Question
Q: What if the lender is not an NBFC or bank?
Answer
A: If the entity can't show that it has legal authority and the right paperwork, treat it as high-risk and ask for proof of identity and the validity of the agreement. Never send money to personal accounts unless you have verified company information and an official statement of account. Threats, shaming, or forcing someone to do something may be against BNS criminal intimidation/extortion-like pressure principles on facts. Legals365 and Advocate BK Singh set up a safe way for you to respond to and complain about things.
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By Advocate BK Singh
(Delhi High Court)
