HSBC Bank is to pay Rs1 lakh as compensation to an NRI couple for failing to disburse a sanctioned home loan. The national consumer dispute redressal commission (NCDRC) while dismissing the bank’s revision plea directed the bank to pay the compensation to the couple.
The commission upheld the decision of the Chandigarh state consumer dispute redressal commission in favor of Sridhar Gajula and Manjeet Kaur.
The Gajulas had booked a flat worth Rs32 lakh in Chandigarh’s Florenz Tower, promoted by Omaxe Builders. For this the couple took loan of Rs28 lakh from ICICI bank. They had to repay the loan in 120 installments, which worked out to Rs32,511 per month.
But, later Omaxe Builders increased the cost of the flat to Rs39 lakh. That time HSBC offered the couple a deal that it would give a loan of Rs 40 lakh if the couple transferred the loan.
The in spite of all promises bank failed to disburse the loan even though the couple had paid also paid Rs76,790 as foreclosure charges.
NCDRC also maintained the state consumer forum’s order directing the bank to refund the foreclosure charges and Rs98,000, which the couple had to pay to the builder, over and above the Rs1 lakh compensation.
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