• Furnishing of wrong information by CIBIL

Dear Sir

I have applied home to HDFC in May,2016 . Bank after checking of my CIBIL details , reported 3 Nos loans availed by me from SBI . For getting details , I had applied for CIBIL Scores with CIBIL three times . After much persuals , I could get my CIBIL score . I was surprised to see that 3 Nos SBI loans shown in details were never availed by me from SBI also there was lot of dependencies in report . Actually report was mixed with reports of other individual .

I made complaint to CIBIL . CIBIL sent revised report but this time some of details pertaining to me was also removed . What was more intresting that 2 Nos loans which I had actually availed from  Barclays bank and DHFL were not appearing in either of reports provided by CIBIL . I have reported matter to CIBIL but CIBIL surprisingly reported that they maintain details received from financial institutions/Banks and to contact financial institution if I wish CIBIL report of specific institution to appear in report . 

As you may see from above , I have to pay to CIBIL though they provided wrong reports for which I have suffered mental stress , mental agony , defamation (3 Nos SBI loans reported by CIBIL which I had not availed) . Also wrong report by CIBIL is misleading to banks/FIs (My loans availed from Barclays and DHFL not appeared in either reports) .

Please advise legal course that I may initiate against CIBIL 

with regards

Rajeev Kumar Sharma
Asked 2 months ago in Civil Law from Jammu, Jammu and Kashmir
CIBIL does not take any responsibility or onus for correctness of data provided.

2) if banks have given wrong information to CIBIL banks shoukd compensate borrower for mental agony suffered by borrower 

3) your remedy is against banks that have given wrong information
Ajay Sethi
Advocate, Mumbai
23389 Answers
1229 Consultations
5.0 on 5.0
1. CIBIL as an organisation do not submit any report. They just capture the statements from the member Banks and after processing, show the result stated in those financial statements.

2.CIBIL is given the password of the central HUB/SERVER of the member Banks from where they capture the required latest financial position of the individuals.

3.  It is possible that some Bank has mixed up your name with some other individual for which such an incorrect report has been shown in CIBIL statement.

4. Contact the said Banks and you can act against them if any fault could be found by you in their maintaining your accounts.

5. Make sure that  Barclays and DHFL  are member Banks/Institutions of CIBIL to enable them to show/process  their records.
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
233 Consultations
5.0 on 5.0
1. You can file a suit for damages against CIBIL in the civil court as you had to suffer loss or reputation and also an injury to your prospects of obtaining further loan due to the incorrect report of CIBIL.

2. Since the loans obtained from two banks are missing from the CIBIL report this is a case of deficiency in service by those banks, so you can move the consumer forum against the banks to seek directions to forthwith send the information to CIBIL and also claim compensation.
Ashish Davessar
Advocate, Jaipur
18261 Answers
450 Consultations
5.0 on 5.0
Dear Rajeev
CIBIL is only a data maintaining company and only show the data received by the financial institutions/Banks, if there is no Loan from SBI and CIBIL mentioned the same in your credit score and due to this your Loan could not be sanctions by HDFC then first of all issue a legal notice to SBI & CIBIL and claim compensation for defamation and mental pain, if they are not ready to pay then immediately file a civil suit for defamation before civil court and claim compensation for the same.

Feel Free to call
Nadeem Qureshi
Advocate, New Delhi
3537 Answers
130 Consultations
4.9 on 5.0
1) CIBIL   houses only credit information i.e. information on loans and credit cards. received from banks and financial institutions 

