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vikram singh (none)     22 June 2014

Insolvent person or bankruptcy

My father took some loan almost 10-15 years back of 2 lakhs from private loan lenders, due to some emergency.He had to give blank cheque to get the money and signed bonds. The interest was 2-6% per month. Unable to pay the whole amount the interest keeps on increasing and he sold all his property over the years but still the debt was very high. He consulted a lawyer and filed a IP or bankruptcy case in andhra pradesh.But its been 1 and a half year but the numbering still didn't come.The lawer adviced him to flee atleast till the numbering comes, so he did.But every date the lawyer gives, after the date comes close he extends it.And also he told that there is no need to come to the court,as he will provide some medical reason for the absent on court date, and after 2-3 years the case will will be in your favour.How much time does it take for the numbering to come? And is this method adviced.What can I do If the loan people are harassing me?



Learning

 1 Replies

Adv Archana Deshmukh (Practicing Advocate)     22 June 2014

It is surprising that the case is yet to be numbered even after one and half year of filing. It takes only a few days to number a case, if not numbered on the same day. It will be better if you go to the court and personally check with the administration of the court and about the filing of the case. Otherwise take the help of another local lawyer.

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