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Procedure to get the loan closed and obtain NOC from Bank
29-Aug-2023 (In Banking / Finance Law)
I bought a loan from bajaj finance for constructing a modular kitchen in my home .The bajaj company credited the loan amount to dealer account and the dealer didn't complete the work. And after sitting together with bajaj manager and the dealer , the modular kitchen dealer agreed to pay back the credited loan amount to bajaj through a cheque and gave it to bajaj manager. Now the bajaj manager didn't produce the cheque in bank to retrieve the money. This reflects the loan as active and making us to pay monthly EMI in order to maintain cibil score. I request some body available here please help me in this situation and get me the loan closed and a letter of NOC from bajaj.
Hi,
From your query, it is not clear whether all communications between you, dealer and the banker is written one. If there is written communication, then you can immediately issue a legal notice seeking damages for the mental agony you suffered due to the deficiency in service by the bank. If there is no written communication then write a letter with all factual points to the banker with cc to the dealer and give few days time for the bank to act and if it fails then initiate legal proceedings under Consumer Protection Law.
From your query, it is not clear whether all communications between you, dealer and the banker is written one. If there is written communication, then you can immediately issue a legal notice seeking damages for the mental agony you suffered due to the deficiency in service by the bank. If there is no written communication then write a letter with all factual points to the banker with cc to the dealer and give few days time for the bank to act and if it fails then initiate legal proceedings under Consumer Protection Law.
Helpful?
Adv. Shobhan M P
Chennai | 100+ Answers
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