By PATNA: The Patna high court has actually held that strong seizure of automobiles from owners who default on loans, through musclemen, is large offense of the basic right to life and income as ensured by the Constitution which such bullying actions bring in accommodations of FIRs.
The court observed that lorry loans need to be recuperated by following arrangements of securitisation that empower banks and comparable banks to recuperate uncollectable bills by getting physical ownership of the mortgaged residential or commercial properties of defaulting customers with the help of the district administration and getting them auctioned in order to impose their security interest.
A single bench of Justice Rajeev
Ranjan
Prasad, while getting rid of a batch of writ petitions, berated banks and financing business that rope in musclemen to powerfully take hypothecated lorries (even at gunpoint). The court directed all authorities superintendents in Bihar to guarantee that no lorry is taken powerfully by any healing representative.
The court passed the judgment on May 19 while hearing 5 cases of strong seizure of cars by healing representatives. The erring banks/financial business were fined Rs 50,000 each.
In his 53-page judgment, Justice Ranjan described more than 25 choices of the
Supreme Court
and likewise one by South Africa’s peak court, and held that the high court can hear a writ petition against any “personal star” whose actions under the “federal government’s nose deny a resident of his essential right to life and income as imagined under Article 21 of the Constitution”.
