Legal Question in Real Estate Law in India
Hi Sir/Madam - I have taken the loan of 23Lac from ICICI bank in 2006 to buy a flat in Hyderabad, India. I paid nearly 9 Lac towards interest/principle till 2009 May. However, due to my personal issues I discontinued to pay the EMI and decided to leave the flat.
Yesterday I got a letter from ICICI bank stating that my flat has been auctioned for 22 Lac and they are demanding 16L more from me. I
please advise me what should I do:
1. Is it just they are threating me to pay 16 L
2. Would there be any legal actions if i dont pay the 16 L
3. Is there any way should I get back any amount to me
thanks
Asked on 10/11/12, 5:05 am
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
You may approach a lawyer dealing in DRT cases.
Answered on 10/11/12, 9:08 am
Shrichand Nahar
S.V.Nahar, Advocate
May be.
Bank may take steps for recovery of outstanding loan with interest.
Answered on 10/14/12, 9:56 pm
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