ICICI Bank - Credit Card Division
Human rights violation!

HYDERABAD/India: Guidelines by the Supreme Court of India against employing third degree methods by finance companies for recovery of dues notwithstanding, Andhra Pradesh (a state of India) recorded what could perhaps be the first case of a death due to alleged torture by recovery agents.

Elite Financial Services, a firm having a tie-up with ICICI Bank India for recovering “bad debts” found itself in a soup after a 42-year-old man, who had taken a loan of Rs 15, 000 (approximately 300 dollars) and failed to repay it, died while in their “custody” on Friday.

While the police are awaiting a post-morterm report on the death of the victim - Yadaiah - a case of “wrongful confinement” and “culpable homicide not amounting to murder” has been registered against the firm, located at Ameerpet in the Hyderabad city.

Yadaiah's wife, Sunanda, however alleged that her husband was tortured to death. The victim was a resident of Yapral in Ranga reddy district in Andhra pradesh/India.

According to Punjagutta Inspector G Narasaiah, Yadaiah, working as an electrician in the State Government of Andhra pradesh- Medical and Health Sciences department, had taken a loan of Rs 15, 000 from ICICI bank India/Hyderabad sometime ago.

After he failed to repay the loan, the ICICI bank, terming him a defaulter, handed over the “case” to Elite financial services. “This company has a tie-up with ICICI Bank for recovering dues, ” the inspector said.

On Friday morning, around 9 am, one of the executives from Elite, Raju, descended on the house of Yadaiah. As Yadaiah was away for work, Raju questioned Sunanda as to why the payment was not made and then took her husband's photograph.

Later, the executive along with his henchmen, allegedly picked up Yadaiah from his office in Sultan Bazar and drove him straight to their office.

Around 12.30 pm,

Yadaiah called up his wife and told her to arrange Rs 15, 000 at any cost. According to Sunanda's version, Yadaiah sounded scared, and asked her to arrange for the money immediately.

“He said that he would not be allowed to leave if he failed to return the money and hung up, ” Sunanda told the police.

Around 2 pm, Sunanda received a telephone call from Maitri hospital in Sanjeevareddy Nagar that her husband was dead.

“The version of Elite employees is that he collapsed due to fits in their office and died after being shifted to the hospital. There is only one injury on his forehead. We are awaiting the post-mortem report, ” the Inspector said.

Based on a complaint by Sunanda, the police registered cases against Raju and the management of Elite Financial Services. “If it turns out to be a case of murder, the section will be altered accordingly, ” Narasaiah said. Yadaiah had two sons and a daughter.

SEE, HOW MUCH A HUMAN RIGHT HAS BEEN VIOLATED IN THESE LIKE BANKING PROCESS. A FAMILY HAS LOST HIS BREAD-WINNING MEMBER. A WIFE HAS LOST HER BELOVED HUSBAND, AND THE KIDS, THE BELOVED FATHER FOR SAKE OF MERE Rs.15, 000!!

WHAT A SHAME!!

Company: ICICI Bank - Credit Card Division
Country: India

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