Personal loan
Querist :
Anonymous
(Querist) 20 April 2018
This query is : Resolved
Hi , Please help me here.
I am digital media profession also run a business. I got a call offering personal loan. As I was interested I agreed to it.
The amount i needed was 25 lac. Agent reached out to me asked for my required documents and asked me signs multiple agreements. Then the verification happened at my work place and home address and i started receiving calls that my loan is sanctioned. I started receiving funds from multiple banks and the amount summed up to 30 lac.
Now this 2 of the banks have called me after weeks and informed me that i have multiple funding and as per my salary i am not eligible for the loan. As i had received extra funds i returned it to one of the banks after utilizing the rest of funds.
The other bank (ADITYA BIRLA CAPITAL) has said the same thing and i explained them the situation This guys accuse me of being fraud. After a discussion at my work place we agreed with one of the senior to pay the EMI's as schedule.
Now one of this guys is paying me visit at my office and is forcing me refund the amount. I have asked his senior to drop a mail of discussion and I have agreed to pay EMI's on email.
The point I am trying to bring here is this guy who's visiting and now mentally harassing me at my work premises. Do I have a legal way to pass through this. This guy never calls me and whenever visits my place say he called up but I missed the call(which never happens).
I am afraid my Job will be in the line of question because of this.
As I understand I have opted for personal loan which I have received after this guy’s followed their procedure. Please let me know the best I can do to deal with this.
Adding to this i have not even entered my EMI cycle. My 1st EMI start from May'18.
Ms.Usha Kapoor
(Expert) 20 April 2018
You refer the following links for information regarding what you need to do when a recovery agent gets abusive. You can file a Police complaint as well.
https://blog.loanbaba.com/10-things-to-be-aware-of-when-debt-collection-agents-come-knocking/
Ms.Usha Kapoor
(Expert) 20 April 2018
With respect to RBI guidelines regarding recovery agents click the following link.
https://www.caclubindia.com/news/rbi-issues-norms-regarding-recovery-agents-1474.asp
Sudhir Kumar, Advocate
(Expert) 20 April 2018
OK you can deal so with recovery agents as explained above.
Now how can they deal with you?
Given facts indicate that you have taken a loan beyond paying capacity by hiding from "X" bank that you are also borrowing from "Y" bank and utilising part of your paying capacity there.
In this case both the banks did not have notice of reduced paying capacity and sanctioned you loan. Even if you are refunding the loan or has refunded one part of loan the offence stands committed from the point when you simultaneously signed papers. of both banks.
Your conduct fits in the framework of section 415 and 420 of IPC.
You take action against him and he takes action against you.
Querist :
Anonymous
(Querist) 20 April 2018
Thanks people !
What's the best way to deal with this. As i am not refusing the pay the loan I have taken.
P. Venu
(Expert) 20 April 2018
When there is a case and counter case involving criminal offences, they end, usually, in a compromise.
Sudhir Kumar, Advocate
(Expert) 20 April 2018
if you file a criminal case against the person he can get bail and canjustify as to why he is approaching you.
if bank files it is a cheating case and bails is not so easy. Indian jails are not so rosy as painted in movies.
so return the money.
Kumar Doab
(Expert) 20 April 2018
Pls post with your ID and you can get many replies.
Your ID does not mean your email id or phone number and don’t post these also.
Querist :
Anonymous
(Querist) 21 April 2018
@Sudhir Kumar : Sir, I never said i donnot want to give the money back that was received. Eventually I have confirmed on the email that i'll be paying the loan amount back as per the scheduled EMI's.
Guest
(Expert) 10 June 2018
Good discussion on an academic query.
By the way, what business of digital media you run in addition to your job?
Guest
(Expert) 10 June 2018
Also, as far as your job is concerned, are you in Government/PSU employment or in some company corporate?
