I am trying to obtain working capital loan from the State Bank of India, I am being denied the loan although I am reasonably qualified, and I hold a bachelor’s in Mechanical Engineering. I approached State Bank of India, Small and Medium Enterprise cell. They after making e spend nearly 15,000/- and six months time denied my loan. My chartered accountant is convinced that our business plan is reliable and sustainable but the Bank officers are not but it is somehow strange that the same bank gave 600 crores to Harshad Mehta to artificially inflate stock market, gave 8000 crores against 2g licenses bought for 1650 crores, funded 4200 Crore Tata motors back door bail out by flouting norms and also funded Maytas the infamous arm of erstwhile Satyam now known as Mahindra Satyam. My question is can I go to court and ask the court to direct the bank to sanction the loan based on the chartered accountants assessment.
