Cheating by the bank
Kvijay12345
(Querist) 09 March 2017
This query is : Resolved
Dear Sir,
I took the Home loan required from the multinational private Bank in Feb 2008 & continued to repay the loan till Feb. 2009. In December 2008 on my request to the Bank , I received the copy of my Home Loan Agreement in which I found many irregularities such as the rate of interest was changed from 8.5% to 12.5% by overwriting in the loan agreement without my knowledge and consent. There are several over writings from the coverpage itself to the end page of the loan agreement throughout. My and wife`s signatures are subsequently forged. The loan agreement is subsequently forged. Hence I sought the clarification from the bank and intimated the bank that if I do not get the clarification , I would stop the repayment of the loan. Even after this when I did not get the satisfactory reply from the bank, I stopped the EMI on loan from Feb 2009 onwards. Afterwards the Bank denied my allegations and hence I got my signatures checked from the Forensic & Handwriting Expert and sent the copy of this report (in which it was clearly stated that the individual signatures were of not one person and were forged) to the then Chief Executive Officer and Managing Director of the Bank.But instead, looking for the ways to resolve the dispute in 2010, the bank sent me a notice under the SARFAESI Act, which was duly replied by me immediately. I stated in reply that due to the forgery committed by the bank the loan agreement has already become null and void and in absence of the valid loan agreement the bank is no more a secured creditor and hence the notice was wrong, illegal and invalid and therefore the bank can not enjoy the benefits of a secured creditor. after my reply to this notice, the bank did nothing, hence I was forced to complain this matter to the Police. But the Police were also hesitant to accept my complaint against the Bank, hence finally in 2012, I approached the hon`ble. High Court by the way of Writ Petition, in which The High Court Directed the police to register the F.I.R. immediately under the various IPC sections like 420,467,468,471 etc. against the bank to investigate the matter at the earliest.
As on today the F.I.R. is registered against the Bank under the various IPC sections 420,467,468, 471 etc. and the investigation is going on. The bank is trying to rub off its responsibility saying it is not their fault as the loan was processed by their DSA. The DSA people including the Head of the DSA and then Branch Manager who processed the loan are absconding and hence there is no arrest yet as the police are searching these culprits and at present the matter is pending in the metropolitan court. As on today the concerned flat is in my possession. I have learnt that the loans processed by the DSAs appointed by bank does not carry any legality; as these DSAs are not the employees of the bank.
Recently I have received the summons of the O.A case filed against me in DRT-II, Mumbai. The bank could not file the S.A. (the case as a secured creditor) as the agreement is forged, bogus and illegal. According to the knowledge received from my sources an O.A. still requires a valid loan agreement. Further the genuineness of the documents is not proved yet as the matter is currently pending in metropolitan court and the F.I.R. is registered against the bank.
The bank has filed an O.A. relying on the forged and fraud documents whose genuineness is not proved yet. This means that despite of my notice to the bank not to misuse the alleged loan documents, the bank has executed all the false, forged, bogus and fraud loan documents alongwith the loan agreement. In the wake of this, I wish to ask you that just relying on these herein above mentioned forged and bogus documents as there is also no valid agreement for filing O.A. how could the bank file the O.A.? Is this matter maintainable in DRT-II ? can the defendant make a counter claim in DRT II against the bank for all the wrong doings? What are the other legal remedies available for the borrower to sue the bank? What other steps can be taken against the bank for executing the fraud and bogus documents including the loan agreement? please let me know.
Thanks
rajeev sharma
(Expert) 09 March 2017
You will have to file an reply before DRT. State all the facts of forgery and the FIR filed by you against the bank. You have to satisfy the tribunal that the rate of interest agreed between bank and yourself was 8.5%.seek stay against. DRT may direct you to pay the amount accepted by you as outstanding against you.
Sudhir Kumar, Advocate
(Expert) 10 March 2017
Read.
It appears that facts were so numerous that you had no option but to write a on narrative so that all (relevant only) facts are highlighted.
DSA status.
DSA is agent of bank and not your agent. in case any wrong has been done it is estoppel against bank and not you (as far as civil liability is concerned).
True bank will not be responsible for the crime conducted by their agent in the course of business. However the DA prepares the agreement. It has to be executed by bank officers and they have signed the same with forgery and tampering for which they cannot escape the responsibility.
DRT
you have to agree that loan was taken by you. You have not clarified but it appears that the original documents may be with the bank and lien of bank may also be registered. So bank is secured creditor.
Now with the development of criminal case following High court directions, the suit is not going to be a smooth sail for the bank.
So submit elaborate reply as advised by Mr Rajeev Sharma.
Sudhir Kumar, Advocate
(Expert) 10 March 2017
further please also ask your lawyer to examine the question of limitations.
Kvijay12345
(Querist) 10 March 2017
Dear learned adv. Shri sudhir kumar, pls tell me what are the limitation chances in this matter as the loan agreement is nullified & void due to forgery? And the matter is almost like without agreement. I have heard that for mortgage & home loans the limitation period is normally of 12years. Is this true? thanks.
Kvijay12345
(Querist) 10 March 2017
Dear learned adv. Shri sudhir kumar, pls tell me what are the limitation chances in this matter as the loan agreement is nullified & void due to forgery? And the matter is almost like without agreement. I have heard that for mortgage & home loans the limitation period is normally of 12years. Is this true? thanks.
Kvijay12345
(Querist) 10 March 2017
Dear learned adv. Shri sudhir kumar, pls tell me what are the limitation chances in this matter as the loan agreement is nullified & void due to forgery? And the matter is almost like without agreement. I have heard that for mortgage & home loans the limitation period is normally of 12years. Is this true? thanks.
Rajendra K Goyal
(Expert) 19 March 2017
Loan agreement may not be treated as nullified and void till so decided by the competent court and ordered so.
Agree with the expert Sudhir Kumar.
Balance against mortgage deed can be claimed in 12 years.
rajeev sharma
(Expert) 20 March 2017
1. The agreement may be nullified on the ground of fraud to the extent of charging excess rate of interest but the fact remains that you have taken loan and according to your admission an interest of 8.5% was to be charged.
2. By your admission you have stopped paying the installments of loan. DRT may ask you to pay overdue installments along with interest of 8.5% on filing of reply.
3. The matter is not without agreement . Only a part of agreement is disputed.
4. In case of mortgage limitation period for enforcing mortgage is 30 years
