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credit card

(Querist) 19 September 2009 This query is : Resolved 
KODAKKAL SHIVAPRASAD (Expert) 19 September 2009
without any proper evidence how bank could proceed further ? If they send such letter only for the sake of ill treat, then you should take this matter with your nearest BANKING OMBUDSMEN department, so that it could be resolved with amicable settlement.riven
Shivasurya (Expert) 19 September 2009
No, the bank cannot proceed either civil or criminal action against you.
1. In India there is no proper law enacted regarding credit cards disputes
2. Any dispute arisan in guise of using credit card is purely civil in nature, hence bank cannot take action under law. According to International convention in respect of Human rights, no criminal action will be taken in civil dispute as it is totally against human rights. At the time of applying credit card, if you submitted any false/forged documents, then only the bank can proceed criminal action
3. Any civil suit regarding recovery of money, the bank shall file civil suit within three years. In your case you have closed your account from the October 2002, so the limitation for filing suit by the bank against you is already lapsed on October 2005 itself. So dont worry, if you feels any legal assistance for evading the torture of the recovery agents of the bank consult with any lawyer in your locality.riven
PJANARDHANA REDDY (Expert) 19 September 2009
LALIT, SHIVA SURYA IS SUGGESTED CORRECTLY,FORGET IT AS CRIMINAL OFFENCEriven
PARTHA P BORBORA (Expert) 19 September 2009
THE MATTER IS PURELY CIVIL. the limitation period in a money suit is 3 years. but the limitation period shall be calculated from the last demand notice received by u, not from the date of closur of the credit account. so if u receive any demand notice within last 3 years the bank can file a money suit against uriven
Bhumik Dave (Expert) 19 September 2009
Agreed with above learned.riven
Kiran Kumar (Expert) 20 September 2009
i agree with Shivasurya.

limitation period for both civil and criminal proceedings is already gone....dont worry.riven


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