Karnataka Rakshana Vedike seeks action against finance companies

CH NEWS, Vijayapura The Karnataka Rakshana Vedike has urged the district police authorities to take legal action against financial institutions allegedly harassing vehicle loan borrowers over pending instalments. The organisation said drought conditions have made it difficult for many people to support their families. Despite these hardships, some financial institutions are pressuring borrowers to pay their vehicle loan instalments. According to representatives of the organisation, even when borrowers express their willingness to clear pending instalments, some finance companies allegedly seize their vehicles forcibly and make the owners bear the expenses incurred during the repossession process. The organisation said these practices were causing financial and mental distress to vehicle owners and drivers. It urged the police to initiate appropriate legal proceedings against financial institutions allegedly resorting to unlawful recovery methods. The delegation submitted a memorandum to the district police authorities in Vijayapura, seeking intervention and protection for affected borrowers. Karnataka Rakshana Vedike state vice-president Basavaraj Talikoti, Kolar taluk president Ravi Golusangi, Nidagundi taluk president Anand Tadagali, Vijay Bhagi, Sridhar and Anand Rathod, along with other members, were present during the submission of the memorandum.