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Tag: dispute

  • HDFC customer seeks justice over credit card dispute

    HDFC customer seeks justice over credit card dispute

    The failure of the bank to bring clarity to the matter and suddenly decide to debit the savings account with a huge amount of interest is a deficiency of service as well as a malpractice which affects lakhs of customers on a daily basis….reports Asian Lite News

    HDFC Bank took Rs 56,763 from a customer’s account in an unauthorised manner to settle alleged debt on a credit card which was neither requested nor used.

    This episode occurred at the HDFC Gurguram branch where the bank issued a credit card to a customer (name withheld) which was received but never used.

    In 2015-16, the bank started sending bills of Rs 14,500 for a card which was never requested but received and not used. When the customer enquired there was no response.

    When the customer approached the branch manager, he was asked to destroy the card and send it to the Chennai office which he did in his presence. However, to his chagrin the customer continued to receive credit card statements. The harassed customer then started writing mails to Aditya Puri, then chairman of the bank. While these mails were acknowledged there was no closure in the matter. The follow ups were constant on the pry of the customer but all to no avail. The bank started harassing the customer again in 2021 when the customer’s employer was called for credit card bills.

    PIC CREDITS ANI

    The bank then sent a legal notice for the credit card. The same customer also had a HDFC Standard Life policy and when the amount matured, HDFC Bank debited Rs 56,763 from the bank account in lieu of the credit card bills.

    The bank is not permitted by RBI guidelines to hold money from the savings account to pay for this debt. This debt arose from a credit card and should have been treated as a separate issue. What is worse is that as part of the redemption process a cancelled cheque of Kotak Mahindra Bank was provided, HDFC Life continuously delayed the settlement saying it had not received the mail. When after repeated entreaties the amount was credited into the said account, said money evaporated.

    The bank has not provided any statement of transactions and cash memo which is actually signed by the bank customer or any document which proves that the credit card was requested or used.

    The Credit card is a Prepayment Plan Instrument and requires the bank to make sure that if instrument is issued it should be in possession of the rightful owner and not some frivolous record in the database. The card/instrument was received but disputed from the outset by the rightful owner.

    The Bank and the collection agencies have made several attempts to call and harass the client which has been put on record. The recorded emails show that repeatedly a clarity was requested from the bank to show how the credit card was even used by the client. The bank has fled from its responsibility.

    There is no record that the request was made for such a credit card. The credit card is not showing on the HDFC portal and no data is available to even challenge the claim. The bank has prevented the client from genuine information in order to bring clarification to the matter and has left the client to the scrutiny and illegal practice of various collection agencies.

    The matter arose at HDFC Gurugram branch but the office to pursue the matter was addressed in Chennai for no specific reason. This was done to make it inaccessible for the client to clarify the issue. That the client repeatedly visited the Gurugram Branch to clarify the matter but the whole matter was denied without providing any justification since 2014.

    As per RBI guidelines banks have a restricted access to exercise their right to lien. The bank cannot exercise a lien over a personal account of a customer. According to guidelines a credit card account is always separate from since a person acts in a different capacity than his understanding of the savings account.

    The failure of the bank to bring clarity to the matter and suddenly decide to debit the savings account with a huge amount of interest is a deficiency of service as well as a malpractice which affects lakhs of customers on a daily basis.

    ALSO READ: Hidden forex fee: Nearly Rs 97bn looted from Indians

  • ‘Sunak’s in-laws face £5.5m demand in Amazon India tax dispute’

    ‘Sunak’s in-laws face £5.5m demand in Amazon India tax dispute’

    The emergence of case follows small traders claim they are being squeezed out of business by the multinational’s selling practices and that the US retailer’s 1 billion-pound-a-year venture with the chancellor’s father-in-law…reports Asian Lite News

    A joint venture between UK Chancellor Rishi Sunak’s billionaire in-laws and the internet retailing giant Amazon is in a multimillion-pound dispute with the Indian tax authorities, a Guardian investigation has found.

    The disclosure adds to the list of legal battles currently involving the joint venture, following news on Friday that India’s competition commission has been given permission to relaunch an investigation into Amazon.

    The Guardian reported that small traders claim they are being squeezed out of business by the multinational’s selling practices and that the US retailer’s 1 billion-pound-a-year venture with the chancellor’s father-in-law, the technology entrepreneur NR Narayana Murthy, could be bypassing Indian foreign ownership rules.

    N R Narayana Murthy(Wikipedia)

    Amazon says it is operating in full compliance with local laws.

    The emergence of the tax case follows last week’s G7 discussions, when the finance ministers of the world’s largest economies agreed a global deal designed to make tech companies pay more tax.

