Icici refusing to return blank cheque if I do final settlement of pers

952 votes

I have read your query regarding your case and there are lots of judgments regarding your case and bank use your cheque for recovery firstly you should demand the blank cheque and after that you can settle the amount whenever you free call me back

Advocate Gourav Sharma LawRato

820 votes

they never use your security cheque for the credit card payment, cheque was given for another purpose, if they use cheque for recovery of credit card payment you may file a complaint in ombudsman, and on you settlement you need to calculate about your benefits,

Advocate Karishma LawRato

744 votes

If ICICI Bank refuses to return a blank cheque given as security after you are ready to settle the loan or has already paid the settlement amount, you can take the following steps: Ensure you have proper proof of having paid the settlement amount, such as bank statements, receipts, or a settlement letter from ICICI Bank. This can be used as evidence in case of any dispute Escalate the issue within ICICI Bank by filing a formal complaint through their grievance redressal system. Mention that you have settled the loan and that they are obligated to return the blank cheque. If the bank refuses to return the cheque or provide confirmation of its destruction even after a formal complaint, you can file a complaint with the Banking Ombudsman. The Ombudsman is an independent body that helps resolve disputes between customers and banks. If the bank still refuses, you can file a case for recovery of the cheque or request a court order for the bank to return the blank cheque or certify its cancellation. The bank has no legal right to hold on to a security cheque once the loan has been settled, as doing so could be considered an unfair practice. As a precaution, you can issue a stop payment instruction with your bank on the cheque. Inform them that this cheque was given as security, and you have settled the loan. This will help prevent the bank from using the cheque.

Advocate Vrinda Mishra LawRato