Legal Question in Banking Law in India

Rajesh diyora
I having bank personal loan rs.5 lacs and c.c. rs.2 lacs. but due to some financial crisis come on my business and investment.
right not i lost all amount. only PL 2 EMI paid.
so, what can i do. beze right not i haven't money and family have but they cant given me. They told u take loan and utilize u will pay.
so, what can i will do.

Asked on 9/18/08, 10:01 am

5 Answers from Attorneys

Fahri Toga TOGA//OKSUZ

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Re: Rajesh diyora

Dear Sir/Madam,

Here is our WEB site address

http://www.wlfenternasyonel.com

You can personally ask your question and our attorneys help you to solve your problem.

Thank you.

Answered on 9/19/08, 2:57 am

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J. Radhakrishnan independent Practice

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Re: Rajesh diyora

consult a local lawyer.File an insolvency petition and be done with that. Do not be asking such questions on this forum.

Answered on 9/19/08, 6:41 am

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Aniruddha Pawse Aniruddha.P.Pawse Advocates

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Re: Rajesh diyora

You can ask them for some time for repayment otherwise they may take legal action against you otherwise declare as insolvent.

Answered on 9/19/08, 7:18 am

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Nasir Butt Nasir Law Associates

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Re: Rajesh diyora

You cannot deny your liabilities even you lost. Best solution is negotiation which might reduce your burden. Otherwise bank may initiate insolvency proceedings against you. You may also go into insolvency subject to your liabilities and current assets. Note that your assets and incomes will have first charge, by from which bank will recover its amount.

Answered on 11/06/08, 5:51 am

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