Banking
Nandesha
(Querist) 09 January 2013
This query is : Resolved
I do agree that there are mistakes from my friends end but want to know what are the right steps to resolve this issue
My Friends is in a situation and need a legal point of view .Has unintentionally created committed a fraud. The individual has a clean track record, has a six month old auto loan which he has being paying on timely basis. On 28th November 2012 he had to gift a high value consumer durable to one of his client. he purchased it on Consumer Durable Loan @ 0% interest and 0 Down payment based on a festive season Scheme(Submitted -Pan Card and address proof ).The delivery of the product was delayed, hence the individual Used the same scheme in another showroom, but used another Pan Card which beard improper details and was created by mistake . Now the situation to summaries - Two loans ,i.e Consumer durable loan @0% interest and 0%downpayment. both the product is delivered. Now to top up the situation the good are gifted to the clients as a good will gesture to attract one of his client - business purpose. The individual had no negative intentions. The loan account takes 15 days post-delivery to be generated. The individual planned to foreclose the second loan with improper details. But since the details took more time than expected , the individual has been waiting. The second loan or both loans has been highlighted and someone from the Bank(loan Provider NBFC) has been visiting the individuals residence .The residence is a rented premises and the individual is a bachelor. Hence the official traced the broker and has been trying to investigate the issue. The individual-i.e is my friend is not in town(Mumbai).Now I wish to know the legal hurdles or problem that my friend might face. I know my friend is true since he had given me the Draft to fore close the matter as soon as the loan account is created .now the account is created and we have requested to send him the fro closer Details . the bank has stated to reply in four working days. And then four more days for the loan to be closed. In the mean while the Officers are creating problem for the image and reputation of the individual, by approaching estate Broker, neighbors and owner of premises and informing that my friend has defaulted payments. Where in the first EMI is still not due and will be due on 5th feb 2013
Please feel free to reply and ask more details if required.
Some have informed me with similar case where the individual was considered as accused and was arrested for fraud - and booked with IPC 420,467,468 and 510 .
is there any way to avoid legal hassle as this was not delibrately done and the individual is read to pay the entire Loan amount in full and close the loan account
Raj Kumar Makkad
(Expert) 09 January 2013
There is no other option but to face the trial and prove innocent to the crime as alleged. engage a competent lawyer dealing in criminal cases.
Nandesha
(Querist) 10 January 2013
As of now , there is no case booked. will the foreclosure of the account help to resolve the issue.
Guest
(Expert) 10 January 2013
That depends solely on whether the foreclosure is accepted in preference of filing a complaint for cheating & fraud.
Nandesha
(Querist) 10 January 2013
Upfront closed second loan as realised mistake.
just want to know voluntary(anticipatry) steps to be taken by a law full citizen to correct the mistakes occurred.
R.K Nanda
(Expert) 11 January 2013
contact local lawyer.
Raj Kumar Makkad
(Expert) 11 January 2013
man itself is a mistake. It is better to contact the officials of the bank and do take them into confidence and reschedule plan.
