In a stern move on Friday, the Supreme Court directed action against a recovery agent firm for failing to return a vehicle even after the loan was fully repaid. The court has ordered the West Bengal government to file a charge sheet within two months against the recovery agent firm, while also mandating compensation for the victim, the vehicle owner.
Labeling the recovery agent firm associated with a bank as a ‘gang of goons’, the bench, comprising Justices Suryakant and Ujjwal Bhuiyan, instructed the West Bengal Police to proceed with criminal charges against the firm. The firm had refused to return a seized vehicle to its owner, Debashish Bose Roy Chowdhury, even after he had settled his loan amount of ₹15.15 lakhs, taken to purchase a bus.
The Supreme Court highlighted the misuse of power by the recovery agents, noting their intimidation tactics against borrowers. The justices observed that despite clearing the debt, the recovery agents not only withheld the vehicle but returned it in a damaged state, with altered chassis and engine numbers. This prompted a First Information Report (FIR) against M/s City Investigation and Detective under IPC Sections 406, 420, and 471 at the Sodpur police station in West Bengal last year.
The bench further instructed the Bank of India to ensure the recovery of funds from the agent firm, emphasizing the need for a speedy and logical conclusion to the case within the stipulated two-month period.
