I have taken MSME colleteral less loan under CGTMSE
10 months ago
Sir,I have taken MSME colleteral less loan under CGTMSE (CGTMSE will refund money to bank in case of MSME fail to do bussuness)scheme.11lacs Term loan and 8 lacks working capital.Compantbecame and sick and bank account became NPS in 2018 June.At the time of NPA there was 5.60lacks in current account which i did not use.Bank recovered 8 lacks in 2019 june by selling assets.,the term loan has been recovered fully remaing i have to pay arounf 5 lacks.They recived 7laks form CGTMSE as 1st installmnet.Still filed a case in court saying i have to pay moremoney as they took 5.60 lacks from current account towards inetrest without my knowledge and witohout my authriozation.Even today the inerest getting accumulated to current account and showing as balance.
Since long tome bank did not claim 2nd instalmnet from CGTMSE ,it is diffeciency of bank services.Due to thier delay since 3 yeras the inerest getting accumul;ated to working capital/current account.
Kindly advice can bank charge inerest on NPA accounts and can bank deduct money from current account after NPA also witohout borrowe authrization bank monthley can deduct some amount as interest.
Thanks
Once a bank loan is declared NPA, a routine process is adopted by the Bank for recovery of debt lying outstanding against NPA. Have you raised your grievance ever before the concerned Bank informing their deficiency in the collection of 2nd installment of the loan from CGTMSE that increases the interest on the loan under NPA, If not made till now, make an application to the Bank on this point and if any response to your complaint is not received or received an unsatisfactory response, then you may file a complaint before the higher authority of the Bank for a resolution. Until and unless the loan is repaid, the bank can charge the interest on the outstanding loan of the defaulted borrower. You may also escalate the grievance before the Banking Ombudsman or Consumer Court for a resolution. But remember, as a defaulter borrower you can not escape yourself from your liabiltiy to repayment of loan lying against you and you have to face other legal consequences for the same. Reach out to an Advocate for guidance and steps.
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