Disputed transaction: Bank to pay for purchases made on lost credit card
The disputed credit card transaction had taken place after poject consultant Supnekar misplaced his credit card in October 2004. He noticed at least seven disputed entries in the bank statement that he received in November. The bank reduced his credit limit from Rs 2 lakh to Rs one lakh and later withdrew the credit facility.
When he contacted the bank, he was asked to fill up the disputes declaration form. “The bank officials had said they would not charge interest unless the dispute is resolved. However, later the bank asked me to pay Rs 22,068 with interest on the disputed amount of Rs 14,889. I even started getting late night calls from their recovery agents forcing me to pay the amount,” he said. Unable to deal with pressure, Supnekar paid this amount on July 16, 2005 and approached the Pune district consumer court.
“Our argument was that it is bank’s responsibility to verify signature on the credit card slip with the specimen signature. When the card was misused and signed by a third person, his signature did not match the specimen signature. Had
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