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summa (Software Er)     01 September 2009

Personal loan

please advice what banks can do
If you do not repay your personal loan(mostly half of the emi's paid) and leave the country india



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 3 Replies

Prakash Yedhula (Lawyer)     01 September 2009

Bank can very well sue for recovery against the person with the address of his last known residence and obtain a decree. The properties of that person can be attached even before judgment is passed and in case of a decree can be sold and the amount realised.  

Y V Vishweshwar Rao (Advocate )     02 September 2009

 Prakash ji you  have   given suitable reply   !

   

A.K.D Sayare (Advocate)     03 September 2009

i would like to add to what Y Prakash, has said.

In case you have given PDC or ECS then bank can prosecute you in criminal case under 138 or under the payment and settlement act.

They can file criminal case against you for cheating and then arrest warrents can be issued against you. 

That might create trouble for you if you travel abroad.

 

 

 


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