Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

banner_ad

Foreclosure charges on cash credit and other fund based

This query is : Resolved

Share Report Follow Query Ask a Query

Shreyas Doshi

Shreyas Doshi (Querist)
Follow

24 April 2018 We are trying to close fund based working capital loans (CC, PCFC) taken from a PSU Bank. We are an MSME exporter. Our sanction ticket does not mention any foreclosure or pre payment charges that could be levied by the existing Bank. We have now availed such takeover loans from another private bank and the old Bank wants to levy foreclosure charges on WC loans inspite of no mention in the sanction ticket. Is that correct ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

25 April 2018 if the sanction letter or any other document executed between the bank and the borrower doesn't provide for such charges, then you definitely have a case to file a compliant with bank ombudsman.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member MAHESHA RAMANNA

MAHESHA RAMANNA

Pro Member Rahul Kulkarni

Rahul Kulkarni

Pro Member Akhila Ajayan

Akhila Ajayan

Pro Member deepak

deepak

Pro Member NITHIN GEORGE

NITHIN GEORGE

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

ARTICLESHIP 27 May 2026

CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details

ARTICLESHIP 08 June 2026

Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details

19 May 2026

Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details

19 May 2026

Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details

Featured 26 May 2026

Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

01 June 2026

Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details

16 May 2026

Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details

29 May 2026

Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details