In a recent ruling, a consumer commission addressed the distressing case of a man wrongly pursued by CapFloat Financial Services and Karur Vysya Bank for a loan he never authorized. Despite his lack of application, he faced persistent demands for repayment. After legal action and police involvement, the commission mandated the financial institutions to amend his credit history and awarded him compensation for mental distress and legal fees. In a recent ruling, a consumer commission addressed the distressing case of a man wrongly pursued by CapFloat Financial Services and Karur Vysya Bank for a loan he never authorized. Despite his lack of application, he faced persistent demands for repayment. After legal action and police involvement, the commission mandated the financial institutions to amend his credit history and awarded him compensation for mental distress and legal fees.
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Chased for Rs 30K loan he never took; commission orders CIBIL fix, Rs 35K relief
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