Legal Question in Banking Law in India

Recovery

dear Sir

i have one problem with loan i was working in dubai but due to my faimliy problem i came back to india and i have 30000 dhiram loan i want to pay that but right now i m unemployed and i cant pay the amount if they will send the recovery agent so what should i do


Asked on 3/03/09, 7:38 am

4 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: Recovery

As long as you are in India, the recovery agents for the loan taken in Dubai can do nothing. If anybody threatens, complain to Police. However, if you return to Dubai, you will face worst.

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Answered on 3/03/09, 1:02 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Recovery

You may consider filing for bankruptcy.

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Answered on 3/03/09, 3:14 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Recovery

They can't sent recovery agent in my opinion as you are in india.

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Answered on 3/05/09, 1:07 am
Pranav Desai PD Legal & Associates

Re: Recovery

I understand that the bank from which loan has been taken in Dubai will not be able to sent a person to India for recovery. However,the bank in Dubai can recover money based on the previaling laws in Dubai.

I suggest hat you can speak to the bank people in Dubai to reschedule your loan.

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Answered on 3/06/09, 12:54 pm


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