Legal Question in Credit and Debt Law in India

We have obtained a home loan from ICICI Bank way back in 2004. We settled the loan account with a one time payment in 2009. We have loan settlement letter, NOC given to us by ICICI bank. we also got our documents, now after 6 years suddenly ARCIL is saying that we are defaulter and have to pay the amount otherwise they will take legal action. As written we have already settled the loan one time. what should we do


Asked on 1/13/16, 11:50 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

14.01.2016

Dear Sir / Madam,

In case you have received any written communication from ARCIL (Asset Reconstruction Company of India Limited), simply provide them with a copy of your loan settlement letter and NOC letter and state therein that they should not unnecessarily harass you. Should they pursue legal action, it will not sustain in the eyes of law.

Regards,

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Answered on 1/13/16, 4:54 pm


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