CCI rejects charge of abuse of position against Shriram City Union Finance

Tallada Dilip Kumar Vs Shriram City Union Finance Limited (Competition Commission of India) The OP is stated to be a Non-Banking Finance Company (NBFC) registered under the Companies Act, 1956 as well as with the Reserve Bank of India (RBI) and has been engaged in the business of lending money to the public and collecting deposits. The Informant is stated to be a consumer under Section 2(f) (ii) of the Act. The Informant has alleged that the OP is charging higher interest rates using illegal methods of EMI calculation without borrowers’ knowledge under the guise of agreement entered into bet...