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GAUTAM RAJ SINGH (Student)     16 June 2013

Credit card settlement problem

My grandpa had been offered a credit card of  Rs10,000 value of HDFC thru some agent,which he availed but during no dues process it had Rs 1200 as pending due ,which my grandpa being illiterate handed the amount to same agent and in return the agent  gave a statement of receipt on a plain paper and a cash deposit receipt(account no and amount metioned) of HDFC both without any stamp n attest by HDFC bank assuring that no due would be issued soon .But he fled with the amount without depositing in the bank and from than on(2006) till now  the due has accrued upto Rs 1.72 lakh as pending due as they kept on calculating with 2.45% monthly compounding.They are now continuously sending notices stating that a case would be filed in court regarding this issue if due is not cleared soon.Whats going to be the course of law n what should be our stand ??if my grandpa has some immovable property in his name at the address,can it be confiscated for settlement....can we file a case on our ground of being cheated by privately employed agents of bank who dint make us understand all the terms of bank clearly..and issued the credit to a person who is almost illiterate..??

Sincerely waiting for some positive responses!!!


 2 Replies

narendra.s.p (Chief Manager(Law))     19 June 2013

If Supreme Court delivers it Judgment in : "Awaz", Punita Society, "Jagrut Nagrik" and Pradeep Kumar Thakur Vs. Reserve Bank of India and Ors. III(2008)CPJ98(NC) Commission order stayed by Supreme Court, Civil Appeal no. 5273 of 2008 . It will go a long way to help all Credit Card Holders.

1 Like

Kumar Doab (FIN)     23 August 2013

Mr. Narendra.S.P has made an excellent contribution, and has enriched the forum.

Status of : Appeal Civil    5273    OF   2008


Next Date of listing is : 04/09/2013


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