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My Axis Bank home loan application was approved, but they insisted on a blank cheque, even though I explained my concerns. I reluctantly provided one. Later, they sent a cheque for â‚¹5,200 to my SBI account for processing charges without any notice, which bounced. This resulted in my loan being cancelled. Can you advise me on how to proceed with a complaint against the bank and manager?

My Axis Bank home loan application was approved, but they insisted on a blank cheque, even though I explained my…

Banking / Finance

2967 views1 answers312 votes

Apni Law answered 2 years ago

My mom and I are planning to buy an apartment together. I’m planning to take a home loan, but I don’t want the property to be in my name. Is it possible to have the ownership solely in my mother’s name while I contribute half the payment through the loan and she contributes the other half? Could you advise me on this?

My mom and I are planning to buy an apartment together. I'm planning to take a home loan, but I…

Banking / Finance

3122 views1 answers329 votes

Apni Law answered 2 years ago

My family faced a tough situation when our loan was declared a non-performing asset (NPA) and the bank served us a 13(2) notice. We submitted detailed objections, spanning 48 pages, to the bank. Unfortunately, my mother fell critically ill during this time, so I requested the branch officials to visit her and collect the documents. The Branch Manager received the copies and I even handed over copies for the Chief Managing Director (CMD) and the Account Officer (AO). Despite this, the bank issued a 13(4) notice and the case went to the Debt Recovery Tribunal (DRT). During the proceedings, the bank’s lawyer acknowledged receipt of our objections but argued that since they were given to the Branch Manager instead of the AO, no reply was provided. We, however, believe that the SARFAESI Act of 2002 clearly states borrowers can submit their objections to either the Secured Creditor or the AO, while the reply should only come from the AO. As the loan agreement was signed with the bank manager, who is the representative of the secured creditor, handing over the copies to him shouldn’t be considered wrong. We believe this case should be revisited due to the bank’s failure to respond to our valid objections.

My family faced a tough situation when our loan was declared a non-performing asset (NPA) and the bank served us…

Banking / Finance

3426 views1 answers358 votes

Apni Law answered 2 years ago

I took two loans from the bank, one for â‚¹4 lakhs and another for â‚¹4.5 lakhs. The â‚¹4 lakh loan doesn’t have any security deposit, but the â‚¹4.5 lakh loan requires a â‚¹15 lakh deposit. I need to repay the â‚¹4 lakh loan and want to use the â‚¹15 lakh security deposit to do so. The bank manager won’t allow this, even though the deposit seems excessive for the loan amount. Is there any way I can use this deposit to pay off my â‚¹4 lakh loan?

I took two loans from the bank, one for â‚¹4 lakhs and another for â‚¹4.5 lakhs. The â‚¹4 lakh loan…

Banking / Finance

3471 views1 answers359 votes

Apni Law answered 2 years ago

Can lenders in India seize a vehicle pledged as collateral without going through the courts, especially if it would cause hardship to the owner?

Can lenders in India seize a vehicle pledged as collateral without going through the courts, especially if it would cause…

Banking / Finance

3503 views1 answers361 votes

Apni Law answered 2 years ago

I took a furniture loan from Bajaj Finserv for 8 months. I paid the first 3 EMIs but lost my job and couldn’t pay the remaining 5. Yesterday, a Bajaj lawyer called saying they’re filing a case against me for cheating and I could be arrested for 15 days. They want me to pay at least 3 EMIs by today (around 50,000 rupees) to stop this. I’m willing to pay my dues but need time. They won’t listen or give me an appointment. Can they really arrest me or send police to my home? What can I do?

I took a furniture loan from Bajaj Finserv for 8 months. I paid the first 3 EMIs but lost my…

Banking / Finance

3527 views1 answers367 votes

Apni Law answered 2 years ago

My credit card was hacked and money was stolen from the UK. My bank is asking me to pay even though it’s a clear fraud. I’ve reported it to the Cyber Crime Police and the Banking Ombudsman has advised the bank to settle the case. But, they still want me to pay everything. What should I do next? My CIBIL score has been affected too.

