can any bank charge the interest without disbursement of loan?

Querist : Anonymous (Querist) 15 June 2011 This query is : Open
Dear all,

pls if anybody can guide me on this it would be a great help.

My firm applied for a loan against property in one of the reputed bank. everything was fine, all documents submitted, verified everything cleared, they sanctioned the loan but we had to give one NOC after which they said they would disburse the loan amount.

Due to some reason we could not get the NOC so the loan was not disbursed. now they have charged EMI on this, would like to know is it legal?

can we fight against them, if yes how??

Kindly help, eagerly waiting for the reply.

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