Case Law Analysis
EMI bounce charges unlawful when loan permits payment up to 7th and balance sufficient | Refund for 24 instalments : Delhi State CDRC
The Delhi State Consumer Commission ruled that charging EMI bounce penalties is unlawful if the loan contract permits payment up to the 7th and the borrower keeps enough balance, ordering Axis Bank to refund the charges for all 24 EMIs. This protects borrowers from unfair trade practices tied to premature ECS presentment.