Loan against house property
DINAKARAN
(Querist) 07 February 2011
This query is : Resolved
Respected Experts
One of my neibours Applied bankloan against his house for the purpose of his daughter's marraige.The banker asked essential documents.The loan applier also submitted all the documents what they need.The loan applier gave cheque for Rs 2500 for prcessing fees.At final stage the banker send one person to verify the house and took photo.The bank person demanded some money from the house owner to sanction the loan amount.But the house owner refused to give bribe.
The banker rejected his loan application.
The banker was stating reasons for rejection (1) the house owner failed to give the documents What they need( but the house owner gave all the documents)
(2)the cheque(processing fees Rs 2500)
was returned ( but the banker din't deposit the cheque falsly accusing the house owner)of insufficiant of fund
the house owner verified his bank and conformed that no cheque was returned from his account.thw loan applier got vexation
Now the question is 1.can the banker be punished?
2.What kind of remedy can get for his vexation?
3. Can he get any compensation?
Please guide us
Thanks & Regards
J.Dinakaran
adv. rajeev ( rajoo )
(Expert) 07 February 2011
It is banker's discretionary power to sanction or reject the loan.
You cannot claim any compensation from the banker or you cannot punish him.
You can bring it to the divisional office of the bank regarding behaviors of the office staff and you can make complaint to that office regarding the person who asked your neighbour the money to sanction the loan. your neighbor had sufficient funds in his a/c inspite of it by giving a false reason banker rejected the loan. You have to bring it to the notice of the divisional office.
Chanchal Nag Chowdhury
(Expert) 08 February 2011
File a suit for Defamation & compensation.
While the Banker has every right to reject a loan, he has no right to scandalise / stigmatise.
malipeddi jaggarao
(Expert) 10 February 2011
You have mentioned two reasons cited by the banker for rejection of loan application. (1) The heque given for processing charges is returned due to insufficient funds. You can create documentary evidence to prove it wrong by producing the statement of Bank account. If the account is not in the same bank, the reasons quoted by the bank wherein the deposit account is maintained by your neighbour will be made available to him. The second reason is not submitted required papers. This depends on many aspects. What is the purpose of the loan mentioned in the application? Whether the property is offered for mortgage. In such case you have to produce the title deeds, EC for 30years (in some banks), tax receipts, link documents of the property. Upon initial process you will have to obtain legal opinion from panel advocate of the bank and valuation fro approved architect. Generally bank will refer for legal opinion and valuation upon deposting te processing fees.
Before making accusations, make sure of above aspects. You can not attribute the demand for bribe for mere refusal of the loan. I agree with expert Mr.Nag chowdhury that while the Banker has every right to reject a loan, he has no right to scandalize/stigmatize. So verify whether there really the banker scandalizes the issue. If you are still confident that rejection is not on genuine grounds you can directly lodge a complaint with CVO of the concerned bank. You can get the address of Chief Vigillance Officer of the Bank in its website. This may lead to serious repurcussions for the person against whom you are making accusation, though whether the accusations are right or wrong. Be cautious for taking this step unless the accusations ae true to the best of your knowledge. Do not resort to such steps on mere assumptions as it affects the career of the employee.
DINAKARAN
(Querist) 10 February 2011
Thank you Experts
Thank you a lot
Dinakaran
