High handedness of a co-op bank in Banglore

By D. T. Shreenivasa

I am a senior citizen aged 69 years,  and a co-operative bank in Bangalore had sanctioned me a personal loan after obtaining two guarantors who owned an immovable property,  also had the title deeds of the property mortgaged.

On the same conditions the bank also sanctioned multiple personal loans to other individuals also.  It was during year 2000-2001.  At that time I was residing in Bangalore.  Now from the year 2002 I am residing in Chennai because of my family and health problems. The loan amount released I had advanced it to the guarantor’s business firm on the day it was released by the bank.

The board of directors of the bank very well known and also very close family friends of the guarantors know the details of the transaction.

But the bank authorities have released the property which was given to them as security towards the multiple personal loans sanctioned to sell it without realising the loans sanctioned against the property mortgaged to the guarantors also without my knowledge. The bank started legal proceedings against me declaring that there was no security of any property in sanctioning the loan.

Hence I contacted the bank to give me the Xerox Copies of My loan application,  loan sanctioned letter also loan disbursement documents to prove the bank’s false statement filed with JOINT REGISTRAR OF THE CO-OPERATIVE SOCIETIES IN KARNATAKA.  Right from July 2012 I have sent letters,  Legal notices,  e-mail also contacting the C. E. O.  of the bank often.

Also there are more complaints against the bank for which I have sent two complaints to RESERVE BANK OF INDIA  OMBUDSMAN recently.

Kindly let me know if there are any other ways to proceed against the bank, since the entire loan amount I have transferred to the guarantors account after they assured me that the amount will be paid by them to the bank in due course even in my absence after which I shifted to Chennai.  Only during the year 2011 I came to know that the non-clearance of the loan amount.

Kindly give me your opinion for the same and oblige.

I C Naik

The Cooperative Bank is a financier to its members but with that it is equally a Service Provider to its Members being the Consumers. The Consumer Protection Act 1986 provides for a machinery for redressal of complaints of consumer who has received a deficient service. In Hyderabad at

?5/?9th Floor

Chandra Vihar Complex

M.J. Road



As you may not be able to travel to Hyderabad you will have to rely on a close friend (may not be an advocate) who could go to this office and meet the Registrar of the Court and present copies of whatever documents to him who will guide him. Hopefully you should get a reprieve and through an inexpensive Channel.

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