Legal Question in Banking Law in India
I would like to know I have applied for personal loan but agent has submitted wrong bank statement, but till now I did not take any amount from them as borrower.
Now they are saying that they will take legal action on me. I have contact through many financial institute regarding CC application where even i didn't applied. Do they have any right to take action against me under IPC 420.
Asked on 2/09/16, 2:00 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
09.02.2016
Dear Sir / Madam,
No. The Bank is legally entitled to initiate legal action only after you have signed the Loan Agreement, and. if you have availed of the loan by concealing or misrepresenting facts.
Regards,
Answered on 2/09/16, 2:07 am
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