Recovery process
Querist :
Anonymous
(Querist) 28 October 2010
This query is : Resolved
Dear Experts,
My client avail loan of Rs.300000/- against the goods from a Co. Op Bank in 1999. He was regular customer of bank and pay all the EMI regulraly.In the year of 2000 his business was closed.He has no income source after that and not able to pay the amount of loan so bank file a criminal complaint against him in the year of 2005 and also file a Summary suit in the Year of 2005. Bank get an order in summary case and criminal case is still going on. Now my query is after filing a case in to the police a swell as civil case So shall they ask my client for the payment of money?
Shell they issue notices to my client for the payment of loan?
PLS suggest because they are always follow my client for the payment of loan amount but he has no income source even he is not able to maintain his ruttin life. His wife selling a bengals and the ladies items and eary money for the to survive them selves.By regulaer tourtechring and follow up for payment my client sufferd from Heart Attach two times.Due to complaint file by the bank his all the reputation is going on and he is not in position to go to the out side.
So in this situation what is the legal remedy for me ?
PLS suggest.
Thanks in advance.
Devajyoti Barman
(Expert) 28 October 2010
Though one could understand the tricky situation, you client is currently undergoing, the circumstances certainly is not in his favour. As decree has been granted in the summary suit, the bank in all probability would file an execution case for attachment of his properties. If your client has not assailed the decree in the higher court then I could not see any other way out for him.
Querist :
Anonymous
(Querist) 29 October 2010
Dear Expert,
He don't have any property on his or his family members name as on date.
