Vineet Mittal (ABC) 02 April 2015

Hdfc loan cheque handover by lawyer

I have applied for HDFC loan for buying a plot & got the approval. But HDFC branch manager is saying that the cheque will be handed over to me by Lawyer at the time of registry. But I believe, me & HDFC are making a deal for mortgage as a 1st & 2nd party then, why Lawyer will hand over the cheque to me. It should be hand over to me by HDFC employee.

Please advise if this is the legal practice to receive the cheque from Lawyer instead of HDFC?

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5 Replies

Advocate Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India) 02 April 2015

Sir, He must be joking u believe .... No practice as such .... Regards Kapil Chandna Adv 9899011450

Veeranjaneya (Advocate) 02 April 2015

Nothing of sort; either the lawyer has mislead the manager (not likely) or the manager has some alternative motive.

Ask another bank manger about this & tell him as to why is this?

Kumar Doab (FIN) 02 April 2015

The cheque is your name or seller's name?

Probably M/s HDFC is not a member of IBA.

They are known to frame their own so called rules as per their fancies.

Get your loan offer, brochure,loan application,loan agreement and all so called T&C narrated in these examined by your lawyer.

Vineet Mittal (ABC) 04 April 2015

Thanks all for the quick response.

Mr. Kapil Chandna - No, Branch Manager in Uttarakhand suggesting its a normal practise & all the cheques they issue will be handed over by Lawyer only.

Mr. Kumar Doab - Not sure HDFC is a member of IBA or not. The cheque is on seller's name. I requested HDFC to hand over the cheque directly to seller at the time of registry but should be given by HDFC employee as we are the concerned party. But Branch Manager is stick on his point. I am going to raise an RTI to RBI for this and get it clarified.

(Guest)

dont worry - that is usually a practice with some banks.

some banks have lawyers inhouse on their payroll .for handling property related matters,who themselves will acts as their representatives at times.

i myself went through when i had to cancel my equitable mortgage deed with IOB after paying the loan,where in the bank sent over it representative (lawyer)to get it cancelled..nothing to worry...who ever appears at the registration office had to provide their id proof and photo to get the formalities done..