    ALSO READ: Sunak warns of taxing times ahead

    In India, foreign companies are banned from running an online retailer that holds inventory and then sells the goods directly to Indian consumers online. So, instead, the Amazon.in website is run as a “marketplace”, with Indian retailers selling their products via the site in return for a fee to the US giant, the report said.

    One of the largest sellers on Amazon.in is a company called Cloudtail, a business indirectly 76 per cent — owned by an investment firm controlled by the Murthy family. The remaining quarter of Cloudtail is owned by Amazon.

    An analysis of the company’s accounts and activities by the Guardian shows that Cloudtail: faces a 5.5 million pound demand — including “interest and penalties” — from India’s tax authorities has paid “meagre” taxes over the past four years, while using a business model described as Amazon “on steroids” has filled its top two posts — chief executive and finance director — with Amazon executives, while Cloudtail’s holding company, Prione, has also been run by former Amazon managers.

    Cloudtail’s most recent accounts state: “The company has received a show cause notice in the current year from Directorate General of Goods and Service Tax Intelligence amounting to Rs 5,455 lakh (5.5 million pound) along with interest and penalties for service tax-related matters.”

    It is not known precisely what the tax dispute is about. The company said it was contesting the bill, and added: “Since this matter is sub judice, we are unable to comment any further.”

    ALSO READ: UK calls EU view of Northern Ireland ‘offensive’

  • India, China agree to resolve outstanding issues

    India, China agree to resolve outstanding issues

    Talks held for complete disengagement along the Line of Actual Control (LAC) in Eastern Ladakh, paving way for complete de-escalation, reports Asian Lite News

    https://www.youtube.com/watch?v=lkjhDuCUytI

    India and China have agreed to resolve the outstanding issues aimed at disengagement along the Line of Actual Control (LAC) in Eastern Ladakh, thereby paving the way for complete de-escalation, the Indian government has said.

    “The two sides agreed on the need to resolve the outstanding issues in an expeditious manner in accordance with the existing agreements and protocols,” a government statement said.

    Talks between Indian and Chinese military delegates were held at Chushul on Friday to discuss the next phase of disengagement in Eastern Ladakh, which lasted for 13 hours.

    “The military dialogue is still on and it is important that before the onset of summer de-escalation takes place at Line of Actual Control (LAC). Both sides need retreat to original positions for things to ease,” said a senior Indian Army officer.

    The build-up in Depsang was not being considered as part of the current stand-off that started in May 2020 as escalations here took place in 2013, India has insisted during recent military commander meetings to resolve all issues across the LAC.

    On February 20, Indian and Chinese military held the 10th round of military dialogue to deescalate tension at the LAC.

    So far, the disengagement process at both banks of the Pangong Lake has taken place.

    It was on February 10 that China made an announcement that New Delhi and Beijing had agreed to disengage at Pangong Lake.

    As per the agreement, Chinese troops moved back to Finger 8 and Indian troops pulled back to the Dhan Singh Thapa post between Finger 2 and 3 of the north bank of Pangong Lake.

    Also read:Indian Army chief in B’desh to boost ties

    A temporary moratorium on military activities, including patrolling to the traditional areas.

    The mountain spur jutting into the lake is referred to as Finger in military parlance. The north bank of the lake is divided into 8 Fingers. Indian has claimed its territory till Finger 8 and China dispute it claims till Finger 4. India and China are engaged in a year long stand-off at the LAC.

    The confrontations began on the north bank of Pangong Lakeas Chinese incursions increased in May last year.

    The 11th round of Corps Commander-level talks at Chushul took place after a nearly two-month gap. The Indian military delegation was led by Lieutenant General P.G.K. Menon, the Commander of 14 Corps based in Leh.

    The two sides had a detailed exchange of views for the resolution of the remaining issues related to disengagement along the LAC.

    “It is also highlighted that completion of disengagement in other areas would pave the way for the two sides to consider de-escalation of forces and ensure full restoration of peace and tranquility and enable progress in bilateral relations,” the statement said.

    As the India-China military tussle completes almost a year, tensions remain along the borders, even after the successful disengagement process in Pangong Lake. Tanks and troops from both sides have pulled back and there is no eyeball-to-eyeball confrontation, but the build up across Eastern Ladakh continues.

    After the recent talks, the two sides agreed that it is important to take guidance from the consensus of their leaders, continue their communication and dialogue and work towards a mutually acceptable resolution of the remaining issues at the earliest.

    They also agreed to jointly maintain stability on the ground, avoid any new incidents and jointly maintain peace in the border areas, the statement said.

    India and China are engaged in a year-long standoff along the LAC. The confrontations began on the north bank of Pangong Lake, both in the waters and on the banks, as Chinese incursions increased in early May last year.

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