Legal Question in Banking Law in India
If I don't pay the loan emi for six months what the bank could do
Asked on 3/08/10, 10:47 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
(a) Recall the loan and raise a demand on you;
(b) file a civil suit for recovery and obtain a court decree against you.
(c) The court may, in execution of decree, attach / sell your assets.
(d) If you try to avoid payment, possibility of CIVIL IMPRISONMENT cannot be ruled out.
Answered on 3/08/10, 5:02 pm
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