Loan issue
Bhanu Vardhan
(Querist) 17 August 2011
This query is : Resolved
sir
actually after doing the leagal verification and valuation they can say either loan is issued or not but completion of all the processes, at the time of first disbursement of cheque they stop it. so that in these 3 months duration i cant approach to any other source. this much of time and at the timeof cheque disbersement is it currect?
suppose if they dont sanction the loan why they gave the letter?
actually we have submitted all doccuments at our area office and they have done all leagal and valuation things and after that they transfer to the regional office for loan sansction after that we got the letter regarding the loan patriculars and processing fee. now at regional office staff stop the cheque and if we approach them they couldn reply and told that u approach to ur area office. is it right thing? due to this one i lost my valuable time and money.
prabhakar singh
(Expert) 17 August 2011
A creditor is a king of his domain and no proposed debtor can practically dictate a creditor at least at the point of decision of "to give credit or not".
M/s. Y-not legal services
(Expert) 18 August 2011
Loan or credit is not your right. Same time the banker have to dispose your loan application by allowed or rejected. Simply if he is making delay mean, You can sue against him for mental agony. Except that nothing you can proceed against him.
Advocate. Arunagiri
(Expert) 18 August 2011
As for as the Nationalized banks are concerned, you can demand the right of equality.
If you have all the eligibility and sufficient documents, you can demand the loan.
You can approach the High Court for a direction under writ.
