Bank force recovery

Hi,

 

What kind of a loan was that ... 

 

Warm Regards 

Kapil Chandna Advocate 

9899011450,9911218741 

https://kapilchandna.legal/

It is presumed that it is a term loan and recovering it in 2017, after 20 years of your father's death is shocking.  This is particularly  shocking, as the amount was advanced in 1980 and your father died in 1997.  Forget about such threats for the present, and they can not bring any action against you unless you have signed.  I can not still believe how they are remaining silent without obaining any debt acknowledgment etc.  (Or else they might have treated it as a lost account, and suddenly if the real estates prices are increasing, they may be trying to get some amount back by disposing collateral security)

according to my opinion, bank can take steps against you all for recovery of amount. But, there is some limitation period to recover the same. How ever the facts may come to light. during the trail before the court. Contact senior advocate to defend your case. limitation period for un registered deed is only 3 years and limitation period for registered deed is 12 years. But the transaction was taken in the year 1980.

They had calles us at bank and explained some ots scheme wher we signed some form but it was done forcebly by us by threatening us that the amount will be liable on my son too and they have to repay them

My question still arises can they charge interest even after he is dead

I googled a lot Bank can take action only on the property which belongs to him why are they harrasing us for recovery and that to loan amount is 4 lac and their ledger is showing 2 crores

They can charge interest till the amount is fully repaid, but they will not show the income / revenue and have such calculation on the ledger..  Once it is declared as loss asset, charging interest is against RBI directives.

Immediately file RTI Application and seek those documents on which your signatures were obtained under RTI, you ought to have consulted a known friend or relative before going to Bank and signing.  To state  "we signed some forms is  not a responsible act.

 

They have given us a printed leger sheet with outstanding of 2 crores the bank already knows that my father is dead and death certificates have been produced that time and we sisters had instructed to bank to collect theri loan amount by selling my dads property

The bank have a charge only on any asset left behind by your father and not on anything else.