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raju (director)     02 July 2013

Recall notice u/s 13(2) and 70/34



I had taken a loan of Rs.28 lac on 1/6/2012 from a local bank , and till date we have paid the installments but its not done on dates.,

I have recd a recall notice from bank informing that they are cancelling by SCC a/c and term loan ( recall notice) u/s 13/2 and 70/34 , mentioning certain reasons like not maintaining the account, irrregular payments.

they have asked me to pay the whole amount with in ten days.

It was also mentioned that my account had become NPA as on 31/5/2013.

I wrote a letter to the bank, informing that i had paid the installment on 2/6/2013 and requested them to give me three months time to clear the issue.

I had also written the details of the payments recviable, and the current project's .

bankers are not in any mood to listen, and today morning they visted the house and harrased my parents and told them if the loan is not cleared in two day's the property would be acquired.


need advice regarding the same.





 1 Replies

Advocate Sastry (Advocate)     02 July 2013

Please speak to their Regional Manager/Zonal Manager for solving the issue... You have not mentioned details of the loans and as to why the Account has been classified as NPA

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