Manager, ICICI Bank Ltd. vs Prakash Kaur
Manager, ICICI Bank Ltd. vs Prakash Kaur - Supreme Court Case Summary of Leading Case -
On 26th February, 2007, a two Judges Bench in Manager, ICICI Bank Ltd. vs Prakash Kaur & Ors. [Criminal Appeal No. 267 of 2007] held that Banks "should resort to procedure recognized 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." Deprecating the practice of hiring recovery agents, who are musclemen", the Bench said such practice "needs to be discouraged".