Legal Question in Banking Law in India

I have introduced an Saving Bank account in the name of Janrdan Rai, latter on Bank has given loan to Janrdan Rai to construct a building by mortgaging his plot of land

It was found latter on that actual name of borrower is Aspatali Rai but his wife's name and identity is real who is co-borrower, the property he has mortgaged is of his father-in law. Bank has sent him notice and he has deposited and still depositing money in the Bank, his address is very well known to the bank and Bank has release loan in 4 installments, but he has constructed a house over his own land not over the land, as mortgaged with the Bank now question is

1. How I am responsible particularly borrower has not committed any fraud in Saving Bank account

2. since 7 years Bank is in touch with the borrower and his wife, whose name and identity is real.

3. Bank accepts the money from borrower but did not file any FIR, neither his father-in law has filed any FIR against his son-in law and his daughter, who is co-borrower


Asked on 8/01/09, 7:52 am

5 Answers from Attorneys

Prof.Somnath Mukherjee s.mukherjee associates,09874053359

if you are not a guaranter you have no responsibility,if you knowing do the same you have commit wrong

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Answered on 8/01/09, 7:59 am

As already replied. Further your query

1. Mentioning wrong name and hiding his original identity is an offence in the eyes of law and this is only you who helped him to perform his fraud.

2. Bank is limited to his loan only and never follow his clients till they stop their payments, so in near future whenever the person will stop the payment only then they will initiate any proceedings against him and you.

3. Their silence proves that they are in the same foot with the aspatali ram.

Moreover he has not constructed his house, mentioned wrong name, all this clearly reflects his state of mind of fraud.

For More detail, Mail your detail to the undersigned;

Mr. Kamal Grover, Advocate (Chandigarh, India)

M: 09814110005

e-mail: [email protected]

Note: We are group of advocates, experts in different fields of law in Supreme Court, All High Courts and few district courts of India and your case will be handled by our experts in your locality.

Regards and good luck

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Answered on 8/01/09, 8:03 am

If the person Janrdan Rai you introduced to the bank is not Janrdan Rai and is actually Aspatali rai then you may be held responsible but would greatly depend upon the complaint so formulated by the Bank. Merely introducing in Saving Bank account ipso facto does not make you liable for the loan amount. Introduction is distinguishable from the Guarantee.

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Answered on 8/01/09, 9:14 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Your liability, if any, may be limited to your guarantee.

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Answered on 8/01/09, 10:07 am
Fahri Toga TOGA//OKSUZ

We think that we can help you to solve your affairs forthwith, please send us your documents or write an detailed e-mail in order to notify the circumstance.

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Answered on 8/10/09, 8:07 am


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