Loan disbursed to Institute without my confirmation/KYC
3 years ago
I enrolled in an institute for a 6 month upskill course, as the fee was was a bit high so they connected me to a finance firm for No cost EMI loan. I got a mail for loan processed and in that mail they asked me to accept TnC so that the amount can be disbursed to the institute, however after 7 classes due to financial issues I was not in the situation to continue the course and asked the institute to stop the course and cancel the loan application and the same was informed on the mail ( I have not accepted the TnC or done the KYC).
After few days I got to know that finance firm has disbursed the amount to the institute and loan will be cancelled only after institute cancel my enrollment.
Now the institute says that the cancellation is not in their policy and financing firm is saying that based on their relationship with the institute and based on the eNACH form I have signed, they disbursed the amount.
I don't understand if they can disburse the amount only on the basis of eNACH form without KYC? or can I defend the institute's cancellation policies.
Will be glad for any help here.
Ankur Goel @ Complete Law Shield
Responded 3 years ago
But institute can not hold refund. It will not refund completely but you will get refund.
send a legal notice by lawyer to both institute and finance firm.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
No loan can be approved without your consent. Since you received mail confirming the cancelled loan offer, send a legal notice to the firm as well as the university. The cancellation policy is against the law and is intended to deceive people. Bring a legal challenge to this scheme, as well as a consumer complaint. You can also sue for damages in a civil lawsuit.
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Without your assent no loan can be passed. Send a legal notice to the firm as well as the university since you have a mail acknowledging the cancelled loan request. The cancellation policy is against public policy and is meant for cheating people. Approach the court against this policy and also file a consumer complaint. You may also file a civil lawsuit for compensation.
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Pardeep Kumar Dhiman Dhiman
Responded 3 years ago
इसलिए आप दोनो को लीगल नोटिस दे।फिर उनके विरूध कानुनी कदम उठाये।
Sidhaarth
Responded 3 years ago
It is dangerous situation so You may contact personally and all so get issue legal notice
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