Asset reconstruction company

Hello All,

If the ARC fail to provide the NDC even after written commitment from ARC and where I have done the full payment then what should we do ?

Issue a legal notice and Bank/ARC may yield to legal notice. If they do not drag them to court, at your location what else. If it happens the whole process and payment by you shall be a waste and you shall also be in the court, till the matter reaches its logical conclusion.

Hello All,

I would like to know if we raise a "Dispute Resolution" request in CIBIL and even after 30 days the CIBIL does not update then what should we do ? I see as per section 21 sub-clause (3) of Credit Information Companies Regulation Act , 2005 CIBIL is mandated to updated the information in 30 days.

When we tired to contact CIBIL , they responded that we cannot do anything because the credit institution ( Bank ) didn't not update us even on sending reminder and we cannot update unless it is informed from the Bank.

My question is is it not violation of the Act were no where it is written that even if it exceeds 30 days , CIBIL can be quite on that. On the other hand what are the options left for the borrower ?

 

You can do anything and everything if any your rights is denied or violated.

You can produce copy of bank passbook having photograph of the a/c holder.

Has CIBIL stated so in writing?

Based on statement of CIBIL issue notice to CIBIL, Bank, and ARC.

The court, appellate authority shall decide on merits.