Legal Question in Credit and Debt Law in India

I have 2 (TL)account with S B I . Now due to certain emi are defulte the bank has recalled my account and has filed a case at DRT Cuttack.Now bank is saying to pay the total loan amount.I have taken the loan for 72 months out of which 22months are over and 50 months are remaining.help me what can Ido to save my business.


Asked on 8/04/12, 8:43 am

1 Answer from Attorneys
Vivek Mapara Vivek N. Mapara

In case of breach of terms and condition of loan, normally there are provisions that entire loan become payable at once. That term is very much valid and enforced. U may contact back for relief or for OTS

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Answered on 8/05/12, 9:30 am


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