CONSUMER COMPLAINT SBI FOR DEBITTING CASH FROM GUARANTOR

SBI to pay Rs. 20,000/- for debiting cash from account of guarantor.

Incident in Short

SBI bank had debited rupees 87,711 from the account of Mr. Sunil Kumar Wadhwa who was a guarantor against a loan of rupees 5lakh availed by Mr. Bhagwant Bhushan Walia on account of irregularity of rupee 2.33 Lakh. Point of interest here is that the bank account from which this money was debited was a joint account with two others.

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facts of Case

The facts of the cases are that the accused here is alleged by the complainant to have debited money from the account of the complainant wrongfully.

The complainant then complained against SBI which resulted in the refund of the debited amount. The complainant later moved to forum complaining of deficiency in services. But it was set aside. A result of which the complainant moved to the Consumer Disputes Redressal Commission.

Also Read- SBI fined 10k for failing to deposit pensioner’s TDS.

law on topic

The following legal topics are involved in this case:

1. Contract Act- Relationship between Guarantor and creditor.
2. Use of Unfair Trade Practice.

Your take/legal opinion/view on the story.

My take on this story is that the rejection of the complainants complain from the forum was clear violation of his rights as a guarantor and that the subsequent judgment of the Consumer Disputes Redressal Commission is correct.

Also Read- Rate of Interest in Delay in Possession

Conclusion/Ruling/Order/Decision

As of the latest news the Consumer Disputes Redressal Commission has awarded rupees 15,000 as compensation for mental agony and physical harassment and rupee 500 as litigation cost to the complainant.

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This post is written by Ashwin Singh.

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