Legal Question in Banking Law in India
mine father took a loan from a bank in the name of mine sister now mine father passed away and sister has broke all realtion with us.
now bank is asking us to pay the loan what can we do
Asked on 6/19/13, 12:21 am
3 Answers from Attorneys
muhamed mustaque
mk associates
they can proceed against you only if you have inherited property from father
Answered on 6/19/13, 3:11 am
Fca Prashant Chavan
Expert Edge LLP
19.06.2013
Dear Sir / Madam,
The bank is well within their rights to persuade the legal heirs to settle the loan. As legal heirs, you should negotiate a settlement of the loan with the bank and pay it off.
Regards,
Answered on 6/19/13, 4:00 am
J. Radhakrishnan
independent Practice
Ifyou don't have any assets of your father other than immovable properties or bank deposits the bank cannot proceed against you,personally.
Answered on 6/19/13, 5:31 am
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