Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Arun Agrawal (Business Consultant)     15 January 2011


Dear all :

How can MNC Banks recover outstandings from card holders in respect of charges incurred by them against such cards issued to them  and which will be the courts of jurisdiction ?


 2 Replies

radha (freelancer)     25 March 2011

If  you have saving/FD/salary  account in the same bank( in any city) , the bank may recover the amount by debiting from your  account.

Banks have a bad history of issuing a notice for debit reaching the customer after the date of debit or not issuiing anotice or notice not reaching at all.

You may close all accounts in the same bank.

Bank may issue a notice to you to pay up, or file a summary suite, or lodge a complaint in lok adalat, or file for arbiteration proceedings if there is any clause.

Arun Agrawal (Business Consultant)     25 March 2011

Credit Card issue/usage agreements do not carry any arbitration clause/s . However, I notice that the Banks prefer to settle such outstandings through negotiation either directly or through their authorised collection agencies instead of going in for protracted litigation .

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