I have taken a loan from a finance company and given ECS mandate for 1,00,000 EMI per month for 5th of every month. In a particular month, EMI debit was made on the regular date of 5th but on 25th of the month, another debit of 20000 was made. When I complained, they said that this is for overdue interest and other charges.
The issue is, can they debit any amount, anytime, from my account if I have given a ECS mandate for a particular amount and once a month. This means that my bank account is not in my control any more.
I feel this is " criminal" breach of trust.
My Banker says that they cannot do anything in the ECS debit process as it is an automatic process. What should I do? What is the redress?