New LIVE Course: Learn the Practical Nuances of IPR Drafting by Adv. Gautam Matani. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sbi card default

Querist : Anonymous (Querist) 26 September 2020 This query is : Resolved 
Hi members, I defaulted on SBI card and last payment made was on jan 6, 2016. In 2019 i got letter to attend lok adaalat mediation center and then got demand notice. I ignored both of them and now I got Invitation of concialation under sec 62 of arbritation act and its also mentioned that If i ignore this they will file civil and criminal case. Since 2016 I am getting statments in emai. Also I sent few emails in may 2016 to settle the debt but nothing happen and since thwn there is no communcation done from my end.

Please suggest is my debt time barred which is for 3 years after my last payment
Rajendra K Goyal (Expert) 26 September 2020
If you have never acknowledged the debt (in writing / through e-mail or otherwise) between 2016 to 2020 debt is time barred.
Advocate Bhartesh goyal (Expert) 26 September 2020
Debt is time barred as per facts narrated by you.
Querist : Anonymous (Querist) 26 September 2020
my last email sent to sbi was on may 25, 2016 to settle the debt and after that I never sent any email to them...So if we start from May 26, 2016 till may 26, 2019 3 years got over...Also I never got any summon from court..I only got 2 letters in mail that was lok adalaat mediation center and demand notice and 1 in email for arbritation..I kept changing my numbers so that they cant contact me.

I never got any summon from time I saw suit filed thing on my credit report but that was also removed and There is only written off status on cresit report
Dr J C Vashista (Expert) 27 September 2020
Mr./ Ms. Anonymous,
Did you accept your liability for outstanding amount against you in your correspondence with Bankers ? If so, it would extend limitation, otherwise, the loan is barred by limitation.
Hope you must have been given a specific name by your parents to mention / be called by world, is there any problem in mentioning it in the column "author" of this post ??
Querist : Anonymous (Querist) 27 September 2020
Hi sir, my name is varun, last time I sent email to them was on May 25, 2016 when I requested for settlement but after that there was no email sent from my end but they keep sending statement in email and letters at my address, also none of the letters were accepted by me, all where accepted by my parents
Rajendra K Goyal (Expert) 27 September 2020
You were called in the Lok Adalat, it seems the case was already filed by the Bank.

If the case was filed before 3 years, the loan is not time barred and can be recovered from you.

When the case was filed by the Bank in the court?
Querist : Anonymous (Querist) 27 September 2020
its was back in 2016 around sep,oct 2016 when lok adalat notice came and after that only got 2 was demand notice and another one in email for arbritation
Rajendra K Goyal (Expert) 27 September 2020
There seems the possibility that the Bank filed the case before the debt was time barred, search the record of court if possible take help of some lawyer.
Querist : Anonymous (Querist) 27 September 2020
which court site I should check
P. Venu Online (Expert) 27 September 2020
Admittedly, you had defaulted the payment without any valid reason and made every effort to evade or hood wink the due process of law. In my considered opinion. this platform is only meant for needy persons who are caught in the clutches of law and its procedure due to causes beyond them and are genuinely in difficult situations.
Querist : Anonymous (Querist) 27 September 2020
I never defaulted payment without reason..I paid 1lakh in one payment from my savings to avoid default..but my salary was not that much so that I can avoid default.My son has tumor on his eyes and I am saving money for it..thats why I gave option of paying 3000 every month but they denies..Still I will join arbritation tomorrow and will inform them about my situation..I can still pay 5000 every month but not more then that..Lets see what happens tomorrow..but definately I will ask if they filed suit against me before if they saw no then will tell them about limitation act of 3 years and will go from there
P. Venu Online (Expert) 27 September 2020
All the material facts ought to have been posted in the opening post itself.
Querist : Anonymous (Querist) 27 September 2020
so tell me what to do?
Rajendra K Goyal (Expert) 28 September 2020
You should avoid attending arbitration without discussing with your lawyer.
Sudhir Kumar, Advocate (Expert) 28 September 2020
The limitation is revised the moment you agreed for settlement as this is acknowledgement of debt.
P. Venu Online (Expert) 28 September 2020
The real question is whether the recovery is barred by limitation. Any event after the period of limitation does not does not revive the enforceability of the recovery of the debt. This definite suggestion in this context would be possible only if the documents are perused and issues are discussed threadbare. In this context, you may take assistance of a local 'professional' lawyer and also, a knowledgeable retired bank official
Querist : Anonymous (Querist) 28 September 2020
there is no time left because at 11am today it will start..Shall I join and first ask them if they filed case before and if they will say no they will inform them about tme barred..I spoke to my lawyer friend he also said first need to join and based on there answer will go forward
Querist : Anonymous (Querist) 28 September 2020
So I attended the concilation meeting...asked them to provide any legal notice sent to me and statement of claim filed..they ignored that question and when asked again that its time barred debt as its more then 3 years and no settlement claim was filed or recieved by me..then they got irritated and said haa haa kara hai file and when asked for receiving date they said they dont get receiving because they send it by mail and they didnt discussed settlement after that..sounding fishy to me..Not sure what will happen
Rajendra K Goyal (Expert) 29 September 2020
Such action was hoped.

Seems the arbitrator would award in favor of the Bank and Bank would proceed to recover leaving behind your claim of limitation.
Querist : Anonymous (Querist) 29 September 2020
how come arbitrator will go in favour of bank if they didnt filed statement of claim and I never got legal notice..
Querist : Anonymous (Querist) 29 September 2020
how come arbitrator will go in favour of bank if they didnt filed statement of claim and I never got legal notice..
P. Venu Online (Expert) 29 September 2020
Arbitration is permissible only if the loan agreement provides so.
Rajendra K Goyal (Expert) 30 September 2020
Please refer to arbitration clause in your agreement to have reply of your query.

You have attended, no other intimation required otherwise.

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now