Guidelines of RBI for non banking finance company to sanction private loans
5 years ago
Dear sir/ mam, I want to ask that is there any such scheme which is legally valid according to the guideline of RBI for non banking finance company that paper less personal loans are sanctioned on the basis of good track record of customer without his own consent, sign, photo and document?
My second question is that recently a non banking finance company has approved a personal loan in my account without my consent , sign and documents. On being asked the company is saying that the loan was sanctioned as per the scheme of paper less personal loans.Now the company is asking for EMI every month.we are not able to pay an EMI of Rs. 9000every month. Should I pay the EMI or go for settlement or file a case against the finance company? If I go for settlement, I can pay only Rs.2000 would the company be agree for it ? I don't understand what to do? Plz give legal advice for both the questions.
Though you have not applied but received the amount in your account hence you have to pay.
Bring it to the notice of authorities and try to settle it through OTS.
Shanti Ranjan Behera
Advocate
ARPIT BATRA
Responded 5 years ago
Deepak Yashwantrao Bade
Responded 5 years ago
In recent times in many such cases Courts are of view that such transactions are invalid as they have not matured into contracts. Better file a suit against them to declare yourself not liable for paying any EMI etc. Please consult an experienced advocate.
ROBERT D ROZARIO
Responded 5 years ago
Rameshwar Dadhe
Responded 5 years ago
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