Legal Question in Credit and Debt Law in India

We have taken a home loan way back in 2005 from ICICI Bank. On 2009 we paid the settled the loan by one time payment to ICICI Bank via demand draft. We got the loan settlement letter, NOC from the bank. Also got our original submitted documents from the Bank. Now suddenly after 6 years we got a letter from ARCIL stating that, ICICI has sold the loan to ARCIL and we are defaulters, we have to pay the loan amount with interest and other charges otherwise they will take legal action. I'm surprised how can ARCIL send me such a letter because we've already settled the loan with the primary lender. As said we got the documents also. What should we do??


Asked on 1/13/16, 6:55 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

14.01.2016

Repeat query. Already answered. Any further advice or guidance will be rendered only on prepayment.

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Answered on 1/13/16, 8:38 pm


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