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Usha   19 August 2016

Sbi bank unsecured loan amount

My father took loan amount of 24 lakh from SBI bank without any security given. Within 6 months my father passed away.we were unable to run the business and after one year we settled 29 lakhs to the bank including interest and wrote letter to the bank stating that we cannot pay the amount more than this because of our financial situation.now after 3 years bank is asking us to pay 5 or 6 lakhs to close this issue.we are not in a position to pay additional amount. Could you please help me what should I do in this case.


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 2 Replies

adv.bharat @ PUNE (Lawyer)     19 August 2016

Why u had not taken Loan no due certificate since 3 years from the bank?

Please confirm rate of interest and pricipal amount is any pending from past three year.

Read the loan TOR carefully since it give idea about rules for repayment of loan amount.

If u like my suggesation then give THANKS on my LCI profile.

Kumar Doab (FIN)     19 August 2016

You should have consulted in advance.

You should have obtained loan a/c statement, agreement to pay Rs..............., Fulland Final Payment reciept,NOC.

Now it shall be better to proceed further under expert advise of an able counsel specializing in such/banking matters.


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