Personal loan in uae
soham
(Querist) 10 July 2013
This query is : Resolved
Sir - I have taken a personal loan from UAE local bank, immediately after I lost my job. Somehow I came back to india. Its already 8 months I am unable to manage a job and not in a position to pay them back.
Now got a mail from bank that if i don't pay the loan in full with other charges, they will start legal actin on me.
I am not able to manage the loan amount as well as i do not have any job now.The EMI is too high to manage from india. I have no saving and no job now.
can u pls advice on this what to do. I have the termination letter with me.
Can they send police to my house in india or what action they can take.
Adv Archana Deshmukh
(Expert) 10 July 2013
It depends upon the laws in UAE and what action is provided to be taken against the defaulter. They may sell your property there if you have any. Try to settle the matter with the bank if possible.
soham
(Querist) 10 July 2013
Thanks mam for prompt response.
I have nothing in UAE, i was there in employment visa. came back already 8 months passed and my visa also cancelled as out country cancellation after 180 days.
i intend to pay but i have no option now at all.
Adv Archana Deshmukh
(Expert) 10 July 2013
Try to settle with the bank and see if they can make some adjustment in the loan and extend time.
Guest
(Expert) 10 July 2013
According to the bilateral extradition Treaty, Mutual Legal Assistance Treaty in Criminal Matters & Mutual Legal Assistance Treaty in Civil Matters: Signed in New Delhi in October, 1999 (effective from May 2000) the bank can seek your extradition by the Indian Government to UAE through the UAE Government.
According to mutual Agreement on Juridical and Judicial Cooperation in civil and commercial matters: Signed in New Delhi in October, 1999 (effective from 29.5.2000), they can get you arrested in India and sue you also in the UAE.
Since the laws of the gulf countries are very stringent, you may better settle the matter with the UAE bank amicably, either by getting the EMIs eased or extended, or by full and final settlement by arranging the amount.
R.K Nanda
(Expert) 21 July 2013
nothing to add.
Sudhir Kumar, Advocate
(Expert) 25 July 2013
further, please check whether non-refund of loan is civil or criminal offence in uae and whether penalty is simple imprisonment or it is chopping of hand (as in case of theft)or flogging.
