Unauthorised debit entry in home loan account
kishorchandra p mehta
(Querist) 25 December 2014
This query is : Resolved
sir, I was granted Home Loan by a Co op bank,wherein,without my request,consent or application for further disbursement, bank
debited my loan a/c on 27.5.2006 by Rs.60,000/-& thereafter, to regularise the above unauthorised entry got executed from me on 31.3.2008 fresh documents inclusive of above amount.(while scrutinising my a/c I found above unauthorised entry now).
can I ask for reversal of above entry after such a long period and whether it will be legal. Would anybody please guide me ?
prabhakar singh
(Expert) 25 December 2014
The bank made it good with your consent.You were under duty to take objections then and there.Now you can not go behind.
Isaac Gabriel
(Expert) 25 December 2014
Did the bank issue loan pass book?If not ask for it where you can find out how the transactions were carried out without actually paying you the amount.It would have been revealed while reconciliation of bank account.
ajay sethi
(Expert) 25 December 2014
what were you doing for 8 years? you should have objection when debit entry was made and statement of account was forwarded to you
Rajendra K Goyal
(Expert) 25 December 2014
You have regularized the previous transaction by confirming balance and execution of fresh documents. After such a long period your claim would succeed is doubtful.
However, if the money was embezzled by Bank staff illegally, You can proceed criminally.
Dr J C Vashista
(Expert) 26 December 2014
@Mehta,
You have concealed vital and material information from the experts as to who, when and how the aforesaid irregularity was detected?
What were the circumstances to apply afresh to include said amount of Rs. 60,000/- in your current loan account?
Applying afresh implied your consent for alleged irregularity, which cannot be put to prosecution/ litigation at this stage.
kishorchandra p mehta
(Querist) 26 December 2014
Thanks to all
shree Prabhakar singh,
shree Isaac Gabriel,
shree Ajay Sethi
Shree R.K.Goyal
and Shree J.C.Vashista.
for giving your valuable opinions.
Devajyoti Barman
(Expert) 26 December 2014
yes, work on the advices of the ld. experts here.
T. Kalaiselvan, Advocate
(Expert) 27 December 2014
The alleged irregularities are commonly happening in the cooperative sector. It is the member/account holder who to be vigilant to immediately take action on such reported irregularities, if it allowed to pass over, the time limit will bar from taking any action belatedly.
