Taken Loan from Bank on my name by promising to repay

Pramod (Querist) 24 March 2010 This query is : Resolved
Dear Sir,
This is regarding the NMy one close relative has taken Bank loans fro 4 Bnaks on my loans . and assured me that he will pay all EMIs and dues in timely maner . But after few YEARS i came to know that he is not paid anything . and Banks recoved all loan ammount from me.
What shall I do to recover from My relative. He is working with RBI and know all fundas to cheat the novice persons.
Please advise.

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Parthasarathi Loganathan (Expert) 24 March 2010
The facts mentioned by you are not clear to the legal perspective. However, I presume that you have been misrepresented with the facts. Please apprise the matter directly to the bank concerned in writing mentioning the involvement of your friend with sufficient proof.

B K Raghavendra Rao (Expert) 24 March 2010
When the bank has recovered all the loan amount from you, there is no point in going to the bank with your grievance. You approach your relative and demand him to repay the amount taken by him from banks in your name. However, when a bank advances loan, it meticulously follows the procedure thereof and gets umpteen number of documents signed. When you are conned to sign all the documents, with or without the knowledge of consequences, you are subjected to this kind of harassment. You have learnt a lesson but at a huge cost.

mahendrakumar (Expert) 25 March 2010
dear Pramod,

do you have any proof of assurance by your relative regarding repayment of loan by him?
alternatively can you prove that loans were taken for the relative?

Pramod (Querist) 25 March 2010
I am having Bank statement showing ,cheques received from Bank which given loans on my name and same ammount is transfered to his Bank account by cheque issued by me.
Does it help?

Thank for reply