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Finance cos, banks use musclemen against defaulters
Publish Date : 2/3/2005 9:36:00 AM   Source : Onlypunjab.com Team

Certain private financial institutions, including banks, are forcibly taking possession of financed vehicles allegedly by using hired musclemen. This illegal action has allegedly been causing a lot of hardships to the customers who had failed to pay only a few instalments due to one reason or another. These recovery agencies, some of which allegedly belong to relatives of certain political leaders and senior police officials, instead of taking legal recourse snatch vehicles under the very nose of the law enforcing agencies.

The police always expresses inability and hesitates to take any action against such recovery agencies as these use the political clout of their patrons and thus manage to dodge the rule of land.

Mr Iqbal Singh Pretty, a resident of Krishna Nagar, Lawrence Road here, who had got a car (numbering PB-02-Z- 6003) financed in his wife’s name from a private bank alleged that his car was snatched by the musclemen deputed by an agency along with a policeman of the local Civil Lines Police Station.

He claimed that about Rs 95,000 in cash and other important documents, which were also lying in the car went missing after the vehicle was snatched.

Giving details of the incident which not only caused tremendous humiliation and mental torture to him he said that he was returning home from office last year when some persons snatched his vehicle. Although an inquiry on his complaint was conducted by an SP-rank officer, which clearly indicted the agency and its musclemen besides policemen for taking away the vehicle after for Mr Iqbal Singh out of the car. He also termed the action as totally illegal and urged the government not to allow the police to be used by these agencies.

He alleged that even though the police had registered a criminal case against the accused. However, no recovery had been made and he had not been informed about the whereabouts and condition of his vehicle at yet. He said life threats were being given to him by the accused.

According to sources a large number of cases of a similar nature had occurred but the victims do not report the cases out of fear of harassment.

The police to does not entertain such cases.

Dr Kashmir Singh, chief pharmacist at Sri Guru Teg Bahadur (SGTB) Hospital, who had faced similar humiliation, had won the case in the district consumer forum. However, the bank authorities never, complied with the order. He said the case was now in the state consumer court. He said more than 50 per cent of the loan amount had already been paid to the bank. He said interestingly, not a single cheque had bounced or had been cancelled.

Mr R.P.S. Brar, district police chief admitted that the forcible repossession was illegal. He said although a case had been registered at Civil Lines Police Station, he did not have any other such complaints. He assured that he would take necessary action if he got any such complaint.




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