Legal Question in Credit and Debt Law in India

Sir , i m in Abu Dhabi now . and this is about 2008 , when i bought a car from Delhi and i took finance from icici . but unfortunately due to some reason i was not able to pay this emi . now i want to surrender this car. but i dont want to pay any money apart of that. pls suggest me what i have to do. i can go through you also to solve this problem. i am coming India in next month.


Asked on 3/15/11, 4:57 am

1 Answer from Attorneys
Tapan Kumar Jha

If you had given cheques as EMI, Bank might have instituted 138 NIA criminal cases against you.

Even otherewise, until this stage Bank might have filed a recovery case against you.

So, in both case, you have to defend through advocate. It cannot however, be certainly assured to you that you will not have to make payment of some amount but all efforts will be made to save the maximum possible of yours.

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Answered on 3/15/11, 5:22 am


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