Loan
Ranbir
(Querist) 28 February 2019
This query is : Resolved
Dear sir
I had taken vehicle loan of rs 300000 from bank paid almost 90% of the loan but could not pay the remaining amount of 30000 to 40000 because of ill health bank repossessed the vehicle of worth rs 400000 without even repossession list provided the bank after 2 years claims a fraudelent amount to me of around 5 lakh which i know is false how can i justify the same i am ready to pay only if i owe but instead i get money from them where should i go for remedy
KISHAN DUTT KALASKAR
(Expert) 28 February 2019
Dear Sir,
You have to lodge complaint with Head Office of the same Bank and also a complaint with banking Ombudsman. Get issue a strong Legal Notice and resist their actions. Inspite of that if they file any recovery suit then take all possible defenses and contest the case.
Please mark “LIKE” if satisfied by my answer.
kavksatyanarayana
(Expert) 28 February 2019
Is the period if any mentioned in the document? And the rate of interest on the loan? I think you have to repay the loan amount and interest also. so with interest the amount might have been calculated. However make complaint to Ombudsman.
Dr J C Vashista
(Expert) 01 March 2019
Seek all details of your loan account and file a suit for permanent and mandatory injunction against the banker through a local prudent lawyer.
Dr J C Vashista
(Expert) 01 March 2019
Meanwhile get a stay order restraining sale of the vehicle.
P. Venu
(Expert) 01 March 2019
Is there any arbitration clause provided in the loan agreement?
