ICICI Bank chief faces dacoity charge
31 Mar 2007
The forcible repossession of a car financed by ICICI Bank has led to charges of dacoity against KV Kamath, CEO, ICICI Bank, and seven others.
The offences under section 395 (punishment for dacoity), 120 (b) (criminal conspiracy), 29 (document) and 506 (b) (punishment for criminal intimidation) of the IPC were registered against Kamath and others after a local court directed police to do so on a complaint by a borrower.
The complainant, Praveen Deshmukh, says that he had purchased a car in 2006 after obtaining a Rs1.40-lakh loan from ICICI Bank. Deshmukh says he went to the bank to repay a delayed instalment of the loan, but the bank staff refused to accept it.
During his second visit to the bank on 13 March to attempt to repay his instalment, Deshmukh says not only was the payment turned down but a team led by Ajay Tiwari, manager, NPA, allegedly confiscated his car.
Deshmukh approached the district consumer forum on 16 March and the next day, the forum issued a notice to ICICI Bank.
On a criminal complaint filed by Deshmukh in a local court, the magistrate directed the police to register offences against Kamath, and Delhi-based senior general manager, Maninder Juneja, national collection manager, Vikrant Jethi, product head, Nahal Desai
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