₹85 Lakh Compensation Set Aside in Cheque Bounce, Loan Default and Vehicle Repossession Dispute: NCDRC
The National Consumer Disputes Redressal Commission (NCDRC) delivered a significant judgment in Cholamandalam Investment and Finance Company Limited VERSUS Smt. Savita and Another, dealing with a dispute under the Consumer Protection Act, 2019 arising from alleged illegal repossession of a financed vehicle and excessive compensation awarded by lower consumer fora. Background of the loan transaction The case concerned a financial agreement where the complainant, Smt. Savita, had taken a loan…