My credit card was hacked and money was stolen from the UK. My bank is asking me to pay even…

Banking / Finance

3663 views1 answers375 votes

Apni Law answered 2 years ago

I purchased a house in Tirupur three years back. Many of the promises made by the builder haven’t been fulfilled. It’s been five years, and the building remains incomplete. The bank is now looking to auction the property. What steps can I take to ensure I’m not held liable for any deficiencies in the sale?

I purchased a house in Tirupur three years back. Many of the promises made by the builder haven't been fulfilled.…

Banking / Finance

3908 views1 answers399 votes

Apni Law answered 2 years ago

My Bajaj personal loan EMI is due this month, but I’m facing a tough financial situation. I’ve been making payments regularly for the past two years. Is there a way I can get a 6-month extension on my EMI payments?

My Bajaj personal loan EMI is due this month, but I'm facing a tough financial situation. I've been making payments…

Banking / Finance

3959 views1 answers403 votes

Apni Law answered 2 years ago

My family took a home loan EMI from Central Bank’s Seshadri Road branch to buy an apartment on Begur Road. The builder has disappeared and construction has stopped. We are considering legal action. Is there any way to stop paying the EMI to the bank while we resolve this? Please advise.

My family took a home loan EMI from Central Bank's Seshadri Road branch to buy an apartment on Begur Road.…

Banking / Finance

4022 views1 answers410 votes

Apni Law answered 2 years ago

We started a steel business and took a loan from the bank. Unfortunately, things didn’t go as planned, and we had to shut down the business. To keep up with the loan interest, we borrowed from friends and family, but we can’t manage anymore. We wrote to the bank requesting a one-time settlement, but they’re not agreeing and keep demanding the interest. Since it’s a business loan, we don’t have the stock left due to heavy losses. The bank is threatening legal action for the inaccurate stock statement we submitted. We want to sell our property to settle the loan. Is there any way to avoid legal proceedings despite the false stock declaration?

We started a steel business and took a loan from the bank. Unfortunately, things didn't go as planned, and we…

Banking / Finance

4014 views1 answers410 votes

Apni Law answered 2 years ago

My mother took out an education loan of â‚¹3 lakh for me in 2011 and â‚¹4 lakh for my sister in 2012. The bank manager later informed her that she hadn’t provided security for the 2011 loan and needed to submit it for both loans. She deposited â‚¹10 lakh in a MIS account, allocating â‚¹4 lakh for the 2011 loan and â‚¹6 lakh for the 2012 loan. We’ve recently been told that the entire security deposit is only for the 2012 loan. What legal options do we have to release the security deposit and repay the 2011 loan?

My mother took out an education loan of â‚¹3 lakh for me in 2011 and â‚¹4 lakh for my sister…

Banking / Finance

4049 views1 answers411 votes

Apni Law answered 2 years ago

My family is facing a serious issue in Tirunelveli. A person who previously helped us has filed a complaint with the police, claiming we owe her a large amount. Even though I explained the truth, the police are demanding a settlement. I’ve made payments in installments, but I can’t keep up with the demands. Now, she’s threatening to escalate the situation again. I’m completely lost and need guidance on how to proceed. Should I seek legal help from a lawyer to issue a legal notice?

My family is facing a serious issue in Tirunelveli. A person who previously helped us has filed a complaint with…

Banking / Finance

4082 views1 answers413 votes

Apni Law answered 2 years ago

I recently won a case in the lower court. The judgment only mentions one bank. I’d like to add a few more, including Swiss banks, but they require a succession certificate to release account details. Is there a way to include Swiss banks in the certificate, perhaps by paying a small fee?

I recently won a case in the lower court. The judgment only mentions one bank. I'd like to add a…

Banking / Finance

4093 views1 answers417 votes

Apni Law answered 2 years ago

My friend is going through a difficult time after her husband’s sudden passing at the age of 36. She’s still coping with the shock, and now her in-laws are trying to control his finances. My friend is unemployed and has a 5-year-old child with special needs (cerebral palsy). She has no income. Her husband had a Provident Fund account. Who is entitled to that money â€“ his parents or his wife? I don’t know if he nominated anyone when he started working. Any guidance would be greatly appreciated.

My friend is going through a difficult time after her husband's sudden passing at the age of 36. She's still…

Banking / Finance

4182 views1 answers424 votes

Apni Law answered 2 years ago

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