[Resolved]  Punjab National Bank — Disbursement of Loan

Address:Mumbai City, Maharashtra

Hi, I applied for loan on 20th December. I got sanction letter on February 3. Bank took initial processing fees of - 5618 rupees Took 4000 rupees for legal as cheque in the favour of Jurismetrics but then spoiled it and took cash from us for the same. Bank took 7600 rupees for purchasing of stamp papers, they initially purchased 6300 rupees stamp papers and took my signature on it by stating that cheque has been printed and legal has been approved and they will release it. But then after taking all the fees they reject are loan saying legal is not approved. For the same property, State Bank of India, Bank of India, Bank of Baroda, DHFL, GIC, Vijaya bank etc. all the above stated bank have disbursed loan for the same property. Punjab national bank after taking almost two months of our time and all the money rejected our loan. I asked to give back my money of 7600 rupees as they took the money for further processing by saying that our cheque is printed and legal is approved, but when they rejected it, I asked for the money back, which they are not ready to give. Without legal clearance they have taken money 7600 rupees for stamp papers which they said is required for disbursement purpose which they are not giving us refund. It should have been the last process after legal approval of the property and before disbursement of loan. But they took 7600 rupees before legal approval and are not ready to give us back our money. Punjab National Bank - Vashi Branch Relationship manager - Akash Mishra Sales representative - Upendra Bharti Bank contacted us after I enquired in one of their portal.
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Complaint marked as Resolved 
I received the disbursement cheque. Thanks for the help. On the day I submitted my complaint, the next day I got my documents back stating I won't get loan but they then gave me in written that they will refund the amount of stamp papers which was taken for loan purpose. But then I got a call through Consumer Complaints asking details in the afternoon. And by the time I reached home in the evening, I got a call from PNB stating that I will get loan and requested to submit back all the documents. Further processing was done and I received the check on 18th February. Thanks for all the help. And I would also like to thank Akash Mishra and Upendra Bharti for the same.
Feb 13, 2015
Updated by reshmashriyan
Regarding my complaint dated Feb 10, 2015.
Today 13th Feb 2015, PNBHL took a written letter by me stating my previous issue got resolved.
1. Legal issue of the property got cleared (Earlier it was rejected and documents were given back to us.).
2. As the legal got cleared and all the other procedures got completed PNBHFL has promised to disburse my loan amount on Monday / or the day of clearance of 5618 which I paid through cheque today as the final processing fees.
They took 1300 for stamp purchase and other charges and the previous stamp papers worth 6300 will be in use now as the bank got all the documents cleared.
Currently no issue faced, but until and unless the loan gets disbursed I am still doubtful about everything.
Feb 13, 2015
Updated by reshmashriyan
Also, the above complaint dated 10th Feb was for Punjab National Bank housing finance limited (PNBHFL). As I got PNB listed in the list box, I selected PNB.
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