Pcr case
Advocate M J
(Querist) 17 November 2013
This query is : Resolved
Good morning respected members,
The Honorable Magistrate Court has accepted my PCR complaint against a non - banking financial institution U/s 477, 420, 426, 384 & 385 of IPC, giving the PCR number and ordering for the police investigation and submitting the report.
Now the financial institution deliberately refused to take the EMIs, sent through registered post, of my client towards his home loan.
I fear that the non - banking financial institution is marking my client's home loan account as NPA inspite of his EMIs being upto date and to proceed against my client under SARFAESI act.
Can I approach the DRT to take a stay against the non - banking financial institution, if so under which act and on what grounds as the said institution has played the same game against my client last year.
Please suggest how am I too safe guard my client.
ajay sethi
(Expert) 17 November 2013
as on date your account has not been declared NPA nor has any proceedings been taken by non banking financial institution against you . you cannot approach DRT now for any action against the institution .
if your client is willing to pay loan installments and it is not been accepted send a copy of your letter to Chairman of non banking institution .
you can file complaint against non banking institution with RBI
Rajendra K Goyal
(Expert) 17 November 2013
Send a legal notice to NBFI that they have refused to accept EMI and he would not pay any overdue interest / penalty for no fault on his part. You may send cheques by registered post and if the post is refused by the NBFI keep the undelivered envelop for proof.
Raj Kumar Makkad
(Expert) 17 November 2013
I do agree with experts so no more to add.
V R SHROFF
(Expert) 17 November 2013
NO NEED TO ADD
