High Court Rules Against Citi Credit Card

In a landmark judgment which comes as a relief to the consumer, the High Court of Delhi has ruled against sub-prime loser Citibank’s Indian Credit Card division.

Citi cards had filed a recovery suit against one Mr. Deepak for an amount of Rs 3.61 Lakh. The High court has granted stay to Deepak after hearing his version that the settlement amount in the above case was mere Rs 2.0 Lakh and not Rs 3.61 as claimed by Citi Card.

The High Court also made an oral statement saying – This case looks like a clear case of extortion by a foreign bank.

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