Legal Question in Banking Law in India

Dear Sir/Madam,

I have taken the Personal lone Rs.: 1,10,000.00 from ICICI Bank, Mumbai branch and I have paid the half of the amount but since last 4 months i was unable to pay the EMI, now I'm ready to pay the amount but ICICI Bank say bank has decided that my loan account has been identified as non performing account and they are going to lodge a legal complaint against me if i did not pay the complete outstanding mount which is around 79000 in two installment, that is also half amount on this months 16th Dec 2009. when i asked more time, they refused and they say only two installment they can make.

I want to know that how can i handle this situation and my problem is I'm rite now in overseas, if they lodge legal case against me then I won't be able to attend the court sessions. please advice me how to go ahead and close this issue.

Thanks in advance.

Thanks and regards

Syed Abid


Asked on 12/12/09, 7:39 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

despite the fact you are overseas, you can hire a lawyer to settle the matter by sending a duly notarized power of attorney in his favour.

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Answered on 12/13/09, 8:44 am
J. Radhakrishnan independent Practice

you engage an Advocate at Mumbai whose address you can get and request him to deal with the matter.

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Answered on 12/13/09, 9:00 am


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