Legal Question in Banking Law in India
Respected Sir (s), I had borrowed a personal loan from a bank, which was to be repay in equated monthly instalments. But due to severe unavoidable circumstances could not continue my EMI after a period of two years. My account got NPA and a legal case lodged. I had discussed with the bank officials and urged them that i am ready to pay back the outstanding amount but the officials refused for the same. Now presently the loan amount has been boosted up.
Please advice me that if I remit the EMI in the bank on regular basis at this juncture, what legal action in this case be taken by the bank. It is not that my money deposited get in vain.
thanking u in anticipation
sincerely yours
aarkay
1 Answer from Attorneys
once they take a legal action, you may offer to pay the money.
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