Legal Question in Banking Law in India
I hrave taken a PL and was paying regularly. But lost my job in between and coudl not pay the EMI. In the meantime I changed my location. Now, I got a new job and want to settle down. Bank appointed a legal firm and they threatned me with non bailable arrest warrant . please help how to proceed.
I shall be going abroad. will this create any issue in immigration check.please reply and help.
2 Answers from Attorneys
this is the pressure tactis adopted by banks and no warrant is served without serving a summon first.
moreover, only the court can issue the non-bailable warrant after you have been served with summons and still you have not appeared. It is up to you if you want to settle with the bank before you go or after you come back. the bank has to file a recovery suit within three years from the date of PL
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