Legal Question in Consumer Law in India
I took home loan of Rs 12.5 lacs from SBI. The xerox copy of the cheque was issued to me on 10th OCt'08 but due to some reasons the builder took the cheque from me on 27th Oct'08 ont he date of sale deed. The bank has now charged the interest of those 17 days as Rs. 7450. Is it fair as the cheque was never utilized during those days.Can I do something on this?
Asked on 10/12/09, 3:32 am
1 Answer from Attorneys
Seshadri Srinivasan
www.lawconcern.com
Yes, the bank is correct. Interest will be counted from the date of handing over of cheque to you, particularly when you must have also issued a receipt for the cheque as well.
Answered on 10/12/09, 6:00 am
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