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Author Topic: Responsibility of bank in case of litigation?  (Read 678 times)

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Offline msgforsunil

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Responsibility of bank in case of litigation?
« on: January 07, 2014, 09:50:43 PM »
Hello All,
I have a site, which has gone into litigation.  It appears that the seller has sold me with fake documents. Having taken a bank loan, who has validated the property documents;
What would be the responsibility of bank?
How would bank handle such cases?
Can I take an action against bank?
Appreciate more inputs on this.
Thanks
Sunil Kuma

Offline Advaradhyakirmani

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Re: Responsibility of bank in case of litigation?
« Reply #1 on: January 09, 2014, 10:00:30 PM »
Immediately file an FIR, make the bank a Co accused.

and proceed for a stay in the bank loan matter, so that till the matter is solved you do not pay any further loan
Adv.Aradhya Kirmani
Expert in Civil and criminal laws

Offline msgforsunil

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Re: Responsibility of bank in case of litigation?
« Reply #2 on: January 12, 2014, 10:32:27 PM »
Thanks for your response. 
Couple of questions.

1. May I know what would be the procedure, to stop the loan until its resolved? 
2. Would it impact my credit/CIBIL rating?
3. What actions are bank liable to take against me on stopping of payment?
4. How long would it take to stop the loan payment?

Thanks
Sunil Kumar

 

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