Falsecifaction of accounts &cheating

Advocate M J (Querist) 14 December 2014 This query is : Resolved
can the financial institution charge the over dues/addl.interest for the emi`s paid which works out to sevearal thousands of rupees, if the same is proved on record,does it come under civil or criminal if so what sections pl.give legal opionion THANKS

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prabhakar singh (Expert) 14 December 2014
NO BUT SUCH ACTIVITIES WOULD NOT AMOUNT TO CRIMINAL,A CIVIL SUIT OF TRUE ACCOUNTING WOULD LIE.

ajay sethi (Expert) 14 December 2014
you can file suit for recovery of money paid in excess to the bank

Rajendra K Goyal (Expert) 14 December 2014
The loan agreement / documents must be having the terms to charge overdue and panel interest on delayed payments of EMI. if the penal interest is charged without such provision / clauses / terms(generally this does not happen) you can proceed legally.

Sailesh Kumar Shah (Expert) 14 December 2014
on the giving facts, there is no fabrication in accounts.

Devajyoti Barman (Expert) 14 December 2014
do as advised above.

malipeddi jaggarao (Expert) 16 December 2014
They can levy these charges if the agreement executed by you has provision. Generally, nobody bothers to read the agreement while availing loan. Levy of these charges can be proved basing on the account statement. But this will not provide you any relief if the agreement allows such levy.

Nowadays strict financial discipline is needed, otherwise in the guise of penalties, the financial institutions can swindle lot of money from the borrower, who is not alert.

T. Kalaiselvan, Advocate (Expert) 22 December 2014
If the additional recovery is not in accordance with the provisions of the loan T & C, an action for recovery through civil laws will be applicable.

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