Legal Question in Banking Law in India

Dear Legal Experts,

I had an NRE Account with Canara Bank. During the Year 2005, I had put 10,000Euros as FCNR deposit and subsequently in the year 2006, I had requested the bank for renewal of the FD for one more year. As requested, FD was renewed and got matured in the year 2007.

However, in the year 2011, bank sends me a letter stating there was a double credit to my account.

First being in the year 2006, maturing the FCNR deposit(Wrong credit) and the 2nd being upon the maturity of FCNR deposit in the year 2007.

As I disputed this with the bank, suspecting any fraudulent happenings, bank has withhold my House papers(As I had a Housing loan with them and it was cleared recently).

They had sent me a letter stating, until the double credit matter is settled they will withhold my property papers.

Kindly suggest me how should this be taken forward.

I was completely unaware of the double credit transaction which had happened 4 years ago and in a dilemma whether its correct or not.

Regards


Asked on 10/17/11, 2:57 am

2 Answers from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

You need to engage a Good lawyer to represent you and guide you in your matter. Dont be penny wise pound foolish.

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Answered on 10/17/11, 3:19 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you may approach the Bank Ombudsman and if nothing happens in your favour, you may approach the consumer court and file the complaint against bank. which bank is it?

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Answered on 10/17/11, 11:51 pm


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