Foreclosure in cc limit & interest charged

Paramvir Singh (Querist) 02 September 2015 This query is : Resolved
Dear sir,
we were enjoying cash credit limit with Kotak Bank Ltd of Rs 30Lacs and Term Loan Of 20Lacs til now.
We moved over to Axis as Kotak was nor providing us with a new CC limit for Our new Venture in the same LAP.
We along with Axis bank had handed over Take Over letter on 1st July 2015 to Kotak. My CC account at Kotak was Debit Blocked for the past 1 Month as the renewal was not done for the Current CC limit at Kotak. After the DD were handed over for Take Over Kotak en cashed the DD on 13th August and Debited My Account for RS.12500/- as interest charged for 13 Days, ending us paying Double Interest One to Axis for the month of July.
On contacting kotak no specific reason is given except that they has processed for the foreclosure to HO which was taking time, that too this communication was verbal and after they Debited us for Rs. 12,500/- with no written communication whatsoever.
Secondly my sanction letter does not mention the foreclosure fees , but they are demanding Foreclosure amount of 2% with service Tax, they say its written in the Master loan Agreement. When I have nothing to pay for the loan than why the Foreclosure amount. Its a cc Limit which they term as "Facility" and not a loan.
Has Law any way to get me out of this.
Thirdly I also had a TERM LOAN as mentioned above in the same account with Kotak, That too was Paid on 1st July, But They also did not en-cashed the amount till date, Saying TL will close only when full amount has been paid. They again have charged us with Interest of July and August in TL Account. As we were fighting over the Foreclosure % amount till now.
We have finally paid the Foreclosure amount and TL Interest today as we had to obtain the NOC and our Property Documents.
Can this Delay in Encashing be questioned and what can be done in Law to bring Kotak Accountable for Miss communicating us and providing us with no Answers.
I have lodged official complaint with kotak on 19th August but nothing has been communicated by far to us.

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SAINATH DEVALLA (Expert) 02 September 2015
This foreclosure fees are being charged by private banks.It is against the guidelines of RBI.U don't find this practice in nationalised banks.U can complain to the banking ambudsman of UR state,regarding UR problem.

Rajendra K Goyal (Expert) 02 September 2015
Send registered notice to the Bank for refund and if they do not refund, file consumer complaint / civil case for recovery. Lodge complaint to RBI.

R.K Nanda (Expert) 02 September 2015
consult local lawyer.

Kumar Doab (Expert) 02 September 2015

You have nothing to do if closure or say foreclosure had taken time at their HO..........................

If it verbal by bank/banker you can record it (audio/visual/witnessed/minuted).

No reply by bank to written communication is a default by bank/banker.

Show all docs on record to an able counsel well versed with such/banking/consumer matters and pull them to court of law, if required.