We have Credit Information Bureau (India) Ltd., where credit ratings are shown. Some times it so happens that an individual would not have paid a meager amount towards a transaction because he knows that the said amount was unjust and illegal. After years, neither of the parties pursue the event, when he applies for some loan he would be surprised to find that he is an offender because of this faux paus. Rating that individual as an offender because of such a transaction would be wholly unjustified. But has an individual any right against this, other than payment of the said amount? This happened to a friend of mine when he was shown as an offender for a mere Rs.400/- when loans worth lakhs of rupees have been repaid by him. So why is it that Limitation Act is not applied for such credit ratings?
