Advice
raju
(Querist) 01 November 2013
This query is : Resolved
i d.raju submit that my father has taken a personal loan amount of 130000 in 2004 from canara bak.with the agreement of month ly installment of 3116Rs..but he failed to repay the amount..summons issued to him.but he retired from the servive in 2007..and expired in 2008...after we got so many notices from the court.but we did not accepted any summon..day before we got another summon for the settlement of amount 175000 with the rate of intrest 10.90 for quarterly for the said above amount from 2005..they have issued a summon under section 7 Rule 1 R/w sec 26 C.P.C``WHAT DO U advice for the further process.do they give any attachment for my mother pension in these cases..how should i approach the c court
V R SHROFF
(Expert) 01 November 2013
settle with bank offering 25%.
P. Venu
(Expert) 01 November 2013
The heirs of the deceased (i.e. the queriest, mother and siblings, if any)are liable for the outstanding debts against the estate they had inherited. However, pension is liable for attachment.
However, it is better to work out an amicable settlement.
Rajendra K Goyal
(Expert) 01 November 2013
Work out for amicable settlement, give offer of what you can pay. Bankers prefer to do settlement within the powers vested in the respective officers.Approach the officer through the manager.
