Legal Question in Banking Law in India
i had a cc loan of rs.500000 against security of rs.200000 since about a year and due to some unavoidable curcumstances i am not in condition to pay either the interest or the principle amount to the bank.Bank sent me a deemed defaulter notice ,warning about certificate case and body warrent etc.what may be the consecunces hereater and what should i do.
Asked on 5/24/16, 10:34 pm
1 Answer from Attorneys
1) Go for OTS with the bank.
2) Otherwise Bank will recover from ur assets.
Answered on 5/24/16, 11:45 pm
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