Furnishing of wrong information by CIBIL
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
Rajeev Kumar Sharma
Asked 8 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
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.
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.
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
Advocate, New Delhi
Loan from HDFC was also appearing in CIBIL report which I had not availed from HDFC . I had successfully explained fact to HDFC so HDFC had approved my Loan and disbursed same .
But the following are also facts :
1. CIBIL has reported 3 Nos loans availed by me from SBI which I had not availed from SBI
2. CIBIL has also reported loan availed by me from HDFC which I had not availed from HDFC
3. Some of details pertaining to me were not appearing in revised report issued by CIBIL
4. Loans availed by Barclays bank and DHFL were not appearing in either reports of CIBIL
5. I had to spent valuable time and money for getting CIBIL reports
6. I had suffered defamation , mental agony by the business of CIBIL
I have already sent letter to CIBIL and SBI . I have also asked CIBIL for compensation but CIBIL has not made any compensation .
Pls advise further course of action
Rajeev Kumar Sharma
Asked 8 months ago
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
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.
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.
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.
Kind Attention : Sh. T. Kalaiselvan
As my problem got solved , doesn't mean that CIBIL can not be booked for its deeds . Only I know how horrible experience it was to get report from CIBIL and its rectification by CIBIL .
Due to CIBIL only I had to waste my valuable money and time . Also till correction of reports , I have suffered lot of mental stress , agony and defamation . Definitely law should exist to book CIBIL for its deeds
Asked 8 months ago
You can file complaint before consumer forum if you so desire and seek compensation for mental torture as advised earlier
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.
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.
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.
You have been wronged for sure by CIBIL and banks, so you are free to sue them for damages.