• Excess interest charged by housing finance company

I had a loan from DHFL. They are charging interest fraudulently before the disbursement cheque getting banked. say for example, when you submit your file say on 1st jan 14 and finally disburse the loan on 25th Jan 14, (date when the money actually gets credited to builder account) they will charge for the interest from 1st onwards citing that they had processed the case on 1st itself when we applied.
 
Also when I closed the loan, they have charged me interest for the entire month of January when I had handed over the draft from other bank on 11th Jan 14 citing company policy. 

Are they justified in open looting of their clients and does this not constitute fraud and cheating on their part with the clients? What is the legal remedy available to me?
Asked 3 years ago in Business Law from New Delhi, Delhi
You have following options:

1. File a case in consumer court; or,
2. File a criminal complaint for cheating and extortion.

thanks
Feroz A. Shaikh
Advocate, Mumbai
407 Answers
58 Consultations
4.4 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Business Lawyers

T Kalaiselvan
Advocate, Vellore
16543 Answers
153 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
26173 Answers
1421 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
19239 Answers
485 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
13228 Answers
280 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
6495 Answers
72 Consultations
4.9 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3722 Answers
140 Consultations
4.9 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2998 Answers
45 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
946 Answers
64 Consultations
5.0 on 5.0
Shashidhar S. Sastry
Advocate, Bangalore
1281 Answers
66 Consultations
5.0 on 5.0
Anilesh Tewari
Advocate, Lucknow
60 Answers
0 Consultations
5.0 on 5.0