Legal Question in Credit and Debt Law in India
hi sir
recently we have taken commercial vehicle loan and we are not able to repay the vehicle loan as market rates are very less and loads are not sufficiently available due to sudden economy slowdown. what will be my liability? Will bank or NBFC ask me to pay the difference of amount after sale of asset?
Asked on 11/20/19, 10:15 pm
1 Answer from Attorneys
Jayesh Desai
Jayesh Desai
You will be liable for outstanding amount as well as interest.
Answered on 12/19/19, 12:05 am
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