"Supreme Court Says: Bank's Recovery Agents are a Group of Thugs"

"Supreme Court Says: Bank's Recovery Agents are a Group of Thugs"

 

UV INDIA NEWS: The Supreme Court has called a bank's recovery agent firm a "group of thugs." The court stated that despite the loan amount being fully settled, the recovery firm hired by the bank did not return the seized vehicle to the individual. The court directed the Bengal Police to file charges against the company within two months.

The bench, comprising Justice Suryakant and Justice Ujjal Bhuyan, also directed compensation to the petitioner, Debashish Bosu Roy Chowdhury. The bench ordered Bank of India's recovery agent to pay the compensation amount. Debashish had taken a loan of ₹15.15 lakh from the bank to operate a bus in Kolkata. In its order, the bench observed that based on the comments made by the High Court and the petitioner's arguments, it seems the recovery agent is essentially a group of thugs that use their influence to harass loan borrowers on behalf of the bank.

The firm's actions, on the bank's instructions, led to the seizure of Debashish's bus. However, even after a settlement between the bank and Chowdhury, the bus was not returned in good condition. The bus was returned in poor condition, prompting the filing of a preliminary case against the recovery agent firm, Messrs City Investigation and Detective.