False claim of being a company
jyoti
(Querist) 03 June 2017
This query is : Resolved
An organization offering loan has claimed to be a company in its website and also in the e-mail addressed to the loan applicant. The letter further states that they are NBFC which is false. Can they be fined under Company Law?
They have also insisted that witnesses to a document has to sign on revenue stamp?Is it a valid in law as witnesses do not discharge any monetary obligation? Can they insist on such onerous clause?
Can on organisation give loan without a license under moneylender's act?
Rajendra K Goyal
(Expert) 03 June 2017
How are you concerned?
Lodge complaint with the RBI.
Witness only identify the borrower, should never sign on any revenue stamp. In case of doubt consult local lawyer.
jyoti
(Querist) 03 June 2017
I had applied for a loan. They are just finding out excuses after taking processing fee. RBI is the right forum for NBFC. But I have read the Company Act which says using Company falsely is an offence.
krishna mohan
(Expert) 05 June 2017
What is the company name? Money cheating related you can file complain with Police Dept. .. economic offenses wing apart from lodging complaint to RBI. Witness need not sign on a revenue stamp as it is intended for paying stamp duty for the monetary transaction according to value.
Hemant Agarwal
(Expert) 05 June 2017
1. Based on the available documents, file a criminal complaint (FIR) of Cheating and Misrepresentation, before the local Police Station.
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
rajeev sharma
(Expert) 05 June 2017
calling any business as company without having proper registration under companies act and claiming to be an NBFC without having a licence from RBI are offences. YOU may name a complaint with concerned ROC and RBI. Besides you may start proceedings under the provisions of IPC
Rajendra K Goyal
(Expert) 05 June 2017
Charging processing fee never guarantee that the loan would be sanctioned and would be disbursed.
It is the charges levied for processing / analyzing / forming an opinion on the proposal / application.
jyoti
(Querist) 05 June 2017
Goyal Ji Once they have given the loan disbursal letter and told that it is advance interest is it not a fraud?
ADV-JEEVAN PATIL, MUMBAI
(Expert) 06 June 2017
1) if interested party file complaint to RBI
2) if loan liability established, Surity is liable for repayment
