CIBIL Rating Not Changed Despite Clearing Loan : Kerala High Court Directs Credit Rating Agency To Ensure Requisite Credit Rating
Live LawThe Kerala High Court directed the Trans Union CIBIL Ltd, a credit rating agency, to ensure that the requisite Credit Rating was given to the petitioner since he had no subsisting loans and the earlier loan account had been fully closed. Justice Devan Ramachandran has directed Trans Union Cibil Limited to consider the reports submitted by the Canara Bank regarding the closure of the loan account and to take a decision on the Credit Rating of the petitioner within three weeks. Further, the Court directed the Trans Union Cibil Limited to ensure the petitioner was given sufficient Credit Rating. The Counsel appearing for Canara Bank submitted that the loan account of the petitioner was closed and now it was up to the Trans Union Cibil Limited to restore the credit rating.
History of this topic
CIBIL Score Updation Borrower's Statutory Right; Credit Information Companies Bound To Consider Objections : Kerala High Court
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