செப்டம்பர் 27, 2025 • Makkal Adhikaram
September 27, 2025 • Makkal Adhikaram
NEW DELHI: The Supreme Court on Wednesday ruled that the borrowers cannot recover the property pledged by banks or financial institutions after the auction notice is issued by the banks or financial institutions.
As a result, more than 5 lakh people in each state are unable to repay bank loans and are fighting in the courts for auctioning their properties.
Yesterday, when such a verdict came in the Supreme Court, they were not only shocked, but the borrowers were also crying with tears.
Moreover, if they take loans from banks of four crores, they have paid interest of about three and a half crores. Thereafter, the property is auctioned by the bank officials for non-payment of bank loans.
The bank executives appoint agents for the auction and auction the property for Rs 1.30 crore, which is worth Rs 4 crore to Rs 5 crore.
As a result, borrowers are crying out for auction because their property has gone up for auction for a small amount. On the other hand, we have paid off the loan with so much money, so much labour from this bank. The bank executives, who do not think about it, put this property up for auction.
What is the difference between these banks and moneylenders? Today’s banks have come to such an extent that the moneylender is at the top.
In Tamil Nadu alone, lakhs of people are unable to recover their assets in the bank and are reeling under debt. Also, if there are more than 30,000 borrowers in Coimbatore district alone, what will be the situation of borrowers in all the districts of Tamil Nadu?
The borrowers are crying with tears that this is indeed the biggest betrayal of the public by the Supreme Court. Is this a verdict? We have paid so much money. Without inquiring what the truth is, the victims are crying in tears that the judges are sitting somewhere in a corner and giving such verdicts.
Not only this, how will the youth come forward to go to the bank and start any business by mortgaging their property? This will definitely affect the industrial potential of the country. The affected people say they have no choice but to go to work as slaves.
The central government’s counsel has also requested that the verdict be reversed. Finance Minister Nirmala Sitharaman should meet the Reserve Bank of India (RBI) Governor to discuss the matter. Moreover, the tears of millions of people are that the central government lawyer should take action to reconsider the Supreme Court verdict.
On behalf of makkal ahikaram, I would like to state that the central government should not be negligent and take immediate action and the future government will definitely have the support of the people.
