Kolkata advocate (Advocate) 31 March 2019
G.L.N. Prasad (Retired employee.) 31 March 2019
It depends on the facts of each case. A civil suit is always maintainable against promissory note. Consumer Act is an additional remedy. DRT is a recovery process. If the borrower thinks that there are mistakes in the calculation of interest, he may point out such violations and submit the statement as per his version for consideration of the court. But, he can not deny the principal amount
Kolkata advocate (Advocate) 31 March 2019
G.L.N. Prasad (Retired employee.) 31 March 2019
It is left to the court to consider your claims on your alleged payments, and on limitation period of the promissory note. Unless the Bank is sure and certain, they can never file suit against a promissory note barred by limitation. The limitation is an issue of fact and law to be decided by documents presented before them. Once the case is admitted, it is left to the borrower to establish such facts. Please do not underestimate the competencies of Bank's legal team and their able counsels. Finally when the case is admitted the facts have to be established only in a court of law.
Kolkata advocate (Advocate) 31 March 2019
G.L.N. Prasad (Retired employee.) 31 March 2019
The case was already in 1.DRT. 2.Consumer Forum and 3.Before competent Court. It is presumed that the case was represented through an efficient advocate that called the Bank a 'Cheat." Without knowing the facts, statements, calculations members are not competent to guide further in the matter assuming something. It is left to the Advocate to decide on further course of action on the jurisdiction of a Consumer forum in issuing an Injunction against a financial institution directing them not to approach the Court.
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 01 April 2019
Bankers are government by Banker's Books of Evidence Act and accordingly if they file a certififed copy of the loan account, it is enough and the books of accounts need not be produced before the Court.
If a Customer is aggreived by any mis-calculation or charging of higher interest in a scheme government by RBI guidelines/government sponsored programme, such Customer can file a case in the court of law or a counter to the case alrea;dy filed by bank for recovery, specifically bringing out the flaw in the accounts of the bank seeking relief from excess interest resulting because of such flaw. Courts on their own do not verify the correctness of the calculations of the bank loan accounts where case is filed before them.
Kolkata advocate (Advocate) 10 April 2019