Bank loan payable upto


A vehicle (Truck) loan have been taken in 1980 repaid some part of it till 1988 however after that no payment have been done. Now after 30 years bank was asking for payment of outstanding with interest. No letter have been received previously. What is the customers liability in such case.

Bank haven't asked for payment for such a long time?

Account has been made NPA?


Please suggest with relevant Section and Case law in such case

 
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Dear honorable members,

 

A Nationalised bank runs one year PGDBF course in collaberation with a famous university of india.After successful  completion of this course they absorb the candidates as probationary officer in that above mentioned bank.if a candidate fails to complete in twelve months they give relaxation of extra 3 months.But i failed to complete the course in given time period due to my personal family issue.I took 18 months to complete the course i.e, instead of 15 months i took eighteen months.At the time of last attempt the university official did not make it clear whether i will be absorbed or not.They promised me that they will appeal to that particular bank to absorb me as PO.Now nobody is giving me clear answer.what is going to be my future?

I would like to bring out the fact that for doing this course i was given a loan of 4 lacs by that nationalised bank.For availing this loan i had to deposit all my educational qualification certificates with that bank.

Now i am in confusion whether i will be absorbed or not?

If they dont give me job how i will repay my loan?

I don't know how i will get back all my certificates.

I am very desperate!Kindly help me out.

With regards,

Thanking you,

Suman Rakesh bakhla

 

         

 
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Advocate

The case is highly time barred.

 
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FIN

@Rahul, The case is hopelessly time barred.
 
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FIN

@Suman, You may show the communications that you have sent explaining your personal problems, asking for extension etc...contract that you have signed with bank/university detailing T&C , communication asking for submission of certificates etc to your lawyer...and let your lawyer find some loopholes and merits on which you may contest... Your original certificate are your property and no one including bank,university can have any lien on it.
 
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Thank you kumar sir for your valuable opinion.....

I want to ask you one question?If i will take this issue to the labour court......will they can help me out of this situation?because what i am facing is becoming too horrable for me and bank don't want to even listen my problems.

This time i make it sure i will take the bank to the court and let my certificate back with me.

Sir,kindly tell me am i going in the right path or not?

 
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FIN

As already pointed out you may show each doc on record starting from course advertisement, conditions to deposit certificate, acknowledgement issued for certificate etc to your lawyer and give inputs in person and understand the remedies and merits before you proceed further......
 
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its time barred under the limitation act. may be the under mentioned judgement can help u.

HIGH COURT OF DELHI AT NEW DELHI

 LPA No.942 of 2011

Reserved on: March 05, 2012

 Pronounced on: April 20, 2012

SOMNATH MANOCHA

CORAM :- HON’BLE THE ACTING CHIEF JUSTICE HON’BLE MR. JUSTICE RAJIV SAHAI 

36. Limitation No secured creditor shall be entitled to take all or any of the measures under sub-section (4) of section 13, unless his claim in respect of financial asset is made within the period of limitation prescribed under the Limitation Act, 1963 (36 of 1963).”

 



Attached File : 472939059 somnath manocha vs punjab and sindh bank & anr. on 20 april, 2012.pdf downloaded 92 times
 
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Dy Director

is the vehicle still hypothecated to bank.

 
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