Legal Question in Credit and Debt Law in India

My age is 62 & i have taken loan from icici against property in 2006 after paying few instalments i suffered from bad health & my business was also discontinued . now as if i have recovered & want to repay the loan & release my property for business . Arcil is demanding additional interest over total principal & interest outstanding. Additional Interest is over burden for me which i can't pay . Suggest me the solution to release my property.


Asked on 5/21/11, 2:52 am

1 Answer from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

The only solution is either you settle with the bank or pay the penal interest.

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Answered on 6/03/11, 2:26 pm


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