Notice Received from Lok Adalat


Sir/Mam,
Before 5yera I take a CC loan in CGTMSE scam 1200000 from Canada Bank, but unfortunately after 3 year my business collapse after that I paid around 3 lakh and paid money interest after some time I saw my loan is increasing then I stopped paying all interest part after that I request to bank for converting for Working capital term loan but bank not responding .

Today I recieved a loak adalat notice to appear next day at court .

now my condition is so serious to pay One time settlement. now I am working in my father organization he paid me around 10k as a salary.

my father business condition is not well for paying me money I need 1 to 2 year for paying 50% of settlement amount now bank claim 1139573/-


wat what will I do I don't understand.

PLEASE HELP ME!
 
Reply   
 
Legal Advisor / Advocate

Don't panic and do not miss your hearing before court. Only Court can save you. "Failure to repay a loan is not a criminal offence unless there is fraudulent intent" - Honourable Supreme Court said that. Find a lawyer and get an application with your finacial documents prepared. If your intention is not fradulent, nothing can harm you.

Total likes : 1 times

 
Reply   
 


LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu