Legal Question in Credit and Debt Law in India

Sir, My father, who was in a small job in a MNC took a personal loan from Abn Amro Bank Dubai in 2004 for 100,000 Dhs. in 2006 he lost his job. His employer intimated the termination to the bank and transferred the service benefit to the account. Bank recovered the EMI from the same and kept silent for one year. Later they imposed travel ban to UAE and local recovery team intimated that the balance of 40,000 should settle immediately else they will take legal action. I requested them to lift the ban, when his employer called him back. Though we paid 2 installments out of 6 due, they did not vacate the ban and lost the opportunity. Now after 4 years new recovering agent of new bank ( Abn Amro mergedto Dubai Bank) is regulrly calling and coming home in search of money. What could be the conseqenes. Please advise.

Asked on 1/28/12, 7:40 am

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As per law recovery suit can be file by the bank with in 3 years and you can file

complaint against the bank if they harassing u they can recovered only as per law

Answered on 2/05/12, 5:05 am

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