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PJANARDHANA REDDY (ADVOCATE & DIRECTOR)     02 August 2011

Cibil-credit card sufferers good news

HI LEAREND CIBIL-CREDIT CARD SUFFERERS HERE IS THE GOOD NEWS FROM ANDHRAPRADESH-

PLEASE GO THROUGH THE ATTACHED INTERIM DIRECTIONS:



Learning

 4 Replies

sripartha (advocate )     02 August 2011

what is the good news in that interim orders sir, kindly enlighten me.

V. VASUDEVAN (LEGAL COUNSEL)     02 August 2011

Thanks you, Sir, It is indeed a breaking development in the right direction. Many honest citizens, are impacted by the arbitaray conduct of CIBIL and the bankers using the CIBIL for arm twisting. A reputed bank like American Express Bank, solicited application and then declined to issue credit card citing a defunct CIBIL report..

Vasudevan

Kumar Doab (FIN)     03 August 2011

The CIBIL is certainly being used as an arm twisting exercise. It is known that one law or rule may be passed for consumer and the companies get busy to find out the tactics to circumvent. Which other business fetches 3.75%/pm on daily compounding basis+ penalties+ GST

This may prove to be a land mark judgment providing relief to hapless customers. Courts have delivered path breaking judgments loaded with common sense.

The customer can ask the issuing company to supply by registered post/speed post.  the credit report by apying a sum of Rs.50/. The report shall state the name of the company reporting the customer to CIBIL.The same report from CIBIL shall cost >4 times.

Naveen Kumar (service)     24 April 2015

Janardhana Reddy Sir,

In the said attached petition only the 3rd petition has seek time and case is adjourned for 8 weeks.  Can you know any further development in the said case, i mean what is the final order.

Thanking you


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