Bank cheque and law

ISHAN (Querist) 31 March 2024 This query is : Resolved
Respected Lawyers,I have applied for Home loan and NBFC employess asking me for their commision of 6 percent of the loan amountg. They are asking me for Bank Cheque and promising me that they will not use my Cheque and after loan disbursment amount they will take Cash from me and will return my cheque.

I want to know what i have to do to secure my Cheque if they will willfull try to misuse it? what steps I have to take before giving cheque to them.

Thanks and Regards.

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A home loan applicant is concerned about NBFC employees demanding a 6% commission, payable in cash after loan disbursement, but they are insisting on a bank cheque upfront and threatening misuse. Legal advice suggests that NBFC employees cannot demand commission, and agents are limited to a maximum of 4%. The applicant, whose CIBIL score is reportedly low, is seeking advice on how to secure their cheque and report the illegal demand, including options like stopping payment or filing a police report for lost cheque leaves.

kavksatyanarayana (Expert) 31 March 2024
Are they agents to NBFC? The NBFC employees cannot ask commission.

ISHAN (Querist) 31 March 2024
@kavksatyanarayana Yes They are asking for bribe to done my work as soon as possible. They are asking for cheque. But Im afraid they can misuse it. hwta precaustion I shud take so that they cant misuse my check. I told them I will give u my ccheque but dont use it I will give ur commisions in cash after my loan amount will come into my account.

kavksatyanarayana (Expert) 31 March 2024
You don't give commission to the employees of NBFC. If an agent is doing favour he may be taken commission up to a maximum of 4% only.

ISHAN (Querist) 31 March 2024
My Cibil is Bad thats why he is asking for commision. now Pls guide if I give him check and he try to use it fraudently than what i shud do before giving him check? Shud I stop Cheque payment as well as pilice complain of loosing cheque leafs before giving him cheque to stop use of my cheque fraudently? he is asking for 14 percent.

T. Kalaiselvan, Advocate (Expert) 31 March 2024
If you give cheque they will certainly misuse it and they may even try to file a cheque bounce case if the cheque is bounced even after paying them the bribe amount.
You make a complaint against the tainted employees to the top management of the NBFC for demanding exorbitant bribe amount
There is no reason that you have to give them bribe just because your CIBIL rate is low.
You can make a complaint to the vigilance department about this illegal demand of bribe and get them trapped as per the ideas rendered by the vigilance department

ISHAN (Querist) 03 April 2024
Than you to respected lawyers who Replied andd Help me to find out solution.

P. Venu (Expert) 03 April 2024
In the absence of any enforceable debt, a blank cheque cannot be misused. However, the situation could be different if the blank cheque is used in respect of an enforceable debt that has accrued in course of time.

T. Kalaiselvan, Advocate (Expert) 09 April 2024
You are welcome for your appreciations.

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