What if bank not disbursed full second installment of loan that results in subsidy loss and project failure??

Project for mini kamdhenu dairy farm, loan of 39.26 lacks and interest is subsidised by up govt. Applied for loan - 15 March 2015 Loan sanctioned - 15 Oct 2015 Rs 10,00,00 deposited in saving ac by bank on31 March 16 Purchased 25 cattle and submitted bills of ₹ 21,00,000 to bank by 15 may,16 for which bank disbursed only ₹ 18,00,000. Purchased 8 more cattles got insurance by own on aug- 16 as the project deadline was 8 month from first installment. Bank disbursed ₹ 10,00,000 in April-17.

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Consumer Protection

Posted on 01-Jul-18

Advocate Luv

Answered on 04-Nov-18

This dispute does not appear to be fit to be adjudicated by a consumer court as detailed evidence may have to be adduced. So a civil court can be an answer.

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