Bank handover my excessive amt.to my guarantor after adjustment of outstanding loan amt.from my a/c.
rahul
(Querist) 15 January 2013
This query is : Resolved
I had just now closed my loan Accounts (cash credit & term loan) with the SBI Bank,total outstanding was 26.50 lacs,so we deposited 5.50 lacs & 22.41 lacs by D.D's, DD was of excessive amt. b'cos it was arranged by us,to my ssi unit's loan Accounts,out of that 1.41 lacs was excessive,as a principal borrower i am the only person(prop.) of my unit to operate my bank A/c etc..But Bank has handover the excessive amt. to my gaurantor without my permission or concern, is it legal ? as per banking laws.As per my knowledge anybody can deposit amt. in the Bank but to withdraw amt.is not possible to anybody even wife or father of the Account Holder.Even there was no question of properties Auction of mine or Guarantors.
ajay sethi
(Expert) 15 January 2013
issue legal notice to bank to return the excessive amountof rs 1.41 lakhs paid by you . mention that you have not authorised bank to pay the said amount to guarantor .
Guest
(Expert) 15 January 2013
Your statement, "I closed MY accout", "WE deposited" and "amt. arranged by US", etc., clearly denotes something is being hidden by you when you do not mention who deposited and in what circumstances with the bank in your account. The question arises, how the guarantor came in to picture, when you CLISED your account yourself?
Please understand, your repeated query may not help you get different version of opinions of the experts and the banking & business laws to get modified, if you try to obtain such opinions by hiding material facts.
However, my reply is already there at the page of your previous query at the following link:
http://www.lawyersclubindia.com/experts/Can-bank-handover-amt-to-anybody-if-i-am-owner-a-c--365066.asp
Raj Kumar Makkad
(Expert) 16 January 2013
There is no use to repeat the same query again and again.
Sudhir Kumar, Advocate
(Expert) 16 January 2013
How much was the loan?
how much was the interest?
who paid the loan?
how the payment was excess?
