Standard Chartered Bank — Charges despite Signature not matching on Panel

Address:

Gurgaon, Haryana

I had a SCB Manhattan Credit Card which got stolen in May 2013. I immeditaly informed the SCB Call Center within 2 hours, as soon as I realised the same. However by then 2 transactions had happened on the Card. I refused to make payment on the card, as the signature on the Charge Slip does not match my signature. SCB says that whether it matches or not, you are liable to pay the amount. I have also cited to them a similar case in which Maharashtra Consumer Disputes Redressal Commission ( http://archive.indianexpress.com/news/disputed-transaction-bank-to-pay-for-purch...⇄ ) had asked them to pay the amount back to the customer. The Commission had said that it is the bank's liability to match the signature on the Charge Slip before paying the merchant and the customer cannot be charged. Despite this the bank continues to charge me on the statement and my CIBIL record is getting affected. I would have no option other than taking it up with the Consumer Courts to get it resolved as multiple followups with the bank have not heeded any result.