Hi,
I had taken a home loan from Vijaya Bank for Rs.15 lacs for a flat of value 33 lacs (all in Bangalore). The construction is not complete, halted for more than a year and registration is not done. But the bank had released full payment. However I had made written requests on plain paper to disburse the amount due to pressure from the builder. Now bank is saying that they are not responsible for this problem, they are not bothered about the building/construction but concerned only about EMI. Is this right from bank? Wasn't it required for the bank to make appropriate inspections and realease the funds stage wise? Also the builder has made another account with his wife and diverted all funds to that, because bank had just mentioned the name of the concern and given DDs to one of the partner, who is absconding now. He has completed about 70% of work only. I had raised this to RBI Ombudsman, they discarded the case as it is out of their limits. Can I file a case against Vijaya Bank in Karnataka Consumer Commission?