2) if wrong data has been given by banks you should seek compensation from banks 
Ajay Sethi
Advocate, Mumbai
23389 Answers
1229 Consultations
5.0 on 5.0
1. CIBIL will not award any compensation unless ordered to do so by the court.
2. As I said before, your remedy is only before the courts. Do not waste your time writing further letters.
Ashish Davessar
Advocate, Jaipur
18261 Answers
450 Consultations
5.0 on 5.0
CIBIL do not generate any information about any individual on its own.  
It creates records based on the information supplied/furnished by the financial institutions/banks.
Since in your case there appeared some erroneous reports, the CIBIL could not update the details, however after your continuous efforts, the CIBIL clarified the details and made your records straight.
As far as the barclays bank and DHFL loan details, the said institutions might not have reported the matter to CIBIL, may be because there is no default of loan repayment or there wont be any outstanding loan amount in their records to report to CIBIL, hence the agency is devoid of such details pertaining to your case. 
If your problems are solved, why do you want to kindle the dormant things which may bring adverse impact to your proceedings. 
T Kalaiselvan
Advocate, Vellore
14170 Answers
128 Consultations
5.0 on 5.0
Seeking compensation from CIBIL will be of no use because they are just watch dog agent to report the default or outstanding loan details of a loan defaulter to hint and warn the other financial institutions to be careful while dealing with such individuals for processing their loan requests.
Since the CIBIL rectified the particulars and have given clean chit over the issues of concern that you objected to them, there is no further action against them,. but you may claim compensation against the SBI for furnishing wrong information to CIBIL due to which you have reportedly suffered losses in business as well as suffered mental tensions. 
The  particulars of loan with other banks need not appear in the CIBIL report if you have been regular in repayment.
T Kalaiselvan
Advocate, Vellore
14170 Answers
128 Consultations
5.0 on 5.0
You can file complaint before consumer forum if you so desire and seek compensation for mental torture as advised earlier 
Ajay Sethi
Advocate, Mumbai
23389 Answers
1229 Consultations
5.0 on 5.0
1. As stated in my earlier posting, CIBIL does not publish any report of its own. it captures the financial statements from the servers/hubs of the members Bank and in case of any mistake, it the concerned bank responsible for it and not CIBIL.

2. The reports about the loans taken from the banks who are not the members of CIBIL will not be reflected in the related CIBIL report of the individual.

3. You are required to take up the matter with the concerned Banks who has mixed up your name with that of others.
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
233 Consultations
5.0 on 5.0
1. As mentioned earlier, CIBIL do not independently prepare any report.

2. It captures data from the HUBs/SERVERs of its member Banks about the concerned individual to process and show the financial and other positions based on those data.    
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
233 Consultations
5.0 on 5.0
Dear Mr. Rajeev Kumar Sharma,
Your sufferings and feelings can be understood but that cannot be addressed legally by taking any action against CIBIL.
For your information I had sent a legal notice on behalf of one of my clients to CIBIL venting out my client's grievances which were similar to that of yours.
In reply, CIBIL replied as follows:
    Credit information bureau (India) limited (CIBIL) is engaged in the business of collating credit information submitted to us by various member banks and financial institutions and providing credit reports to such banks and financial institutions and functions as a credit information company (CIC) in accordance with the provisions of the The Credit Information Companies (Regulations)Act, 2005 (CICR Act) and the rules and the regulations made there under.  CIBIL thus is a repository of the credit information received by it from its members and is not obligated to verify the information submitted by such member banks/financial institutions. 


From the above contents, which were the words of CIBIL, it can be understood that any complaint against them are not maintainable, therefore without ascertaining the facts or becoming aware of the law in this regard, please do not pass vague remarks against the opinions rendered by lawyers here.  We take pain to give more proper and authentic opinions here for the benefit of the clients approaching this forum with their problems.  It is left to you to decide further on this. 
 
T Kalaiselvan
Advocate, Vellore
14170 Answers
128 Consultations
5.0 on 5.0
You have been wronged for sure by CIBIL and banks, so you are free to sue them for damages. 
Ashish Davessar
Advocate, Jaipur
18261 Answers
450 Consultations
5.0 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

Civil Lawyers

T Kalaiselvan
Advocate, Vellore
14170 Answers
128 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23389 Answers
1229 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18261 Answers
450 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
233 Consultations
5.0 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3537 Answers
130 Consultations
4.9 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2792 Answers
41 Consultations
4.9 on 5.0
Atulay Nehra
Advocate, Noida
444 Answers
15 Consultations
4.7 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
873 Answers
43 Consultations
5.0 on 5.0
Ajay N S
Advocate, Ernakulam
1918 Answers
19 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1954 Answers
66 Consultations
5.0 on 5.0