, though he had repaid the loan, was recently ordered by a consumer court to give him back all the papers and also pay him over Rs 1.3 lakh as compensation. C Sathyanathan, 58, a […]