Query about consumer law
Ashok
(Querist) 04 April 2013
This query is : Resolved
Dear sir(s),
I had taken a cash credit(working capital) loan from Axis Bank Ltd.and now i have moved a complain against bank for debiting unlawful charges which are not mentioned in the agreement with bank.
Now opposite party is challanging my status that i am not a consumer because the loan was for commercial purpose.
i have argued that i am a consumer u/s 2 (1) (d)(ii) because i have taken the loan for earning my livelihood by means of self employment.
Now i want to know about the case laws in this respect so that i can prove myself a consumer.
please help me.
Nadeem Qureshi
(Expert) 04 April 2013
Dear Ashok
case law is a matter of research, Contact a lawyer or search your self
Adv k . mahesh
(Expert) 04 April 2013
go through indian kanoon website you will get
prabhakar singh
(Expert) 04 April 2013
Indian Banks’ Association has prepared a code, which sets standards of fair banking practices.
This document is a broad framework under which the rights of common depositors are
recognized. It is a voluntary Code that promotes competition and encourages market forces to achieve higher operating standards for the benefit of customers. The Code applies to current, savings and all other deposit accounts, collection and remittance services offered by the banks, loans and overdrafts, foreign-exchange services, card products and third party products offered by banks.
Find it out.It may serve your purpose.
ajay sethi
(Expert) 04 April 2013
you ought to have complained to the ombudsman rather than movingg consumer forum . for judgements visit indian kanoon website
prabhakar singh
(Expert) 04 April 2013
But as you state " i have moved a complaint against bank for debiting unlawful charges which are not mentioned in the agreement with bank."
Then in my opinion an increase in charges levied by a bank for its services does not fall within the provisions of the Consumer Protection Act.
prabhakar singh
(Expert) 04 April 2013
Visit also the following site:
http://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=171
Devajyoti Barman
(Expert) 04 April 2013
If the loan was taken for earning livelihood by professional means then you are indeed a consumer.
Devajyoti Barman
(Expert) 04 April 2013
There are many citation in this respect. Please make some labour to find those out.
