undertaking of Loan by Bank
Dinkar Vidyarthi
(Querist) 09 December 2009
This query is : Resolved
Dear Sir,
I took a Housing Loan against my property and submitted its original papers to the bank. which is separate from other loans running in the same bank. after some time,i got transferred my loan to another Bank and the same was under taken by it. that previous bank is now nethir release the papers of property to me, which I submitted to it for housing loan nor send the same to the bank which undertaken my said loan. what is the remedy for me.
Guest
(Expert) 18 December 2009
Its a complicated issue and happens practically. While lending loans, the Bank will see your background, other accounts, loans and security offered there. If you get your secured loan transfered to another bank, the bank will definitely get worried at the unsecured loans. But, for sure, the Bank can not merge two different transactions without any justifiable reason and even the Bank needs a court order for that. You can approach either the civil court or High Court in exceptional cases to get your papers back.
Thank you.
