Repayment had to be made in 47 equated monthly installments (EMIs) of ₹45,600 each.
According to Singh, the vehicle had some major defects due to which he incurred losses. Consequently, his EMI payment was delayed, and he requested an extension. The bank acceded to his request and accepted part payment on November 23, 2012.
Later, 8 to 10 musclemen intercepted the vehicle at Haidargarh in Barabanki District of Uttar Pradesh on November 25, 2012, and took forcible repossession. Singh approached the bank to try to reclaim his vehicle but did not succeed. He also filed a civil suit seeking an order directing the bank to return the truck to him. Meanwhile, the bank issued a notice on the same day it took forcible repossession of the vehicle and finally sold it in March 2013. Hence, the suit was dismissed by the civil judge as it had become infructuous upon the sale of the vehicle.
Denne historien er fra November 11, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 11, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Qcom firms flouting domestic laws: CAIT
Top 3 companies got ₹54K cr FDI but used only ₹1.3K cr lawfully
AI may create 2.73 mn jobs in India by 2028
Amid intense debates over artificial intelligence (AI) and generative AI (GenAI) causing job loss going forward, a study by ServiceNow, in collaboration with Pearson, has projected that AI could actually drive employment growth, creating an estimated 2.73 million jobs in India by 2028.
Child insurance: Waiver of premium can help secure education goal
Vineet Kumar (name changed on request), a 32-year-old Faridabad-based advertising executive, is the father of a one-year-old. While he finds fatherhood fulfilling, he admits to certain anxieties. \"I do sometimes worry about what would happen to my child if I am not around,\" says Kumar.
More appetite for Swiggy than Zomato in long term
Brokerages bullish on its shares, give 'buy' rating to stock
F&O segment gets 45 additions
The stock exchanges on Wednesday announced the addition of 45 stocks in the new list of scrips eligible for trading in the futures and options (F&O) segment, including Zomato, Jio Financial, Paytm, Delhivery, and Avenue Supermarts.
Expansion, operational gains a positive for Hindalco
Consolidated net sales of Hindalco Industries stood at ₹58,200 crore, up 7 per cent year on year (Y-o-Y) and 2 per cent quarter on quarter (Q-o-Q) in the second quarter of the current financial year (Q2FY25), with better realisations and efficiencies in India.
Market regulator bats for easing angel fund norms
Market regulator Securities and Exchange Board of India (Sebi) may soon allow angel funds to expand the scope of investors by including Hindu undivided families (HUFs), family trusts, and sole proprietorships, among others.
Sebi takes up review of custodian norms
Capital market regulator Securities and Exchange Board of India (Sebi) has proposed measures to ease operations and compliance by custodians — entities which manage foreign portfolio investors (FPIs).
FMCG sector's defensive cloak feels tear of market forces
The fast-moving consumer goods (FMCG) sector is losing its status as a defensive sector.
Sebi mulls action for lapses in AI usage
The Securities and Exchange Board of India (Sebi) on Wednesday proposed norms to specify responsibilities on its registered entities like mutual funds, stock brokers and market infrastructure institutions (MIIs) for the use of artificial intelligence (AI) and machine learning (ML) tools.
