Maharaj Road Carriers Alleges Lack of Fair Settlement Opportunity as Borrower Seeks Release of Financed Vehicles

A fresh dispute has emerged between transport operator Maharaj Road Carriers and Cholamandalam Investment and Finance Company Limited, with the borrower alleging that despite expressing willingness to clear outstanding dues and regularize multiple loan accounts, the finance company has failed to provide a meaningful opportunity for settlement and resolution.
According to Mr. Santosh Dubey, Proprietor of Maharaj Road Carriers, several commercial vehicles financed through Cholamandalam Investment and Finance Company Limited remain at the center of an ongoing financial dispute. The borrower maintains that he is willing to discharge the liabilities associated with the financed assets and secure the release and peaceful possession of the vehicles essential to his transport business.
The dispute concerns the following financed vehicles and loan accounts:
CG13BD0983 – Loan Account No. XVFPRI000007477949
CG13BD0982 – Loan Account No. XVFPRAI00007477973
CG13BD0979 – Loan Account No. XVFPRAI00007477911
CG13BD0987 – Loan Account No. XVFPRAI00007477876
CG13BD0980 – Loan Account No. XVFPRAI00007477834
CG13AK2326 – Loan Account No. XSHURAII00008171473
CG13AK2327 – Loan Account No. XVFPKEE00007985596
CG13AN7052 – Loan Account No. XVFPRAII00006687352
According to the borrower, repeated attempts have been made to engage with the finance company and arrive at a practical resolution. Mr. Dubey alleges that despite his willingness to clear the outstanding dues and settle the accounts, he has not been provided a reasonable opportunity to negotiate repayment terms or conclude the matter in a transparent and equitable manner.
The transport operator claims that the vehicles represent critical business assets and are directly linked to the livelihood of employees, drivers and families dependent on the operations of Maharaj Road Carriers. The continued uncertainty surrounding the financed assets has allegedly created significant financial strain and operational challenges for the business.
The borrower further contends that regulated financial institutions are expected to act in accordance with the principles of fairness, transparency and customer protection embodied in the Reserve Bank of India’s Fair Practices Code. According to the allegations, the absence of meaningful engagement and the inability to secure a fair settlement opportunity run contrary to the spirit of those principles.
Industry observers note that disputes between lenders and borrowers are not uncommon, particularly in the commercial vehicle financing sector where business cash flows can fluctuate due to market conditions, fuel costs and economic uncertainty. However, consumer advocates argue that when a borrower demonstrates a genuine willingness to repay dues and resolve liabilities, financial institutions should facilitate constructive dialogue and provide reasonable opportunities for settlement wherever possible.
Mr. Dubey maintains that he is not seeking to avoid repayment obligations but is instead requesting an opportunity to clear the dues and regain possession of the vehicles through a fair and transparent process. He has called upon senior officials of Cholamandalam Investment and Finance Company Limited to review the matter and engage in meaningful discussions aimed at resolving the dispute.
The matter has also sparked broader discussions regarding borrower rights, lender accountability and the importance of balancing recovery measures with fair treatment of customers facing financial difficulties.
At the time of publication, Cholamandalam Investment and Finance Company Limited had not publicly responded to the allegations. The claims contained in this report represent the borrower’s version of events and have not been independently verified.