Legal Question in Banking Law in India

Re: Banking

I don't know how easily you people can be trapped in such people's net.It is funny that the bank people are pressurizing you for signing as an introducer and you believed that you are the defaulter.I advise you to lodge a complaint in the police station against the people whoever are intimidating you u/s 420.You may also raise doubts with the oficials of the bank about what kind of security the bankers have against the loan.

Re: Banking

If you intruduce the wrong person with wrong name. like you mention his name is wrong then you are responsible for 420 and 120-B IPC.

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Re: Banking

So far as savings bank account is concerned if any cheque favouring Janardan Rai is collected and the real Janardan Rai who is his father in law and if the latter complains convesion of his cheque it is possible for the Bank to file a case against you and Aspatali Rai for cheating, misappropriation etc. But so far as the housing loan is concerned if you have not involved yourself, the Bank cannot claim anything from you. But if his father in law complains that his title deeds have been deposited in his name by some other person even if it be his son in law Aspatali Rai,and he has been cheated, it is possible for the Bank to involve you in their complaint for impersonation, as you have by introducing the wrong person in the name of Janardan Rai, conspired with Aspatali Rai to cheat the Bank. Be prepared to meet the eventuality with the assistance of local lawyer.

Re: Banking

There would not be any issue against you in respect of the introduction of the person. However, since bank has given loan the bank should have conducted the necessary KYC procedure prior to giving loan.

Re: Banking

You may have no responsibility towards the bank particularly when the bank is dealing with him for the last six years.