• Personal loan default

I had taken a loan from a co-operative bank through some agent in 2014. I had applied for 2L, instead I got only 1L. Remaining 1L was taken by the bank officials and agent. Due to some family problem, I moved to my home town and didn't pay the loan. Now I am back and working. But the bank people have send a letter to my salary account bank, and they have freezed my salary account. I am not able to withdraw any amount. Today I went to settle the loan with min amount. But bank people behaved rudely and didn't consider my request. Please suggest me what to do?
Asked 4 years ago in Civil Law

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17 Answers

Unless there is an order from court bank cannot freeze Ur account. You can issue legal notice and approach consumer court for reliefs

Amit Pai
Advocate, Mumbai
53 Answers
3 Consultations

4.4 on 5.0

1. Bank loans are easily available now a days by visiting Bank without going through any broker.

2. You might have given a mandate to take the EMIs or outstanding amount from your bank where your salary amount gets credited by virtue of which your salary account has been frozen.

3. If you have not given any such mandate and if your salary account is not in the same co-operative bank from where you had availed the loan, then your salary account bank has no business to allow your account to be frozen with out any Court order.

4. In the said event lodge a complaint to the Ombudsman of your bank where the salary gets credited.

5. Meantime, negotiate with the lending bank to get out of the debt trap since you shall have to repay the loan you have availed from the bank.

Krishna Kishore Ganguly
Advocate, Kolkata
26470 Answers
726 Consultations

5.0 on 5.0

Hello sir , how can they take a commission of 1 lakh .. It was a illegal act done by the officials .. It is required that you file a criminal case of cheating against the officials ..

Hemant Chaudhary
Advocate, Gurgaon
4617 Answers
65 Consultations

4.9 on 5.0

You are liable to repay Rs 2 lakhs with intetest

2) if you fail to repay loan bank will take recovery proceedings against you to recover dues with interest

Ajay Sethi
Advocate, Mumbai
87212 Answers
6048 Consultations

5.0 on 5.0

1. If the said two banks are different then your bank has no right to freeze your account.

2. Write a letter to the ombudsman of your bank lodging complaint against your branch manager for arbitrarily freezing your account with out any Court order based on a letter issued by another bank in connection with your outstanding standing with them on a disputable matter.

Krishna Kishore Ganguly
Advocate, Kolkata
26470 Answers
726 Consultations

5.0 on 5.0

Please send both bank legal notice firstly stating you are ready to make payment. Secondly without notice they can't freeze your account as such you send legal notice to new bank. If they don't respond take injunction against bank authorities from court not to freeze your account till disposal of suit.

Swarnarka Chowdhury
Advocate, Mysore
1878 Answers
5 Consultations

5.0 on 5.0

Approach the High Court so that the bank from your salary account is lifted.

Any recovery of loan has to be done strictly in accordance with the loan agreement you entered into between you and the co-op bank and not otherwise. The ban on your salary account is illegal and you must approach the court to get it lifted m

Vibhanshu Srivastava
Advocate, New Delhi
9422 Answers
235 Consultations

5.0 on 5.0

Firstly, file a suit on bank for recovery of your amount from the bank.

Secondly, disclose each and everything including the actual amount of Rs 1 lakh.

Thirdly, file a criminal complaint also against the agent and all if you happen to have any document to show that you asked for 2 L loan but they gave only 1 L and rest had been fraudulently taken by them.

Say you didn’t do anything as they promised to transfer the same and that is why you stopped payment.

Rest you can consult me for better detail suggestions.

Sanjay Baniwal
Advocate, South Delhi
5464 Answers
13 Consultations

5.0 on 5.0

Challenge such action of the bank before the appropriate court, they do not have any right to freeze your bank account

Anilesh Tewari
Advocate, New Delhi
17923 Answers
367 Consultations

5.0 on 5.0

If it is a private bank then file a suit for permanent injunction before the civil court if it is a government bank then prefer a writ before the Hogh Court

Anilesh Tewari
Advocate, New Delhi
17923 Answers
367 Consultations

5.0 on 5.0

You need to discuss the closure of the personal loan account and ask your bank on what basis they freezes your account.

If you are holding the account in the same bank with different branch this could be a possibility.

Vimlesh Prasad Mishra
Advocate, Lucknow
6848 Answers
23 Consultations

4.9 on 5.0

File a complaint to the Banking Ombadsman with all the documentary proofs and bank statement explaining all the agonies you have faced due to the acts of the co-operative society.

the Banking Ombadsman has the right to rectify any misappropriation of fund by the Bank.

Rajashekar
Advocate, Bangalore
584 Answers
4 Consultations

4.8 on 5.0

Dear Sir,

You have done a wrong thing. The co-operative banks have its own summary procedures to dealt with recoveries. You may otherwise teach them a lesson by filing a private complaint for having assulted you and having rudely behaved with you, think of this suggestion to bring them to terms.

Kishan Dutt Kalaskar
Advocate, Bangalore
6049 Answers
363 Consultations

4.8 on 5.0

It becomes your duty to repay the loan once you have borrowed it agreeing to repay the same with interest.

You cannot come out with your own reason to not to repay or willing to pay only a minimal amount.

Your stand is not justified.

The loan against your name is 2 L though you may have paid commission to brokers and bank staff.

You cannot claim that yo have paid bribe to bank staff, you can be charged for the offences of giving bribe

The bank has rights to recover the loan amount in a proper and legally valid manner.

You may approach court seeking to restrain the bank from freezing your salary account or can write to the top management of the bank to restructure the loan and undertake to repay them regularly in future.

T Kalaiselvan
Advocate, Vellore
77366 Answers
1458 Consultations

5.0 on 5.0

Co-operative bank people had send some Arbitral letter to my bank. And basis on that my bank has freezed my account. N I am not even able to withdraw any amount for my expenses.

You have to take steps to de-freeze the account by talking or writing to the top management of the bank

Alternately you can change your bank for the salary purpose

T Kalaiselvan
Advocate, Vellore
77366 Answers
1458 Consultations

5.0 on 5.0

you can file a suit with banking ombudsman for further query pls call on

Anwar Zaidi
Advocate, Mira Bhayandar
231 Answers

4.5 on 5.0

Contact the head office and try to resolve the issue. You need to check under which provision they have freezed your salary. You can also approach Consumer court for the deficiency in service for the same.

Prashant Nayak
Advocate, Mumbai
26719 Answers
79 Consultations

4.4 on 5.0

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