Legal Question in Banking Law in India

I stopped payment of a credit card from Standard Charterd bank since August'13, due to some fraudulent transactions. I filed a dispute on some of the transactions . And despite continuous follow up, the dispute is still not resolved. I asked several times to give me a break up of the undisputed transactions and related charges and disputed transactions and related charges, but to no avail. They kept adding interest and the amount has now increased to 3 times the initial liability. The dispute is still not resolved and I have been sent some receipt on which there is somebody else's signature. I sent several mails to bank to revert all the interest and charges since filing of the dispute and I will pay the rest, but to no avail. By CIBIL history is already ruined because of this. Can bank put up a civil case against me in such scenario if I refuse to pay ? Will the interest and hence my liability keep increasing for ever ? Is it worth fighting a case against bank or should I just ignore the matter ?


Asked on 4/28/14, 7:36 am

3 Answers from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

it would have been better to pay the amount and contest the matter. the bank will charge you interest and penal interest on the unpaid amount. Please take a recourse to a legal remedy to resolve the issue.

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Answered on 4/28/14, 12:22 pm
Fca Prashant Chavan Expert Edge LLP

29.04.2014

Dear Sir / Madam,

As already advised earlier, you are hereby again advised to pay off and settle your Standard Chartered dues at the earliest, to avoid further problems for you in future.

Regards,

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Answered on 4/28/14, 8:21 pm
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

Such cases go to lok adalat and you will get a chance to present your case. if the SCB files a suit against you then there you negotiate and settle the case. You may drop in a detailed query at [email protected]

To know us better, please click on the links below:

http://www.linkedin.com/pub/rajiv-chandhok/33/7b7/82

http://www.lawguru.com/answers/atty_profile/view_attorney_profile/username#more_info

JSR/29414

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Answered on 4/29/14, 4:58 am


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