Taken excess money from sb account on already settled loan
Ashok
(Querist) 20 September 2012
This query is : Resolved
Dear Sir,
I have availed a personal loan from ICICI bank on 2005 and settled the loan before Lok Adalat at Hon. High Cour of Chennai on 2009. Now (after 3 years) ICICI bank sent me a demand notice claimin that my loan is in due of Rs 34299/= and they with hold the same amount from my different SB Account . Bank is asking me to visit the Chennai branch with all documents and I amt at staying Cochin now. Should a customer has to take pain for the negligance of the bank employees who failed to update the settlement information? Is this not a violation of Court order ?
Please advice me on what should I do in this situation.
Thanks & Regards
Ashok
ajay sethi
(Expert) 20 September 2012
the order passed by lok adalat would be self explanatory . it must have mentioned that ICICI bank accepts a sum of rs________in full and final settlement of the outstanding amount. bank cannot after period of 3 years now demand additional amount . contact a local lawyer and reply to demand notice .
Anirudh
(Expert) 20 September 2012
Dear Mr. Ashok,
First let me advice you as to what to do in the given situation.
Please send a communication to the Chennai Branch of the Bank, through registered post, attaching the documents like the Lok Adalat Order, and the details of payment made by you in pursuance of the said order, by which you settled the outstanding.
Now coming to your other query - whether a customer has to go all the way from Cochin to Chennai for the negligence of the Bank. My answer is a straight 'NO'.
But, that answer is only when you had intimated the Bank that you had changed your residence, and that you had got your account transferred from Chennai to Cochin.
Ashok
(Querist) 20 September 2012
Dear Sir,
Thanks for the valuable advice. So from al your advice, I feel I am in the right direction. I had send the communication the the Bank through eMail. They agreed that the amount which I remitted is showing in their reports and the transaction details are all correct. But the settlement information is missing in their documents. And that is the reason they are asking me to visit their branch with the documents again. Also does any bank have the right to with hold anybodies money with out proper investigation and intimation ?
Regarding intimating the address change, Do I need to update the address change even if loan is settled through the court ? The SB Account which I mentioned is taken after I reached Cochin and it is on 2010 (Which is one year after the settlement of loan).
Thanks & Regards
Ashok
M V Gupta
(Expert) 21 September 2012
As apparently the bank did not have the record of settlement reached by you they proceeded on the basis that the loan is still outstanding and in exercise of the right of lien which banks have under law, they have recovered the amount which they felt due and outstanding by debiting ur SB A/C. It appears u did not obtain no dues certificate after settling the loan amount under the settlement reached before the Lok Adalat. As regards ur other query whether u have to go to Chennai with the documents, it maybe stated that the Bank would like to see the original documents before correcting their records. If u cannot go in person u may send any other person with proper authority TO PRODUCE THE DOCUMENTS.
mahendrakumar
(Expert) 27 September 2012
apart from following the advise of ld experts,I advise you to sent a letter to the grievance redressal cell of the bank and to the banking ombudsman too.
