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A. K. JAYASANKARAN NAMBIAR, SYAM KUMAR V. M.
Director, Trams Union Cibil Limited. – Appellant
Versus
Sajeed V. M. , S/o. Moosakutty – Respondent
JUDGMENT :
(A.K. Jayasankaran Nambiar, J.) :
The 3rd respondent in W.P.(C).Nos.42469 of 2023, 863 of 2024 and 2623 of 2024 is the appellant before us aggrieved by the common judgment dated 23.02.2024 of a learned Single Judge in the writ petitions.
2. The writ petitions were filed by a person, who had availed loans from three credit institutions, and he was essentially aggrieved by the inaction on the part of the appellant herein to rectify his credit rating notwithstanding that he had settled the loan accounts with the credit institutions honourably. The stand of the appellant before the writ court was that the delay in rectification of the writ petitioner's credit rating was on account of non-receipt of comments from the respective credit institutions on the writ petitioner's request.
3. The learned Single Judge, who considered the matter, disposed the writ petition by directing the appellant herein to consider the request of the writ petitioner for a rectification of his credit rating, after hearing the credit institutions concerned and the writ petitioner, and to take a decision in the matter within three months from the date of receipt of a copy of the judgment.
4. Before us, t
Credit information companies are obligated to act fairly and expeditiously in updating credit ratings, as their actions can affect the fundamental rights of borrowers.
Credit Information Company can make a correction, deletion or addition of the credit information, after such correction, deletion or addition has been certified as credit by the concerned credit inst....
A party must exhaust available administrative remedies before seeking arbitration under the CICRA, negating the necessity for arbitration when an adequate alternate remedy exists.
Court's jurisdiction on CIBIL report corrections highlights credit information accuracy.
Procedural irregularities in the State Commission's handling of the case necessitate a remand for fresh adjudication, emphasizing the need for fair hearing.
The CIC Act provides a comprehensive mechanism to address disputes related to credit information, and entries made in compliance with statutory requirements cannot be considered defamatory.
Right to information – RBI is entitled to issue directions to petitioners/Banks to disclose information even with regard to individual customers of Bank.
A writ petition is maintainable for enforcement of a public duty, even if it is not imposed by a statute, and the availability of an alternate remedy does not divest the High Court of its powers unde....
A bank can revise interest rates based on internal ratings without prior notice if contractually permitted, but parties may contest such revisions in appropriate proceedings.
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