NEW DELHI: Taking a serious view on the use of muscle power by banks and financial institutions for recovering loans, the Supreme Court on Friday observed that they cannot engage " goondas " to harass people.
There is a rule of law that must be adhered to by banks while recovering loans, the apex court said. It was hearing an ICICI Bank appeal seeking removal of certain observations by the Delhi High Court while ruling on the case of a defaulter who had allegedly committed suicide due to harassment by banks.
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Saturday, September 22, 2007
Banks must end goondagardi: SC
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