Co operative bank
Dipmala Agrawal
(Querist) 13 June 2013
This query is : Resolved
hi sir,
actually i have one big query regarding co operative bank,as i have taken a mortgage loan from my village co operative bank, in this loan there are two guarantors,among that two guarantors one guarantor is also guarantor in third person's loan.
now there is overdue of that third person and bank has transferred the overdue amount of that third person's loan from my loan account while opening my loan acco.
so i m also wrkng in nationalised bank but there is no such rule.
pls help me sir,what i can do in this matter??
thanking you
dipmala agrawal
and if sir any debit advice is signed by us means by the borrower in mistake but this debit advice is not filled by the borrower then what is our chance??
and sir while signing the guarantee bond if there is any clause added by the co operative bank regarding liable for guarantor's liability and if the borrower has signed that bond then??
pls help me in this situation..
i have talked to manager also then he has threatened me that u can do whatver u want..and also telling me that this rules are made by our local board of directors..so is there any rights given to any co operative bank to make such rule by it's local board of directors??
kindly guide me in this matter..
Rajendra K Goyal
(Expert) 13 June 2013
Bank has done an illegal act. If any one is not a guarantor in third person account without one's consent the amount can not be transferred in third person account. Send a notice for rectification in account. If no result, send a letter to their Head Office, Registrar Co-op. Societies. A case can also be initiated in Civil Court, Consumer Dispute Redressal Forum or in Lok Adalat (Public Utility Services). Confirm some debit voucher was not signed in routine for this transaction.
Does your service rules in Nationalized Bank allow such loan with out permission from competent authority or the permission was taken?
Guest
(Expert) 14 June 2013
The bank cannot recover any loan dues of other debtor from you, if you are not his guarantor. You may better issue legal notice to the bank first before approaching the consumer forum so that you may be able to know the bank's views.
Besides, you may also make a complaint to the RBI and the Banking ombudsman for illegal working of the cooperative bank.
Dipmala Agrawal
(Querist) 14 June 2013
hi sir,
actually i have one big query regarding co operative bank,as i have taken a mortgage loan from my village co operative bank, in this loan there are two guarantors,among that two guarantors one guarantor is also guarantor in third person's loan.
now there is overdue of that third person and bank has transferred the overdue amount of that third person's loan from my loan account while opening my loan acco.
so i m also wrkng in nationalised bank but there is no such rule.
pls help me sir,what i can do in this matter??
thanking you
dipmala agrawal
and if sir any debit advice is signed by us means by the borrower in mistake but this debit advice is not filled by the borrower then what is our chance??
and sir while signing the guarantee bond if there is any clause added by the co operative bank regarding liable for guarantor's liability and if the borrower has signed that bond then??
pls help me in this situation..
i have talked to manager also then he has threatened me that u can do whatver u want..and also telling me that this rules are made by our local board of directors..so is there any rights given to any co operative bank to make such rule by it's local board of directors??
kindly guide me in this matter..
actually this loan has been taken in the name of my mother bcz property is in her name..
and c doesn't know much more about the banking rules..
so while opening the account bank has made her sign on some debit vouchers also and by using this voucher they have transferred money from our loan acco to third party's loan acco which is already become npl..
so now can bank use this signed voucher as a valid proof??
pls reply me??
Guest
(Expert) 14 June 2013
At one place you have stated, "i have taken a mortgage loan," while on the other you have stated, "this loan has been taken in the name of my mother" and also that "while opening the account bank has made her sign on some debit vouchers." So, it is not clear whether the loan is in your name or your mother's name or whether your mother is guarantor in your loan case or in some other case also?
You have also not stated what was the description noted on the debit note?
So, even your long decribed query is unclear and incomplete.
However, if your mother was a guarantor in other case also and the debit voucher contained description of the debit on account of that guarantee on failure of the debtor to clear his dues, the debit would be hard to be challenged for your mother. The only remedy would be to pursuade the other debtor to clear his loan dues.
If your mother happens to be the guarantor in your lone case amd not for any other debtor, the debit on account of some other guarantor or debtor would be illegal.
Dipmala Agrawal
(Querist) 14 June 2013
sir actually the loan is in the name of my mother's name only not in my name....actually i have written earlier that i have taken loan because to get some idea about the problem..sorry for that..
the loan is in the name of my mother only and mr A is a guarantor in it..and mr A is also guarantor is in the loan of mr B..now there is a overdue of Mr. B..and bank has taken that overdue amt from my mother's loan amt..
so now help me..
Guest
(Expert) 14 June 2013
I have already stated, Bank can't do that. Your mother may make complaint to the Registrar of Cooprative Societies, RBI and the Banking ombudsman.
Rajendra K Goyal
(Expert) 14 June 2013
Signing a blank debit voucher is like signing a blank cheque. Probably the Bank has used these blank signed debit vouchers for transferring the amount in third person account. Banker may take plea that the borrower has authorized for this transaction. however, this is fraud, Even Bank can not deposit the loan amount of one borrower in the account of another. If fraudulently debit voucher is used by the Bank,it becomes a criminal action.
Isaac Gabriel
(Expert) 15 June 2013
Cooperatives have an in-built mechanism in the Cooperative societies act for dispute,as per which the bank should exhaust the action against the borrower,and if not fruitful,can proceed against the guarantor.Due notices are to be issued before proceeding against the borrower as well as the guarantor. In your case arbitrary adjustment has been done without your knowledge.File an arbitration with the Deputy Registrar or file a case in the consumers dispute redressal forum.
malipeddi jaggarao
(Expert) 15 June 2013
After clarifying the correct position about the name of the loanee, the earlier replies stand good. But your stand appears to be incorrect even now. Your mother has taken how much loan? Whether the bank has disbursed the total loan to your mother or nor? If disbursed, how they debit your mother's account with the liability of a third person< that is not at all possible. However, if the bank has debited your mother's account over and above the sanctioned limits (excluding overdue interest unpaid if any), that is not an authorised debit and your mother need not pay that amount and explain this situation to the Manager of that co-operative bank.
Dipmala Agrawal
(Querist) 15 June 2013
they have first disbursed the total loan amt of rs 3 lacs to my mother;s sb a/c from her loan a/c..from that they have transferred total 36500 rs it includes 10000 rs for deposit for registration entry pending which wll be given to us after all mortgage procedures will be cmpltd..24000 rs for overdue of that third party..and 2500 rs for share of co op bank..in it they have prepared one debit voucher of rs 24000/- which they have transferred to that third party's overdue..
so now guide me..
malipeddi jaggarao
(Expert) 16 June 2013
So debit voucher for transferring the overdue amount of a third party in which way your mother is not connected, has been prepared and your mother signature is obtained. Why cannot you tell this fact in the initial query. If this is the case, there is no way except to contest that debit is not authorised by your mother and your mother's signature is obtained fradulantly on the debit voucher without revealing the purpose of the voucher. Better engage a local advocate and take his guidance to disprove authorisation of debit.
Sudhir Kumar, Advocate
(Expert) 21 June 2013
first of all you are not sure of the facts.
Then you have mixed up.
Better meet nearest lawyer will all papers as in your case no advise without perusal of papers can be worthwhile.
