Bank loan grantor
Manoj Deka
(Querist) 12 March 2012
This query is : Resolved
Dear Sir,
Please guide in the matter of: a loan was applied by an individual stating that other two person will be grantor and equal partner in a construction work so one of the partner mortgage his land & building to the bank accordingly the bank sanctioned an amount of Rs. 5,00000/- since all the three person stated that they will do business in the name & style of XYZ as there were no bank account in the name of xyz firm so all the three partner gave a written submission to the bank stating that the sanctioned amount may be deposited in the persons personal A/c who mortgaged his land & building but this partner never invested the amount in business but now this person has lodge a criminal case against the individual who initially applied for the loan.
Now is the case maintainable since no correspondence for taking or giving money were ever done, not a single voucher or money receipt or bank transaction were made with the first person.
Please advise how to proceed
ajay sethi
(Expert) 12 March 2012
consult a local lawyer . what are allegations amde in criminal complaint?
without going through the case papers it would be difficult to advise .
Deepak Nair
(Expert) 12 March 2012
What are the allegations against you and what are the sections applied in that criminal complaint? Is it for fraud??
Please revert with further details.
Guest
(Expert) 12 March 2012
The problem has been stated in a very hypothetical manner without stating in whose name the loan was sanctioned by the bank and cheque issued in whose name?
Also, who used to withdraw the money from the account of the mortgager and for what purpose the money was used?
Further, who is "THIS" person who has lodged a criminal case against the individual who initially applied for the loan?
Further question arises, whether there was any written partnership deed between the three persons or not and what happened to that deed?
Still further, who stood guarantee for whom, the applicant, or in whose name the cheque was issued by the bank?
SAINATH DEVALLA
(Expert) 12 March 2012
Dear Mr.Manoj,
The bank will not disburse the loan unless an account is opened in the same bank in the name of the firm.You mean to say that the amount was deposited in account of the partner who mortgaged his property.Who has lodged a criminal complaint,the partner or the bank?The case could be sustainable if you provide the correct informatiion.What are the contents of the criminal complaint?Your query itself is a bit confusing,as your expression of the caase is not clear.Our experts here will certainly provide the right path to proceed,but kindly send the contents of the complaint.
PARTHA P BORBORA
(Expert) 12 March 2012
your query is not clear . Tell us the complete story.
Manoj Deka
(Querist) 12 March 2012
Thank you to all sirs I am coming within a day or two with details of the case
Guest
(Expert) 12 March 2012
You are welcome any time, but with clear details.
Kiran Kumar
(Expert) 12 March 2012
you query was more academic in nature, proper details will open the case for discussion.
Shonee Kapoor
(Expert) 12 March 2012
I am unable to make complete sense out of the above said queries, so won't opine.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Deepak Nair
(Expert) 14 March 2012
You are always welcome.
Guest
(Expert) 14 March 2012
Welcome any time with detail, Mr. Manoj Deka.
