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Author :
pranab majumdar
Posted On 15 April 2012 at 22:24
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Respected experts,
one EMI of housing loan defaulted.ECS returned & within 15days legal notice
served.Is it justified legally without
prior information & giving a chance to
the individual for paying back?
Regards
pranab majumdar
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Expert :
Shonee Kapoor
Posted On 15 April 2012 at 23:00
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Yes, it is legally valid. Because ECS is covered under NI Act.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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Expert :
Devajyoti Barman
Posted On 15 April 2012 at 23:04
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What is the problem in it?
You are liable to pay anyway.
So comply the notice and start paying the EMI.
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Expert :
Advocate M.Bhadra
Posted On 16 April 2012 at 07:05
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Bank can issue a Legal Notice on default of EMI,send reply to this Notice showing cause for your default.
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Expert :
Deepak Nair
Posted On 16 April 2012 at 09:18
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It is justified. Because the notice is a way to give chance to the borrower. In notice, the bank would have mentioned a time period within which you should settle the issue.
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Expert :
raj kumar makkad
Posted On 16 April 2012 at 09:27
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There is no legal hurdle for the banker to do so as the agreement has been violated from your side. Beware in future and settle the matter amicably to avoid bigger losses in future.
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Expert :
Thangapandian
Posted On 16 April 2012 at 12:33
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you are agreed that legal notice issued in time., its mean they are called you for repay the amount..
-tom-
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Expert :
R.K Nanda
Posted On 16 April 2012 at 12:59
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Issue of legal notice is valid.
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Author :
pranab majumdar
Posted On 24 April 2012 at 21:21
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Respected experts,
Thank you all for yours rightful advices.
Regards
Pranab Majumdar
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