Legal Question in Banking Law in India

Hi,

My name is : Nittin Aggarwal and I have took education loan from SBOP in 2004 from Palam Branch. I started pay the EMI (i.e 2830) from jan 2008 onwards. In Jan 2009 I lost my job and after two months I talked to Manager and request to stop my EMI for three months. They stopped my EMI from April 2009- June 2009 but In july they didn't deduct the EMI from my Account even In August they didn't drop a check in a particular time frame (i.e 10/aug/2009). In end of August they started drop the check of july and august without my confirmation but due to insufficient balance the check was bounced and bank deducted the some amount from my Account. I went there and told him that please do not drop previous month EMI cheque I will pay it in future you just drop the current month EMI cheque but In september they again drop these cheque and again bank deduct some amount from my account. I have already paid the EMI of the month of september.When I went there for asking this question they told me that your case has been transfer to the Naraina branch but when i went there no body know who is handling my case.

I want to know that what bank can take action against me and what i can take action against bank


Asked on 9/30/09, 6:21 am

4 Answers from Attorneys
J. Radhakrishnan independent Practice

Better send a letter to both Palam Branch as well as SBOP with copy to DBOD of Reserve Bank of India explaining your circumstances and seeking rephasement of the repayment Schedule and avoid presenting the earlier cheques deposited with them, offering to make fresh arrangement for payment of the EMIs as per the reschedulement. If they don't respond properly better complain to the Managing Director of the Bank with copies to DBOD of RBI and Banking Division of Finance Ministry. If you don't get proper response, complain to the Banking Ombudsman of Delhi, the procedure for which you can ascertain by accesing RBI website.

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Answered on 9/30/09, 7:45 am
Pawan Jangid

I Agree to Mr. Radhakrishnan.

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Answered on 9/30/09, 2:20 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

I agree.

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Answered on 10/01/09, 10:56 pm
Seshadri Srinivasan www.lawconcern.com

Bank has done the correct thing about depositing the cheques which have dates. But if you can prove that you had requested them not to present these cheques, then you can issue lawyer notice and file case.

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Answered on 10/04/09, 6:22 am


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