CgTmse scheme

raghava (Querist) 17 September 2016 This query is : Resolved
Sir I had taken a loan from sbi bank for industry after a year I have lost that bank has went to court and as usual the got decree aginest me I find have money to pay the amount is 6lack+ now am driving the Ola cab and don't have money to pay them. Now bank people are telling thy will present the check which I given on the time of avail loan can I get proper response to how to come out from this issue can thy send me jail?

Follow Query

Report Abuse

raghava (Querist) 17 September 2016
Above said loan is under cgtsmse scheme

Rajendra K Goyal (Expert) 17 September 2016
If the Bank is not able to recover from borrower, it would get 75% (or as per scheme) from CGTSME.

Bank would exhaust all available avenues of recovery from borrower.