I have taken bill purchase facilty from nationalised bank in 1999 of Rs.4 lakhs and provided my residential premise as colletral security but due to heavy financial losses i couldn't clear the bank loan I taken against bills & colletral security. In the years 2005 I pad Rs.1.50 under OTS and balance amount in 12 installments in one year but due to financial problems i not cleared the pending OTS amount. From last six years I have not received any response from my bankers. Wheather bank can file suit against me to recover dues as my colletral security is with bank or loan is now Limitation barred. My financial position is very worst , Kindly response in the matter.
