rahulkumar (student) 14 February 2012

Bank's legal notice

Sir,

One of my friend applied personal loan. After bank verification it came to know that, documents sub,itted by him was false. Now he is geeting threatning calls from bank that you have to pay the 3% of applied loan other wise we will satrt taking the legal action. Sir in this case what could happen?

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3 Replies

VINOD VERMA (C E O) 28 May 2012

no need to worry at the most they can refuse loan, but they can not book you in any case, as they have not disburse/sanctioned any amount to you

Anjuru Chandra Sekhar (Advocate ) 10 June 2012

YOu pay 3% to them through cheque. Collect the documents back. Take a receipt for the amount received clearly mentioning the reason for receiving such amount. Then file case in consumer court with the allegation that a service organization has no right to penalize for services that were never offered.

Devesh A. Bhatia (Advocate) 19 June 2012

If the loan is taken the bank may charge you with fraud. It is not clear from ur query whether the loan has been granted or not. If bank is just asking for 3% processing fee and not giving you the loan then withdraw your laon application.