Loan against fixed deposit
Rahul Uniyal
(Querist) 01 January 2012
This query is : Resolved
Dear Sir,
One customer of Bank availed loan against his FDR(Fixed Deposit)of Rs. 8-Lac. Before maturity of FD he wish to close the same so that difference amount of FD+intt. and balance in loan account+intt. to be credited to saving bank A/c. By mistake on closing subject FD of Rs. 9-Lac the entire amount of FD credited to his SB A/c without closing loan A/c which is still outstanding.
and he withdrew the whole amount.
Sir We contacted him and requested to close loan A/c. he admitted his mistake having withdrawn the money (in writing)and promised to Repay the Loan amount and has deposited some 30% of Loan money.
Since party is planning to leave country and applied for Visa also. our apprehension is he may leave country any time. he has also got a plot without any mortgaged. But willing to sell in april 2012 expecting higher rate.
Sir, Could you advise that FIR can be lodged against him ? if yes under which section.
1. Since bank's legal section and local police are of the views that no FIR can be lodged against party.
2. Any step which may prevent him to leave country.
3. Individually can i file a FIR against party (I was loan officer at out side Delhi and at present im posted in Delhi)
With Warm Regards and Happy New Year
Raj Kumar Makkad
(Expert) 01 January 2012
The opinion of the local police as well as of your legal wing accurate and as per law.
Now the only option remains with you is to file a civil suit for recovery and make an application under Order 38 Rule 5 read with section 151 of CPC seeking attachment of his plot and in a separate application under order 39 Rule 1 & 2 read with section 151 of CPC seek freezing of his passport till the decision of the case. Court shall definitely grant both relief in your case immediately within a month which shall definitely force him to clear your outstanding as per law. Limitation of loan has already been extended by him by admitting his loan and clearing 30% of outstanding. Your case shall be decreed with cost and expenses.
It shall be better to issue him a notice prior to going to the court mentioning therein all facts and circumstances of his FDR, loan, withdrawal etc.
Shonee Kapoor
(Expert) 01 January 2012
Agreed with opinion provided by Ld. Mr. Makkad.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 01 January 2012
Agreed with opinion provided by Ld. Mr. Makkad.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
ajay sethi
(Expert) 01 January 2012
agree with makkad . the customer has not disputed his liability . he has deposited 30%of loan amount . since he is planning to leave the country file a civil suit . make an application for attachment before judgement
Advocate M.Bhadra
(Expert) 01 January 2012
Being it is a public money so bank authority can complain to the police but it is difficult to Police to prove an offense.Only Civil suit may be option to attached his property by the order of the court.
Raj Kumar Makkad
(Expert) 01 January 2012
Police has no power to attach the property of any individual except with obtaining specific orders from concerned court. Civil court has got ample power for attachment before judgment.
prabhakar singh
(Expert) 02 January 2012
No criminal remedy only civil remedy available.
A. A. JOSE
(Expert) 02 January 2012
I agree with the view of Mr.Makkad ji
Rasik Dagli
(Expert) 02 January 2012
Which is your bank? is your legal department not aware of legal provisions? It is true that no criminal can be made as it is purely a civil matter..However, if there is any apprehension that he is likely to go abroad, immediately file a suit and attach the plot which he owns. He will pay the amount.
R.V.DAGLI
Advocate.
Advocate. Arunagiri
(Expert) 02 January 2012
No criminal case can be filed, it is only a mistake of the bank, not of the account holder.
Bank may go for a civil case and get (ABJ) attachment of the property before judgement.
Shailesh Kr. Shah
(Expert) 04 January 2012
Take civil action as suggested. No criminal case can be filed.
