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Q. Fraud by Bank

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Anonymous

posted 1 week ago

Dear Sir/Madam
I want to take CC Loan from a Private Bank for that require documents I have submitted to the Bank. After verification and examined those documents, Bank have issued the Sanction Letter and complete all the formalities with me. After sigh the agreement and taking the PF from me. Now they are saying facility was not disbursed due to collateral property offered was not having clear legal tittle. Suggest me what i shall do now.

Showing 3 of 3 Responses

A. Dear Client,
There are few options before you.You may choose one or more depends on how badly you need the money.
1. Talk to the Bank Manager, Find out the problem, sort it out.
2.If you feel that the bank concealed some information and you have been cheated you have the right to go to the court of law provided the Bank refuse to return the money you might have paid as Service Charges.
Shanti Ranjan Behera
Advocate

Shanti Ranjan Behera

Experience: 22 Year(s)

Responded 1 week ago

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A. If valid collateral was a pre condition, the bank is entitled to refuse the facility even at that stage if the collateral was found defective.

Manjula Shanmugasundaram

Experience: 18 Year(s)

Responded 1 week ago

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Anonymous

Replied 1 week ago

Thanks a lot for your valuable remarks.
I have a 1 more question to you. If you kindly reply that i'll very great full to you.
Q. Can i claim from bank to return back my Processing Fees ?
Because I had submitted all documents at the time of apply. After verification and checking then only Bank issued the Sanction letter and taken the Processing Fees from me. If any kind of discrepancies they found. Why they have not informed me and why they have issued the letter? These is Bank responsibility yes or no. Why should i suffer for that?

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Anonymous

Replied 1 week ago

The collateral security issues Bank telling which was gifted RR Dept. to my mother on 2005 , on 2007 my mother gifted that property to me before the 10 years non transferable clause ended. But we have already failed for the NOS to the concerning department. Finally we get the NOS paper on 2008. After that i take a House Building loan from Nationalized Bank on that particular property. Now the Bank saying on the same property that the facility was not disbursed due to collateral property offered was not having clear legal tittle. Please Suggest me.

Reply

A. Banks have the right to stop the disbursement if there is any thing negative they find about the applicant or the collateral security offered. Try to find out what is the problem with the security offered. Once you know it get it resolved and ask them to disburse or else offer them an alternative security.

Abhimanyu Shandilya

Experience: 14 Year(s)

Responded 1 week ago

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Anonymous

Replied 1 week ago

Thanks a lot for your valuable remarks.
I have a 1 more question to you. If you kindly reply that i'll very great full to you.
Q. Can i claim from bank to return back my Processing Fees ?
Because I had submitted all documents at the time of apply. After verification and checking then only Bank issued the Sanction letter and taken the Processing Fees from me. If any kind of discrepancies they found. Why they have not informed me and why they have issued the letter? These is Bank responsibility yes or no. Why should i suffer for that?

The collateral security issues Bank telling which was gifted RR Dept. to my mother on 2005 , on 2007 my mother gifted that property to me before the 10 years non transferable clause ended. But we have already failed for the NOS to the concerning department. Finally we get the NOS paper on 2008. After that i take a House Building loan from Nationalized Bank on that particular property. Now the Bank saying on the same property that the facility was not disbursed due to collateral property offered was not having clear legal tittle. Please Suggest me.

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Abhimanyu Shandilya

Experience: 14 Year(s)

Replied 1 week ago

I would suggest you to take paid consultation on this matter. If you want you can do so by paying my consultation fee then we can talk over phone.

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Abhimanyu Shandilya

Experience: 14 Year(s)

Replied 1 week ago

Please all info and docs so that I can have comprehensive understanding of the case to provide you proper advice.

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