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Bank recalling person loan after disbursement and one EMI paid
01-Mar-2023 (In Recovery Law)
Have sal account in Kotak bank and I took a personal loan of RS 16 Lakh directly from Kotak Bank. I required some more money so i took one more personal loan after kotak loan from other bank. One EMI of Kotak bank loan was also got deducted from my salary account. At the time of withdraw bank check my account and freeze my account for 16 lakh and cancelling the loan by saying you have took one more personal loan after kotak. This is unethical. My question is. Can a bank recall its loan after disbursement and an EMI paid on just behalf of that i have took one more personal loan
In this specific case, the terms of your loan shall be governed by the terms and conditions mentioned in the Agreement that you have signed at the time of availing the loan. You can contest the arbitrariness of the bank by filing a suit against them in the Civil Court.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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