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Recovery agents thrash loan defaulter




In yet another incident illustrating the high-handedness employed by recovery agents as well as the non-application of responsibility by financial institutions, a citizen was beaten up by recovery agents such that he suffered major injuries. This was a man who bought a 3-wheeler in Kolkata, and took a loan for the same. After paying the loan money for some months, he still had not been delivered the insurance papers (and that was his right), and so he refused to pay more of the loan until his insurance papers were delivered. And that must have been his mistake, since no insurance papers were given to him, but instead recovery agents were dispatched who proceeded to beat him and then recovered the vehicle by force:

Dilip Senapati, a 40-year-old transporter, was forced into a car and taken to a garage in Serampore, where he was beaten up mercilessly. His unconscious body was later dumped on the highway near Dhulagarh. Local people took him to hospital.
In August, nine months after purchasing the vehicle, when Senapati did not get his insurance papers from the dealer, he informed them that he would not pay until he got his papers. But Senapati never heard from the dealer since. On Thursday morning, Senapati was called out of his home by four men. He was then shoved into an Ambassador and driven off to Serampore. All the while, he was punched and kicked. “They kept asking me where I had parked my vehicle. When I told them that it was parked near the Amta petrol pump, one of them got down to seize my three-wheeler,” said Senapati.

No matter what the circumstances, a bank or financial institution is not allowed to use strong-arm tactics or force to recover a loan. The courts have consistently held that such recovery has to be through the legal process, and are slowly starting to move to a position where they are starting to hold officials of the financial institution liable. This is a good step, since it is only when people start to feel personally liable do they become more legal aware.




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