Rajesh (SE) 10 September 2014

Bank not willing to share loan documents, how to proceed?

Hi,

My father had taken a term loan from central bank of India and used the property document of our house as suretey. later my father was unable to pay the loan and till now not paid back now the bank is initiated leagal proceedings aganst my father and are ready to auction the house to recover the money.

Currently i am not able to get the full details of the loan . I approached the bank to provide me with all the details like the sanction letter dusbursal details but the bank is not willing to share any details. How can i get the information from the bank? Currently my father is sick and not able to provide any details of the loan and i am in a situation to pay whatever the amount the bank is stating as final settlement.

How can i proceed to get full information about the loan from central bank of india?

Thanks

Raj

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3 Replies

Kiran Kumar (Lawyer) 10 September 2014

Move some application on behalf of your father. Simultaneously you may make a complaint with the RBI as well.

Now, if the bank is trying to proceed against the property in question under SARFAESI Act then immediately move necessary application before the Debt Recovery Tribunal to seek the stay of proceedings.

P.THANGAVEL (ADVOCATE & LEGAL CONSULTANT) 10 September 2014

File an application under the RTI Act seeking all the particulars about the loan duly signed by your father

enclosing prescribed fee of Rs.10/-by way of DD/PO.

You may seek copy of all loan documents and Statement of loan Account since inception to till date.

Bank is bound to provide the same failing which send an appeal to the Appellate authority

Definitely you will get the positive response.

Kumar Doab (FIN) 11 September 2014

Bank and its BM is under obligation to supply:

• letter of offer

• copy of filled in loan application

• copy of loan agreement

• terms and conditions governing the housing loan

• other documents such as schedule of fees and charges

Banks are required to give authenticated copies of documents executed by borrower free of charge. (cf. para 8.11.1 of Code of bank’s Commitment to Customers)

Escalate in writing under proper acknowledgment to Circle head, Nodal officer, Chairman, and Code Compliance officer of BCSBI too……………………………….and demand within say..........................3 days.There contact details should be available on bank’s website.

If they do not respond pursue thru RTI.

Contact a lawyer well versed with such matter AS AP and prepare your defence.