Finance firm officials seize vehicle, 7 booked – Times of India

Muzaffarnagar: Seven officials, including the branch and collection manager of a finance company, have been booked for “criminal intimidation” and “cheating” after they allegedly seized a vehicle of a man for “one EMI default” in Muzaffarnagar.
Amit Jain, the complainant and a lawyer by profession, alleged that he tried to deposit the installment but the staff of the finance company did not relent and forcibly took away the vehicle that they had financed. He also accused the officers of “demanding Rs 10,000 to secure the release of the vehicle” and they “misbehaved” when he did not pay the “bribe”. SHO of New Mandi police station Pankaj Panth said, “Seven people, six of them named, from Cholamandalam Investment and Finance Company have been booked under IPC sections 420 (cheating), 504 (intentional insult) and 506 (criminal intimidation) following the court’s order on Friday. Further investigation is on and action will be taken accordingly.”
In his complaint, Jain, who is in his early 40s, stated that on February 3 his driver informed him that the vehicle had been “seized” by a recovery agent. Jain, as per his complaint, told the agent that he “did not get any notice from the company and he was ready to pay immediately if anything was pending .”
Jain also claimed that he tried to speak to the collection and branch manager. With no option left after weeks of struggle to get his vehicle back, he filed a police complaint against the company’s collection manager and six others.

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