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VijayK   01 December 2009 at 18:58

Legal options available on non payment of loan settlement

Hi All
I had taken three personal loans in December '06. The money was required for Medical as well as business reasons.The foll is the loan I had taken:-
Citibank (Personal)- 5Lakhs@48 months
Citibank (CC Loan)- (1+2 Lakhs)@48 months
IDBI - (6 Lakhs)@48 months
I was able to pay the EMI's till my business suffered heavy losses and I had to shut shop this year. I have paid the following till date:
Citi (personal) - 20 EMI's (Rs.273260)
Citi (CC Loan) - 20 EMI's (251174)
IDBI (Personal) 27 EMI (Rs.459108)
In 2009 since the close of my business Ive been unemployed and still am in the process of searching a job. In july I came to a settlement with Citibank to restructure my loan. This is the new restructure:
Citi (Personal) - Rs.4785/51 Months
Citi (CC Loan)- Rs.6583/60 Months @4% Int
IDBI (Personal) - Havent Restructured yet (Stopped payment after 27th Installment)

I was able to pay the Citi Loan (Personal & CC Loan) Restructured EMI from July '09 - August '09 but with great difficulty since I dont have a job yet. To add to that my father has been undergoing medical treatment for a condition (Undisclosed) since November '07. Money is scarce at home till Im able to get a job. The Citi loans are restructured but Im no more in a position to pay them and have to endure persistant phonecalls from the bank 4 times a dayx 7 times a week both on my mobile as well as at home. I want a practical and peacefull end to this torture.
I would appreciate it if you could tell me my legal rights once I have got the loans restructured. Please dont get me wrong; I want to repay my loan but cant till I get a job. I want to know what my legal options are and if I can approach the bank and tell them to give me some time frame (6 months - 1 year, etc)during which if I get some Income I would repay. Please let me know as Im at my wits end and want to solve this practically. Thanks for your help in advance.

Teena   01 December 2009 at 16:11

Procedure of Acceptance of Deposits

My private company is converted into public Company can anyone tell me what is the procedure for accepting Public Deposit.

RAKESH MEHRA   01 December 2009 at 13:30

about sale of scarp (Accounts

dear sir

a firm have Vat number of Trading concern.
but he know manufacturing products and scarp sale of iron.


if trader make scrap sale of iron then tcs is to deudted or not under income tax act because seller is Trdaer.

plz reply.
.......................

RAKESH MEHRA   01 December 2009 at 13:28

WHAT IS LEASE DEED AND RENT DEED.

SIR

WHAT IS LEASE DEED AND RENT DEED.

PLZ REPLY..................

RAKESH MEHRA   01 December 2009 at 13:27

no objection letter from other firm to run the firm the sam

sir,

can u plz send me format of
no objection letter from other firm to run the firm the same address vice versa.
i.e two firm can be started at one address

plz reply.................\

RAKESH MEHRA   01 December 2009 at 13:25

ABOUT STARTING OF TWO FIRM AT ONE ADDRESS (Accounts)

SIR,


CAN U PLZ REPLY ABOUT STARTING OF TWO FIRM AT ONE ADDRESS.

IF WE HAVE RENT DEED OR LEASE DEED.


IF WE HAVE RENT DEED THEN IN WHICH CONDITION WE CAN START TWO FIRM'S BUSINEES AT ONE ADDRESS.
ACN WE HAVE TO PASS THE RENT PAID ENTRY IN P&L A/C.


IF WE HAVE LEASE DEED THEN........SAME ABOVE

PLZ REPLY..........................\

Anonymous   01 December 2009 at 13:23

Deduction from employee easalry

Is it legally permissible to deduct any amount from the employee by the company for the contribution to be made to any relief fund etc.

Thank You !!!

sudip   01 December 2009 at 11:54

First Name Change in PAN Card

Someone change his First name through court by Affidavit, and then want to change the same in his PAN Card, but Income Tax want the Reason for changed name certified by gazetted officer.

can any one help me on this topic?

or some good reason that Department will accept easily..

please help

Anonymous   30 November 2009 at 18:40

personal loan time limitation

We had taken apersonal loan of Rs 50thousands in 2001. After payments of EMIs till 3-2002 there is no further transaction.The A/c is NPA since 2004. No legal notices were served & no further documents signed since 4-2001.There is no property mortgauged.
The bank issued a letter by ordinary post in 08-2009 asking for a payment of 50,000 + int. There is no legal notice till now.
Pls let me know 1.wheather the case is time barred? & 2.Even if it is time barred can we pay the debt in installments spread over 2 years?

Anonymous   30 November 2009 at 12:25

divorce and maintainace

my marriage has been solemanized according to hindu lawin the year 2003 but after one and half year of our marriage i come to know h=my husband drinh=k very heavily and slowly he started torturing me mentally and physically this affected our married life .he is earing 30 thousand per month now i want divorce but he is not ready .we are living saperately since one and half year .i wan divorce with maitenance .we have only one daughter .plz suggest me