Legal Question in Civil Rights Law in India

Hello Sir,

I took a personal loan of rs.80,000/- and couldn't pay yet. i'm waiting for my gratuity amount to pay off the loan. i requested the bank officials a time of 6 months , but they brought me a court notice claiming the property attachment. is that a correct legal way ? my property is much more than this small amount. can i reject the notice? or file a petition against them? can a property be attached for a personal loan recovery? please guide me !!


Asked on 4/16/13, 6:03 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

16.04.2013

Dear Sir / Madam,

(Autonagar, Krishna, Andhra Pradesh)

Banks have been given sweeping powers for recovery of loan dues from defaulters. You cannot afford to reject the bank's legal notice. To avoid any further complications, immediate settlement of the personal loan dues is recommended.

Regards,

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Answered on 4/16/13, 6:23 am
uttam Tibrewal

dear client..

yes bank has been enpowered to recover loan from defaulter .. yoou must immediatly reply to the notice...

for any help mail me at [email protected]

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Answered on 4/16/13, 10:13 am


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