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DEBABRATA PAL   08 December 2015

Education loan sattlement

Dear Sir, I need some help. I have taken a educaional loan in 2009 for my MBA. The loan amount comes to 2.4 lacs rupees in principal at the completion of my MBA, As i belongs to a poor family background and not having the job for a longer period of time, i was unable to pay it. Now it has been declared as a NPA account by PNB from a period of over 2 years. It has now total of 4.18 lacs including interest before declaring it as NPA. So what  measures can be taken to do settlement of it. I am willing to do the settlement but i can pay maximum of 3 lacs and that can pay initially 1 lac and rest amount i will pay after 1 year in a minimun inatalledment at least 60. if bank will not charge extra interest. 

Please help me out of this.

Please help me to process the procedure of the sattlement



Learning

 3 Replies

SAINATH DEVALLA (LEGAL CONSULTANT)     09 December 2015

The contents of the query have to be put before the concerned bank for a final settlement but not here.

1 Like

DEBABRATA PAL   09 December 2015

I would like to know It can be possible or not. I would like to need some leagal  advice.

PRASAD AKS (PARTNER)     27 March 2016

IN A BANK SUIT IN OA 156/13 AT DRT., VISAKHAPATANAM SETTLED ON 24-04-2015

SOUTH INDIA BANK LTD., GUNTUR  VS   THE SAINT ANNAS SOCIETY, CHODAVARAM FOR OA SUIT AMOUNT OF RS. 4,18,93,752 SETTLED FOR

RS. 40,00,000 (FOURTY LAKHS ONLY)  SO ACCORDINGLY YOU APPROACH YOUR BANK   AND PAY  RS. 42,000/- ONLY.  REST PERSONALLY DISCUSS

WITH MANAGER HE DO NEXT FORMALATIES TO SOME  EXTENT AS SAID BY HIM.  GET THE COPY OF ORDER FROM INTERNET OR FROM COURT.


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