It is felt from various threads that M/s Standard Chartered Bank which is a foreign bank operating In India and its agent M/s Shaha Finlease has strange relationship and their activities are beyond the level of understanding in
There are many threads on this bank and this agent.
If the bank M/s Standard Chartered Bank had an outstanding amount to be collected from you and if it has written off the amount then the matter ends.
How come a written off account is taken over by ARC/Recovery Agency.
If bank has sold the bad debt to ARC/Recovery agency then has it informed you in writing with copy of latest charge statement?
Has this agent M/s Shaha Finlease ever written to you for payments?
It is felt that the matter is hopelessly time barred for the bank.
The Regulator RBI has issued guidelines on CC operations and these are exercised on banks by RBI, Watchdog BCSBI, IBA.
These guidelines are not discretionary on the banks.
Guidelines issued by RBI are mandatory having statutory force.
RBI has issued many guidelines on CC operations and so has been issued by IBA, BCSBI……………
Code of Bank s Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank also a Guidance Note in December 2006
Then there is Bankers' Fair Practice Code.
You can of course complain to a forum of your choice.
However it shall be appropriate to approach a competent and experienced lawyer specializing in consumer matters with copies of all records and proceed under expert advise of your lawyer.
CC complaint can also be mad to;
Smt. Uma Subramaniam
Chief General Manager -in-Charge
Department of Non-Banking Supervision
Centre I, World Trade Centre, Cuffe Parade
Email id: firstname.lastname@example.org
Reserve Bank of India
Central Office Building
18th Floor, Shahid Bhagat Singh Road
You may find the following threads useful: