Legal Question in Banking Law in India
I am from chennai,india. I have an outstanding of Rs.2,50,000(Two lakhs &fifty thousand) in HDFC bank credit card.Due to medical crisis in family and lose of job i defaulted my payment for the last 6 months.Can the bank get an arrest warrant and put me in jail for credit card default? please help me.I am desperate.
Asked on 3/23/10, 11:32 pm
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
If u have not given them cheques which have bounced, you can be sure that the HDFC Bank cannot get you arrested or file a criminal case against you. But if you allow an exparte decree to be passed in any suit that Bank files, they can get you under civil arrest in execution of the decree, if they are able to prove that you have sufficient assets to repay, but u defaulted.
Answered on 3/24/10, 11:38 am
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