Legal Question in Credit and Debt Law in India

Hello Everyone,

I had a credit card back from Standard Chartered in 2001 and last payment was done in 2005 and now in Dec 2015 a guy from Mumbai calls me and tells me that he is a lawyer for Standard Chartered bank and he says that I have not paid the credit card from 2005 and now I have 2 options. Options are I can comprise and pay Standard Chartered through this lawyer or else he will issue a legal notice and issue a non bailable warrant against me. I am not a lawyer and quick search on Google says that there is something called statute of limitations so please help me answer some of the questions I have?

Q1: Does statute of limitations apply to me as the last payment was done in 2005

Q2: If I ignore this lawyer, can he issue a non bailable warrant against me

What do I do?

Thanks

Anuj


Asked on 12/14/15, 11:24 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

15.12.2015

Dear Anuj,

You have not mentioned till what date you were using the Standard Chartered Credit Card, when you discontinued its usage and whether you communicated vide a letter to Standard Chartered Bank to revoke your Credit Card, The period of limitation is eight years from the date of discontinuation of usage and communication to this effect to the Bank. Yes, since the advocate / lawyer is well within his / her legal right to apply for a non-bailable warrant against you in the Police station, I urge you to take this settlement matter very seriously and amicably settle it with the SCB (Standard Chartered Bank) officials immediately.

Regards,

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Answered on 12/15/15, 1:37 am


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