Sangareddy consumer forum fines Axis Bank, Liquiloans ₹50,000 for negligence
SANGAREDDY: A district consumer disputes redressal commission at Sangareddy on May 9, 2025, partly allowed a complaint by account-holder K. Krishna and directed Axis Bank and the loan originator NDX P2P/Liquiloans to each pay ₹25,000 as compensation for negligence and harassment, and an additional ₹15,000 toward litigation costs, the order shows. The commission also asked the registry to send copies of the order to the Reserve Bank of India, the Central Consumer Protection Authority and Chandanagar police for appropriate action.
Panel finds unauthorised debits, poor bank grievance handling
The commission found that the complainant’s Axis Bank account was debited multiple times for purported “Liquiloans” EMIs after an agent linked to the lender (referred to in the order as ANH) obtained the complainant’s OTP and executed a digital mandate. Though Opposite Parties 3 and 4 (NDX P2P / Liquiloans and its director) later refunded some amounts and issued an NOC, the commission described the sequence of debit-and-refund transactions as suspicious and held both the bank and the NBFC jointly liable for causing mental agony, financial loss and reputational harm to the complainant. The order records repeated debits on September 4, 2022, and in January 2024, and notes the complainant’s CIBIL record was adversely affected.
Regulator, CCPA and police asked to probe agent and hospital link
The commission recorded that Liquiloans/NDX P2P had a tie-up with a service provider (ANH) which in turn had arrangements with hospitals including PRK Hospital, Chandanagar. The commission directed registry to send copies of the order to the Reserve Bank of India (the NBFC regulator), the Central Consumer Protection Authority and Chandanagar police for investigation into possible frauds by agents and third parties. PRK Hospital’s address in Chanda Nagar is listed in hospital records cited during proceedings. PRK Hospitals
Key facts
Forum: District Consumer Disputes Redressal Commission, Medak at Sangareddy.
Case: CC No. 09 of 2023 (filed February 4, 2023; disposed May 9, 2025).
Complainant: K. Krishna, resident of NSL Colony, Ameenpur Mandal (Sangareddy district).
Opposite parties: Axis Bank Ltd (Beeramguda branch & nodal office), NDX P2P Private Ltd / Liquiloans and its director, and PRK Hospital (impleaded but complaint against hospital dismissed).
Orders: Axis Bank (Opposite Parties 1 & 2) - ₹25,000 compensation; NDX P2P/Liquiloans (Opposite Parties 3 & 4) — ₹25,000 compensation; jointly ₹15,000 litigation costs. Time for compliance: 30 days from receipt of order copy.
(Details and reasoning are taken from the commission’s final order dated May 9, 2025; amounts shown in Indian style: ₹25,000 etc.)
Background and commission reasoning
The complainant alleged an unauthorised debiting of ₹28,000 from his Axis Bank account on September 4, 2022, towards a Liquiloans EMI. He says he did not apply for the loan and that an agent at PRK Hospital obtained his OTP while he was seeking help for his wife’s hospitalisation. He complained to the bank and to the NBFC but the debits continued intermittently into January 2024. The commission accepted that an e-signed loan agreement (timestamped April 5, 2022) and ECS mandate existed in the NBFC’s records, but concluded the agent’s conduct, the non-disbursal of loan to the complainant or the hospital and the pattern of refunds followed by debits were suspicious. The commission found deficiencies in the bank’s handling of the complainant’s grievance and held both bank and NBFC responsible for compensation. The complaint against PRK Hospital was dismissed, though the hospital was warned against entertaining third-party bill settlements.
Procedural notes
Opposite parties 3 & 4 (NDX P2P/Liquiloans) were impleaded after paper publication and later participated in proceedings. Liquiloans’ corporate contact/address (The Qube, Mittal Industrial estate, Andheri East, Mumbai) appears on the lender’s public contact pages. Liquiloans
Axis Bank’s Beeramguda branch details and IFSC records corroborate the branch location serving the Ameenpur / Beeramguda area. ClearTax
PRK Hospital’s Chanda Nagar address cited in the order matches the hospital’s public contact listing.
