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Supreme Court Of India

(From : Allahabad)*

Hon'ble Judge(s): Ar. Lakshmanan, Altamas Kabir , JJ

Recovery of Debts Due to Banks and Financial Institutions Act (51 of 1993) , S.25— Bank loan - Recovery - To be made through legal means and not by hiring recovery agents, musclemen. Constitution of India , Art.300A— Per Dr. AR. Lakshmanan, J. :- The recovery of Bank loans or seizure of vehicles could be done only through legal means. The Banks cannot employ goondas to take possession by force.(Para 2) Per Altamas Kabir, J. :- The procedure adopted by the Bank in removing the vehicle from the possession of the writ petitioner-loanee cannot be appreciated. The practice of hiring recovery agents, who are musclemen, is deprecated and needs to be discouraged. The bank should resort to procedure recognised by law to take possession of vehicles in cases where the borrower may have committed default in payment of the instalments instead of taking resort to strong arm tactics.(Para 18) .....