quesTook education loan now bank is asking for pay penalty

My daughter availed a student loan for study abroad from Bank of India in August 2014. The bank is now asking me to pay stamp duty plus penalty. No notice had been served on me by anyone before imposition of such penalty. What shall I do ?

  • ansDear sir,

    I think no stamp duty or penalty can be claimed at this stage. loan is already taken and there is no provision to impose penalty or stamp duty on customer without intimation or their consent.

    Advocate Sunil Kadam

      Fort, Mumbai

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Banking / Finance Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
  • IPC Section 201 - Causing disappearance of evidence of offence, or giving false information to screen offender
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