K Velorum (Software Pro) 24 July 2012

Bank asking for lakhs of collection amount

Hello There,

I had a Credit card account with a bank in India back in 1997 and I settled the amount in 1999. The letter of settlement is with me.

After 13 years they are telling I had owed Rs 21,000 in priciple and Rs 9.5lakhs in interest. People from their bank have been making threatening calls and harassing my friends and family. They even told me they will sieze my passport. I know I am right.

Can you please help my how to go about this? I can go to any extent to prove I am not owing any money to them and I want to file case against this bank.

Please help.

Thanks,

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2 Replies

Ajit Singh Cheema (practising Advocate) 25 July 2012

Limitation period for filing suit for recovery of clean loan / credit card loan is three years from the date of advance ete..As such for the advance given in the year 1997 ,the limitation period is up to the year 2000 or so .

Had the Bank got proper records , and legal right they must have served you with a legal notice instead of making threatening calls.

The debt is definitely time barred and cannot be recovered legally , even if it stands in your name.

File a criminal complaint against the concerned branch manager for making threatening calls.

K Velorum (Software Pro) 26 July 2012

Finally I obtained statement from them. It clearly tells that my card was cancelled on Dec 2001 and what I owed was Rs 23, 000. But they have added interest for nearly 12 years and asking me to pay Rs 10 Lakh.

They have assigned a collection to some agency and the guy from that agency called me 20 times yesterday alone. I no longer live in India and I need to stop them harassing me, my family and frineds.

Please suggest how do I go about filing criminal complaint.

Thank you,