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Can i recover the charges for loan when cancelled loan application


07-Jun-2023 (In Recovery Law)
Hello. I applied for a loan under pmegp via some company. They charged me 2500 rs for the business profile. Then they verified it and said they attempted to transfer my loan money but it won't transfer. They asked again for 6k as a transaction price. And then they promised that I have to make insurance of 17k and its refundable. After it, they said its bank servers problem and money will be transferred next day. Next day they said I have to deposit 30k as a contribution money. Which I couldn't afford so my file is closed and I couldn't get my 17 k back. Is there any legal actionns ?
Answers (1)

Answer #1
306 votes
It is a general rule that all the processing fees and other charges levied on the application of the loan are not refunded. 
We need to go through your terms and condition mentioned in your application to give you a correct legal advice.
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Advocate Chikirsha Mohanty

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