agent changed principal amount
11 months ago
i purchased a new bike worth 1,50,000. i paid 40,000 as down payment, rest went through finance with rs 1,10,000 as principal amount but bank agent changed principal amount to 1,30,000. now I'm paying my EMI for total 1,30,000. now what i have to do and to whom have to complaint.
A.Dear Sir,
You have to get issue a legal notice and if comfortable you may go to consumer court and file consumer case seeking compensation etc.
You have to get issue a legal notice and if comfortable you may go to consumer court and file consumer case seeking compensation etc.
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A.First you need to approach the Loan sanctioning Bank/authority for the necessary correction/rectification in their record, so that amount of EMI is rectified and adjusted against the principal amount of the loan sanctioned for the purpose. You may file a grievance before the Higher Authority of the Bank.
In case your grievance is not considered or responded by the Bank make a complaint/grievance before the Grievance Cell of the concerned Bank for n/a and in case no suitable response is received from the Bank reach out to an Advocate for filing a complaint under CPA, 2019 for deficiency in service on the part of Bank that caused you to face pecuniary loss.
In case your grievance is not considered or responded by the Bank make a complaint/grievance before the Grievance Cell of the concerned Bank for n/a and in case no suitable response is received from the Bank reach out to an Advocate for filing a complaint under CPA, 2019 for deficiency in service on the part of Bank that caused you to face pecuniary loss.
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A.Hello,
As per the information you have given there is a general rule which states that principal will be liable for an agent's actions - When an agent acts within the authority given to it by its principal, the principal is liable for the agent's actions. The principal will be held liable even if the specific act was not authorized by or known to the principal.
For better clarity you can reach out to an advocate.
As per the information you have given there is a general rule which states that principal will be liable for an agent's actions - When an agent acts within the authority given to it by its principal, the principal is liable for the agent's actions. The principal will be held liable even if the specific act was not authorized by or known to the principal.
For better clarity you can reach out to an advocate.
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