Consumer law

Gaurav Pandya (Querist) 03 February 2013 This query is : Resolved

Complainant has Loan Account and Saving Account is same branch of the bank.

However, bank has ceized saving account unauthorrisedly...

does bank have power to ceize saving account without prior notice or else. ?

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Sudhir Kumar, Advocate (Expert) 03 February 2013
State full facts please.

R.K Nanda (Expert) 03 February 2013
give full details.

Gaurav Pandya (Querist) 04 February 2013
Complainant (Account holder)has Loan Account in Bank of Bardoa and also saving account in same branch..

As per bank statment, there is some due ammount in Loan Account.

Bank has never informed complainant to pay due & As per complainant there is no due...

Now, the dispute is that,
Bank has ceized complainant's Saving account without any concern or prior intimation.

Does bank have such type of right ?

ANIL KUMAR 8867907494 (Expert) 05 February 2013
Bank has such powers but if u prove that u have cleared entire loan amount bank has to pay heavy compensation

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