Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Mathew   04 December 2015

Limitation Act Personal Loan

I was approached by ICICI bank about a Loan that was taken in early March 2006. Of which I had paid until Oct 2006. Post which I had stopped payment as I had lost job, had to move out of the rented out as I could afford to pay rent which was manageable until I lost my Job. I did not get a job for 3 years, was working on petty jobs or contract jobs. I never had a stable place or job for almost 5 years with my family to take care off too. I didn't pay ICICI then and in 2015 it's close to 10 years, they found my address through my wife, they went to my in-laws on the pre text they dont have my details and shared all these details to embarrasse me. They didn't stop there they went to the place where wife works, while they still knew my phone number and address, after doing all embarrassed possible. We have now become thick skin. I told them I have cleared the loan on settlement in 2007 itself and if they think otherwise to approach me legally. Which they don't want to. I am reaching this forum to ask your suggestion on: how to close this issue on Limitation act as it's close to 10 years.the loan outstanding is 9lakh as per them they have added all fines and interest, while the loan given was 2.75 of which I have paid 51000. What are the other suggestions to keep thus recovery people from Harring my wife, my in-laws, my mother and me. Please suggest


Learning

 4 Replies

siddhartha sinha   05 December 2015

You can invoke limitation act only if the case is filed in court. Here you need to file a police complaint.

T RADHAKRISHNAMURTHY (Rtd.AP State Govt officer)     08 December 2015

Sir,

My son purchased a flat at Bangalore. As per agreement he has to hand over the flat by 10/2013. But till now he hasnot handed over. Whenever I contact he sinply stated the flat was handover within 6 months.When I ontacted evertine he sinply says like this.Theagreement is in force. What type of action may have to be taken. Pl.give your valuable suggestion. 

T RADHAKRISHNAMURTHY (Rtd.AP State Govt officer)     08 December 2015

Sir,

My son purchased a flat at Bangalore. As per agreement he has to hand over the flat by 10/2013. But till now he hasnot handed over. Whenever I contact he sinply stated the flat was handover within 6 months.When I ontacted evertine he sinply says like this.Theagreement is in force. What type of action may have to be taken. Pl.give your valuable suggestion. 

siddhartha sinha   10 December 2015

Send him a legal notice through an able lawyer. First find out the reasons of his delay.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register