Legal Question in Banking Law in India
I got my loan settled under lok adalat with an order to pay Rs.10,000/- monthly. Now, I want an OTS for Rs.4.00 lakh with bank. Can the Original Lok Adalat decree be modified.
Asked on 4/01/16, 7:59 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
01.04.2016
Dear Sir / Madam,
No. You will have to make a representation afresh to the Lok Adalat, if the Bank does not accept your request for a One time settlement (OTS).
Regards,
Answered on 4/01/16, 9:13 am
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