Legal Question in Banking Law in India

I had sent a registered letter to the Bank more than six months back demanding Agreement-copy and account-statement of my Homeloan alongwith a request to reschedule the EMIs with due effect of the floating rate of interest in the light of declining interest rates. The regd.post was not accepted by the Bank as it came back to me and the same is preserved with me. Now after more than six months, the Bank has sent a notice to me under sec.13(2) of the SARFAESI ACT. Kindly advise what should be my line of action.


Asked on 11/26/10, 8:29 am

1 Answer from Attorneys
J. Radhakrishnan independent Practice

You should in consultation with a lawyer should reply to thhe sae within 60 days of the receipt of the notice, contesting the amount claimed by the bank and also seeking copies of the documents signed by you.

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Answered on 11/27/10, 8:55 pm


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