Hi Lawyers,
I'm working in the UAE and have a INSECURED loan of about 60+ lakhs balance, I have been paying the loan for the last 4 years without fail or delay. I'm have lose my job, as my company is moving to the Far East. I will not be able to repay this from India in the foreseeable future, This has happened to a lot of Indian during the Dubai recession. I'm also told that my Loan is insured by the bank.
What legal action can the bank in UAE take against me in India. Will they be able to take my house and assets?
Kindly advise.
