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G. Prakash (proprietor)     21 May 2012

Reg : credit card & personal loan repayment

Dear All,

     Kindly note that, some of the people had borrowed money from me by given cheque leaf and  stamp paper as security.  But most of them are not repaid properly.  So far as per my calculation the NPA is Rs. 4 lakhs.  Meanwhile, i've dues in  HDFC, ICICI, SBI CREDIT card and personal loan.  Since, the money was given by me  is not coming, i'm in a situation of not repay the dues properly from last month.


     I've given this reason to the collection executives & Agents who belongs to the above mentioned banks, while they contacted me to my mobile and land line.   But they've not accepted and they come to my home and harrassed me regularly even i answered over phone.


     Kindly advice me, shall i give police complaint and take any other steps for my safeguard.

Thanks and regards,


 3 Replies

Prasun Chandra Das (Banker)     21 May 2012


Your loan and credit card facility from the banks AND the loans you have extended to some people are separate loans - you cannot link these together. Irrespective of your getting payment from your borrowers, the banks are right in asking for repayment. Banks have loan recovery policies as per RBI/Govt/internal instructions, and if these are contravened, you may go to the police/courts. For recovery of the money you have lent, you may have to proceed against them legally.

G. Prakash (proprietor)     21 May 2012

Dear Sir,


       Thanks for your immediate reply.  I'm sorry to say that, i was unable to convey my thoughts in right way , i.e. my intention is pay the dues to the banks.  But, unfortunately, at present i'm in a situation of, unable to pay the dues immediately.   But i've to pay the EMIs'.  If  i get time for a period of one year i could repay the dues.  Shall i get the time frame from the bankers.  What should i do for getting time limit.

ADVOCATE Prem Joshi (Advocate/ Legal Consultant)     21 May 2012

Its sole decision of bank that thay give you time or not. But you can filed the complaint against the collection agent 

as per RBI regulation, 

if they are harrassed you. Paid the amount asap otherwise you will be face the court case in the future.

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