If your name is wrongly placed (as defaulter) in CIBIL by the bank which had lent you and you have paid all the dues of the same, then you can sue the bank in consumer court for deficiency of services.
One of our clients in Chandigarh had done a final settlement on December 29, 2010 with Kotak Mahindra Bank. However, his name figured in the CIBIL's Defaulters list and was denied Loan because of this Wrong status caused by Kotak Bank. As a consumer you can contend that the bank was guilty of deficiency in service.
The Consumer Court ordered that Kotak Mahindra Bank pay the customer Rs 15,000 + Cost of Litigation within 30 days or the bank will have to pay an additional fine of Rs 50,000.
