Sir,
I,ve taken a loan for Rs.48 laksh under cgtmse scheme for purchasing 2 tourist buses froms SBI. Unfortunately the businesss went on loss due to severe breakdown and accidents on my buses. For the last 5 months I.ve classified as NPA category, the banks telling they willl go for claiming security recovery. What will be the action taken by the banks if i couldnt repay the loan.
They have taken a blank cheque at the tiime of signing the deed for security, they have remitted the cheque in the bank by writing the dues amount for rs.5 lakh on march. on the cheque and given a suit under 138. I.ve paid more than rs.4 lakh after march on the particular loan account. Will that paid amount after will be treated the balance amount for that bounced cheque for rs.5 laksh.
Does it affect my other bankings/loans, cibil ratings or they will take my properties under securitisation or any kind of threats?
Kindly advise
vimal
