Loan Complete but NOC not being issued
8 months ago
I had taken a car loan and had inbtween asked to change the bank as I had started using a new bank account. The bank change was never done by the bank and I was regularly paying my EMIs to their given account number. Now after the loan is clear, the bank is asking me to pay Rs. 66000 extra as penalty. The bank has been trying ECS in my old bank and they have put bounce changes, late payment and what not even when I have been paying the EMIs regularly.
I dont want to pay this panalty as what the bank is asking seems completely inappropriate. If there was any such thing. they should have brought this up long ago.
A.Dear Client,
In the prevailing situation, it appears that it is a lapse on the part of the concerned Bank that failed to port your bank account having an ECS Mandate to regularise the EMI paid against the loan availed by the borrower, and such a lapse resulted in the charging of cheque bouncing charges against non-payment of the loan. You need to bring the matter to the notice of the Bank and its higher authorities in writing for regularisation of the anomaly caused by default on their part and for the issue of NOC against the loan. You may also make an online complaint on the subject to the Grievance Redressal portal of RBI and in case the matter is not resolved thereafter from any corner, then, file a complaint u/s.35 of CPA, 2019 against the concerned Bank for deficiency in service and unfair trade practice before the Dist. Consumer Commission claiming NOC against the repaid loan from the Bank along with compensation for harassment and cost of litigation. In case you need any legal assistance in the matter, you may contact our legal team along with relevant papers. The complaint must be filed before the Dist. Consumer Commission within TWO YEARS from the date of cause of action.
In the prevailing situation, it appears that it is a lapse on the part of the concerned Bank that failed to port your bank account having an ECS Mandate to regularise the EMI paid against the loan availed by the borrower, and such a lapse resulted in the charging of cheque bouncing charges against non-payment of the loan. You need to bring the matter to the notice of the Bank and its higher authorities in writing for regularisation of the anomaly caused by default on their part and for the issue of NOC against the loan. You may also make an online complaint on the subject to the Grievance Redressal portal of RBI and in case the matter is not resolved thereafter from any corner, then, file a complaint u/s.35 of CPA, 2019 against the concerned Bank for deficiency in service and unfair trade practice before the Dist. Consumer Commission claiming NOC against the repaid loan from the Bank along with compensation for harassment and cost of litigation. In case you need any legal assistance in the matter, you may contact our legal team along with relevant papers. The complaint must be filed before the Dist. Consumer Commission within TWO YEARS from the date of cause of action.
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A.Dear client,
If you have paid up all the dues then issue a notice to the bank demanding the NOC. If they fail to follow the directive then you can go to the consumer forum seeking remedy to obtain NOC as well as seek compensation for mental agon
If you have paid up all the dues then issue a notice to the bank demanding the NOC. If they fail to follow the directive then you can go to the consumer forum seeking remedy to obtain NOC as well as seek compensation for mental agon
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