Legal notice

pranab majumdar (Querist) 15 April 2012 This query is : Resolved
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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Shonee Kapoor (Expert) 15 April 2012
Yes, it is legally valid. Because ECS is covered under NI Act.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Devajyoti Barman (Expert) 15 April 2012
What is the problem in it?
You are liable to pay anyway.
So comply the notice and start paying the EMI.

Advocate M.Bhadra (Expert) 16 April 2012
Bank can issue a Legal Notice on default of EMI,send reply to this Notice showing cause for your default.

Deepak Nair (Expert) 16 April 2012
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.

Raj Kumar Makkad (Expert) 16 April 2012
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.

M/s. Y-not legal services (Expert) 16 April 2012
you are agreed that legal notice issued in time., its mean they are called you for repay the amount..

-tom-