You are at liberty to file case against bank before consumer forum for disbursal of funds in your case contrary to RBI guidelines
Wanted to file Consumer case Complaint against ICICI bank
Dear Sir, Ref.: RBI Master Circular DBOD No. Dir. BC.17/ 08.12.001/2013-14 dated July 1 2013. Sub.: Violation of above Master circular by ICICI Bank - Commissariat Road Branch, Bengaluru. I wish to bring to your kind notice the following violation of your above RBI Master circular by ICICI Bank - Commissariat Road Branch, Bengaluru in the housing project floated by Ithaca Estates Pvt. Ltd. having their Escrow account with ICICI Bank - Commissariat Road Branch, Bengaluru. ICICI Bank have granted housing loans to several individual buyers in the project of Ithaca Estates Pvt. Ltd./Skylark Mansions Pvt. Ltd. known as Skylark Ithaca with a facility for payment called ΄Subvention Scheme΄ wherein the disbursal of instalments is not linked to the stages of construction of the housing project. The disbursal of instalments have been made upfront in direct violation of RBI’s above Master circular, clause 3(f)... ΄Banks are advised that disbursal of housing loans sanctioned to individuals should be closely linked to the stages of construction of the housing project/houses and upfront disbursal should not be made in cases of incomplete/under-construction/green field housing projects.΄. Bank had disbursed around 90% of loan amount without any construction. Can I file a consumer case against the ICICI bank ? Please advice
Asked 5 years ago in Property Law
Religion: Hindu
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14 Answers
1. YES. A grievance petition can be filed in the local consumer court, against the Bank and the Builder (Both) for Trade Malpractice, Negligence and other factors, supported by all relevant documentary evidences & witnesses affidavits.
2. All relevant losses, damages and compensations can be claimed for the gross harassment including mental & physical agony.
3. Further IF the builder has discontinued or stopped the project, THEN a criminal case also can be filed against the Builder and the conniving Bank, for Breach of Trust, Fraud, Cheating, Causing monetary loss to you.
are u s consumer of Bank?
You can file a consumer case against ICICI bank for the unfair trade practices adopted by them and can claim compensation from them for which you would need documentary evidence to prove your statement before the court.
Under subvention scheme builder bears the interest till the end of subvention period. Bank pays the entire balance 80% or 90% to the builder irrespective of construction progress. So if you have made agreement under subvention scheme, then even you file complaint to consumer forum bank may get an easy exit based on agreement among you bank and builder.
1) Yes, you can file case against ICICI Bank by giving RBI's circular reference.
2) File case in the Consumer Forum plus with RBI and the project not completed by builder in RERA.
You can only file complaint if you are consumer of the said bank. Other wise it will not be maintanable
If you are affected by the act of the bank and if your grievances in this regard has not been properly redressed by bank and you have been made to suffer hardship and difficulties by their such ac t, you can approach consumer forum seeking redressal of your grievances and for releif and remedy.
Is there any deficiency in service?
Is there any unfair trade practice?
In what way this act of the bank has aggrieved you?
You may ascertain the facts and see if it is worth enough to approach consumer court and decide after that.
The pre-emi/ interest is paid by the builder in said scheme so in case you have opted for same scheme the bank may her valid defence to contest your complaint showing that there are no damages caused to you and bank has paid as per the agreement.
Yes, you can file case against icici before district consumer forum.
Dear Sir,
You can get issue a legal notice from my office and then file a consumer case by yourself and continue the same. There are chances of getting not only amount but also compensation.
Dear client
Yes you can file complaint in consumer court is you are aggrieved by this step of bank due which you have to suffer some financial loss or mental harassment.
But My suggestion is If bank not follow RBI Guideline in loans,then you can write complain against that bank to Banking Ombudsman (https://bankingombudsman.rbi.org.in) definitely they will take necessary action against that particular bank.
And if this doesn't work than the option of consumer court is available with you.
Hello,
yes you can file a case for the deficiency in services and for violations of the conditions prescribed by the RBI.
go ahead and file a case against the bank.
regards
yes you can file consumer complaint against ICICI bank
