Home loan bank
Unfair practices while disbursement

Sir,

I have taken a housing loan fm one of the leading bank, it was a loan towards the underconstruction building. At the time of final disbursement builder had claimed that his work has completed in 100% so he is required 100% payment. Based on his demand we submitted his request to bank in their prescribed format. Now, he got his 100% payment thru bank fm me in few days but he left his work incomplete till date. Howerever, when i disputed with bank for releasing payment, it was revealed to me later by bank that at the time of final disbursement only 95% work was completed. So, I feel bank should not released extra 5% payment to builder but it seems that bank has favoured unreasonably to builder and not its customer.

This is unfair and unjustified practice on the part of bank. pl advise can we take bank and builder together to the consumer court for such incidents. can any one advise me. tks

Company: Home loan bank
Country: India

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