Legal Question in Banking Law in India

Urgent Query Regarding PDN NOTICE:

I have become a defaulter in HDFC Bank Credit Card Payment for around Rs. 51,000/-. Now they have forwarded a PDN notice to me stating two options.

1. Either make the payment in seven days.

OR

2. They will initiate a Civil Suit Under Order XXXVII and also claim relief in terms of Order XXXVIII Rule V to furnish security / attachment against you under the code of Civil Procedure for the recovery of outstanding amount.

Please tell me the consequences of the above mentioned Act. Your assistance will be highly appreciated.

Regards

Avinash


Asked on 10/11/15, 3:57 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

11.10.2015

Dear Avinash,

I advise you to pay up and settle your credit card dues rather than ponder over the consequences. If there is a problem, resolve it now ... otherwise it will still remain there tomorrow ... only to be worse.

Regards,

Read more
Answered on 10/11/15, 6:35 am


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