Legal Question in Banking Law in India

My freind had taken a peronnel and agent said no to worry for document he will do all.he got the loan but after six moth i come to know that the document submitted for my loan was fake so, he cleared the loan immediate and i have taken the closing letter from bank.

But Bank Manager already launch and FIR on me.so, i want to know how can he come out of this problem because he had already cleared my loan still they can take action on him ?

Asked on 7/29/13, 2:44 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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29.07.2013

Dear Sir / Madam,

The Police investigation will lead to the misdoings of the agent who procured the loan from the bank and he / she will be penalized for the misdeeds by the Police investigating the matter.

Regards,

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7/29/13, 2:47 am

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