Legal Question in Banking Law in India

Defaulter of personal lone

Dear Sir or Madam:

I am Kolkata, WB, India. My question is, if I become unable to repay my personal lone to the bank then is there any chance of imprisonment? What is the maximum penalty in this case?

Thank U.


Asked on 11/23/07, 5:51 am

2 Answers from Attorneys
G. M. Gupta gmguptaandassociates

Re: Defaulter of personal lone

there are many kind of cases which are filed in such case.

more details are required to see that in which category u comes in.

if you have given any cheque then u may be in problem otherwise chances of imprisonment are negligible.

but monetary loss is quite possible.

in short.........all depends on case to case.

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Answered on 11/23/07, 9:39 am
Vijay Chandavale Advocate Vijay Chandavale & Associates

Re: Defaulter of personal lone

The Civil Prisonment is the last resort in case the bank gets decree and seeks your imprisonment . However if you could show that there is genuine reason behind your default you can be saved from imprisonment

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Answered on 11/25/07, 5:20 am


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