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Abhishek Hajra (Regional Manager)     17 October 2011

Legal notice-unsettled personal loan


I need some urgnet Legal Advise and most probably a Lawyer to settle an old loan with IDBI Bank.

Took the loan in AUG 2005. Amount- INR 150000, Disbursed Amount - INR 146150.EMI in 48 installments.

Monthly EMI  INR 4137 paid through ECS on account maintained in ICICI BANK. Always been a regular payer,

then I left India in 2007 but I ensured that I always keep money in that account so ECS can happen without any problems.

Through the account statement I have proof that Installments paid up to Feb 2009. (That should be 42 installments ,but Iam not 100% sure.), Then I lost track as I stopped keeping money in the ICICI account.

Now about a week back I got news through my Friend who lives in INDIA that he visited the old place where we used to live and the person staying there gave him a legal notice which has come to them on my name from the Bank's lawyers.

They have filed a case claiming INR 109000 which is ridiculous.

I am ready to settle the loan but the justified amount whatever remains but not such daylight robbery.I need a good lawyer who can represent me in Delhi and close the whole case.




 9 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     17 October 2011

You may approach Mr. Arun Bhardwaj Advocate Delhi (Cell 098101096) in the present matter who can defend the present matter on your behalf.


You should opt one time settlement with your banker wherein maximum interest portion is waived off subject to deposit of entire settled amount immediately.

1 Like

Abhishek Hajra (Regional Manager)     17 October 2011

Thanks , Will contact him tommorow, Lets see.

ajay sethi (lawyer)     17 October 2011

you can  request the bank to give you statement of account . scrutinise the statement carefully . if you fial to pay on time interest keeps on accumulating and gets merged with the principal . in addition bank levies penal interest .


go and meet the bank officers and request for one time settlement if you have the funds .

Abhishek Hajra (Regional Manager)     17 October 2011

Thanks for the advise Ajay, I would have done the same if I was in India,unfortunately Iam not.

I am still to decide on whether I should approach the bank directly or go through a lawyer.

Actually Things would have never turned out like this If I was in INDIA, but its one of those things, important lesson that oversight and carelessness can cause trouble as I never bothered to check with the bank whether the loan is settled from their side  or not and now today instead of 24K Iam staring at a payment of 109K.

I will contact Mr.Bhardwaj tommorow to see if he is willing to take up my case.

I need any Lawyer who would represent me and  get me a proper NOC and clearance from the Bank .Please feel free to drop me an email so that I can send copy of Legal notice and other details to private email .

I would be grateful if someone quotes me a "Package " to finish all this which should include all legal charges and the settlement amount for the bank.



Pradeep Kumar (Lawyer)     18 October 2011

Respected Sir,

Is this Legal Notice Under the Section 138 of N.I Act?If yes,then I Guess you have the reply to the legal notice promptly.One more thing,I am sure you might have given the  security cheques at the inception of taking loan.Please check that out.For further info please e-mail the legal notice at


Pradeep Kumar & Associates


Chamber-208,CSA Block,

District Court,Gurgaon

(M) 09871765000


Nadeem Qureshi (Advocate/     18 October 2011

Dear abhisek

as per my opinion and according you information the bank issued a demand notice to you and the amount is with total dues and charges, firstly see that the bank filed any civil or criminal case against you or not if the bank had not filed the case till now then talk to bank official and get your Statement of account in which clearly showed your total account, bouncing charges, late penalty and other charges. after that you can talk to them for settlement.

if the bank filed civil or criminal case then you need a lawyer.

you can call on 9953809956

Abhishek Hajra (Regional Manager)     18 October 2011

Thanks for all the wonderful advise that the forum experts have given so far.

After showing the document to my friend (who is a lawyer here) he confirmed its a Civil Recovery suit filed by the Legal firm acting on Behalf of IDBI, and the Legal document is actually court notice .Yeah I know learned lawyers will be laughing but not everyone know LAW as you guys.

I was unfortunately not able to defend myself or appoint any lawyer or speak with Bank since I only came to know of this once it all has been done, though I wonder how can I be served a notice when Iam outside India since 2007.

Now one thing is certain I need a lawyer to represent myself and settle this in court on my behalf.

I have spoken with my Dad he will be coming to Delhi with the money to settle it with the bank/Court(Iam really ashamed ).He is not keeping well but what to do? in INDIA only VIP and rich people get away with major crimes but its commoners like me who get screwed even for the slightest negligence as if Law has complete different definitions based on the client.

I request someone to represent me and let me know in private email about Fees etc so that I can make some arrangements.

RITU RAJ SINGH (TRAINEE)     19 October 2011

i how many day BCI registration take place

RAKESH PIPRODIA (ADVOCATE)     20 October 2011

you can approach ADVOCATE MANOJ SOLANKI (CELL NO. 09757029177) who is a lawyer specialises for settlement of credit cards and bank loans only.He has masters in this sort of cases.

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