Legal Question in Banking Law in India

Non Payment of the Loan taken from ICICI

Hi, I took personal loan from ICICI For almost 3 yrsnow. After getting the loan few EMI was also diducted from my Salaried account that i had with ICICI. But some times later I had to leave the NEW DELHI Due to some family reason .. and later fell sever sick and admitted to the Hospital and I was diagonesd Kidney failure but some times later .. I could recover .. but since then i couldnt Contact the ICICI i lost their Contact # ...but recently i started to receiive the phone calls .. I am worried if its Recovery agents or who.. anyways am still worried and feel liability to pay my all dues the only thing is that my Financial situation is not good so ICICI can make a way out for me as giving me any easy mothly installment for all the dues i have to clear that will be Great Help.. Looking forward to immediatel answer tomy Trboule Thanks


Asked on 1/28/09, 3:12 am

2 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Non Payment of the Loan taken from ICICI

You may not be able to avoid your liability by legal help. take appropriate steps, consolidate your position, and meet your liability as soon as possible. Any delay in payment will be harmful and may visit you with avoidable litigation costs and penal interests.

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Answered on 1/28/09, 8:32 am
J. Radhakrishnan independent Practice

Re: Non Payment of the Loan taken from ICICI

address a letter to the chairman as well as Managing Director of ICICI explaining your pitiable position and requesting them not to harass you through recovery agents, expressing your willingness to settle the debt gradually once you come out of your miserable condition. Send a copy to the Chief Officer, Banking Supervision, Reserve Bank Of India, Shahid Marg, Mumbai with an endorsement requesting them to caution the Bank from harassing you. Perhaps that will work.

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Answered on 1/28/09, 9:30 am


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