Re: personal loan
AMAN
(Querist) 15 January 2012
This query is : Resolved
Hi,
I am having a Personal Loan in Dubai, U.A.E. Before taking the loan, I have signed the bank form and other terms and conditions also.
But I didn’t keep the photocopies of the same. The representative of the bank promised me to give the photocopies of the same, but now he could not turned up and even not picking up the phone. I spoke to their Customer Care department, but they were saying that we cannot provide the photocopies of the same.
Is there anything to worry in the future? Please advice.
Thks,
Advocate. Arunagiri
(Expert) 15 January 2012
Send them a notice demanding the copy of the agreement. They are bound to give you the copy of the agreement.
In fact, they would have received a acknowledgement also for giving the agreement copy. Without knowing the contents, you would have signed.
Nadeem Qureshi
(Expert) 15 January 2012
Dear AMAN
Send a legal demand notice and demand attested photocopy of the agreement with all the relevant documents submitted by you at the time of agreement. they are bound to provide the same.
feel free to call
Raj Kumar Makkad
(Expert) 15 January 2012
As the bank is situated in Dubai so better you enquire from the lawyers of Dubai how to deal with this problem.
Can I ask for what purpose you require those documents which you signed many years ago without reading those and even not keeping/demanding its photocopy at that time?
If your reply is just for reference and record then I suggest you not to be worry as no change therein can be effected.
Devajyoti Barman
(Expert) 15 January 2012
There is worry if the bank does something unlawful on the basis of the loan agreement as in absence of it you may provide the true picture.
However being a consumer you are entitled to get it duplicate copy. If the bank refuses to do that you have right to seek legal; redress.
mahendrakumar
(Expert) 16 January 2012
as rightly advised by Mr.Makkad,it would be better to enquire lawyers practising there,as we cannot deal with indian laws and practices there.
anyhow unless,ylou default in the loan payment,no banks would do any frauds with your loan documents,as it is a matter of their reputation.
M/s. Y-not legal services
(Expert) 16 January 2012
am also agree with makkad sir's advise.. you have to deal this through a local advocate in dubai..
-tom-
Deepak Nair
(Expert) 16 January 2012
Directly the branch from where you availed the load. Go there in person and speak to the concerned persons.
If no response, then send a legal notice through a lawyer as suggested by the experts above.
Shailesh Kr. Shah
(Expert) 16 January 2012
Write letter to the bank stating to xerox of loan agreement.
Que.Is there anything to worry in the future?
Ans.In case of default,action would be taken by the bank, which is mentioned at that agreement and you have no knowledge about it.
prabhakar singh
(Expert) 16 January 2012
What to talk of Dubai,how many banks give loan agreements to debtors in India?????
It all goes as it looks every where.
RAJU O.F.,
(Expert) 16 January 2012
RBI had directed all the banks in India, to give copies of all the executed documnets, to the borrowers ( which they don't comply). We do not know as to whether there is any legal requirement to give copies in foreign countries. I feel if you repay the loan as per agreed terms, there may not be any problem even without obtaining copies of documents. If the bank is preferring any suit for recovery of money, then they will provide copy of the plaint/application and also the typeset of documents containing copies of all the documents which they rely up on.
dev kapoor
(Expert) 17 January 2012
Hi Aman,
Now you have lots of advice.What I suggest is that ordinarily there is no need to conceive any apprehension of any kind of mischief likely to be perpetrated by Agent or the Bank unless you make a default yourself.Regarding legal aspect, I must say that Banking laws are akin in the entire word with slight variation/modifications according the local tenets etc.Even Indian Banking laws are not 100% innovation rather they are copied from some countries according to the suitability of the Indian customers.So, obviously,there should not be any inhibition in asking the Bank to furnish you Xerox copies of the documents.You can preferably make a written request asking the Bank authorities to supply required copies of the dox executed by you for your personal record.I am sure they will NOT deny
