Fraud by Bank
5 years 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.
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
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
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Manjula Shanmugasundaram
Responded 5 years ago
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.
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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.
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