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Ashwani gupta   08 August 2023

Npa cc account

My firm's cash credit bank account is in Indian bank, whose limit is 25 Lakhs.

There was a fire incident at my shop on 23/01/2021. which caused us very heavy loss.

Although the shop was insured but it took time to complete the process and the claim came on 14/09/2022

After the fire, the bank took its monthly interest charge till June 2021

 

After this the bank charged interest of Rs 413503.74 on 14/09/2022.

For which I am not able to agree because for the last one year I have not imposed any charges, then directly imposed interest and other charges along with penal charges.

Bank should have charged monthly interest and other charges but by not doing so you have charged us interest along with extra amount.

 

No prior intimation was given to us by the bank.

please give your opinion expert..........



Learning

 6 Replies

Real Soul.... (LEGAL)     08 August 2023

You shoud issue legal notice to bank and even file suit to get reliefe .The court will waive that off

T. Kalaiselvan, Advocate (Advocate)     08 August 2023

You may refuse to pay the exorbitant charges which you feel is agaisnt the prevailing law of the land.

you can issue a legal notice to the bank about this explaining the circumstances, if the bank is not agreeing to your request then you can handle the same in the court case that the bank would be filing against you to recover the said interest according to the law in this regard

Ashwani gupta   08 August 2023

Should I first complain to RBI?

anubhav Bhatt   09 August 2023

Dear Client, In such a case, you should approach the High Court against that demand whatever bank has calculated, and then the Court will decide the amount for more clarification you may contact us then I'll explain properly about your case.
Advocate Anurag Bhatt
Allahabad High Court
Mobile 📱 9198889990.

Dr. J C Vashista (Advocate )     09 August 2023

Did you discuss with your bank and attempted to sort out your problem with Branch Manager ???

Ashwani gupta   09 August 2023

Yes, They are saying that it is the policy of the bank. At present I have given a letter to the bank to reduce the interest charges.


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