Legal Question in Banking Law in India

i had a personal loan in 2007. my last installment i made in 2008. maturity date is 2010 march. can bank suite a case against me


Asked on 1/30/14, 5:55 am

2 Answers from Attorneys
J. Radhakrishnan independent Practice

If there is no payment in 2011 or acknowledgement within three years prior to the date of filing suit, the bank cannot sue you as the claim is barred by limitation now I.e in 2014.

Read more
Answered on 1/31/14, 3:37 am
Sachin Das Pareesseri

Dear client,

Banks loan is barred by limitaion in the year 2011 itself.

Do not acknowledge it in any way.

Bank can not take legal action against you

But if it is cooperative bank the matter is different.

If you need any clarification please call me on 09387714156 anytime, payment by a/c account transfer.

Read more
Answered on 1/31/14, 4:45 am


Related Questions & Answers

More Banking Law questions and answers in India