cpc

time barred loan


Dear sir, I have taken a personal loan of 5 lakh in 2007, paid an amount by emi till 2008 dec.. not paid till date due to personal issues, now they have found me and harresing me.. is the loan not time barred..

 
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legal advisor

Whatever it is its your duty to repay the loan.
 
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FIN

It may be hopelessly time barred, however yo have borrowed and you should pay.

 
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I agree but . they are asking for 4 lakhs, they have brought gondas, they said they will file a criminal case and arrest me. Is this possible

 

 
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I agree but . they are asking for 4 lakhs, they have brought gondas, they said they will file a criminal case and arrest me. Is this possible

 

 
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FIN

It is civil liability.

The debt has probbaly been sold to Recovery agencies/ARC and as usual they are reckless, rowdy.

Record all transactions (audio/visual/witnessed/minuted).

Lodge criminal/police compalint, against these goondas, owner of agency, local BM and MD of the bank.

 

 

 

 

 
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FIN

 

There are many thread on similar queries e.g;

http://www.lawyersclubindia.com/forum/Harrasment-by-icici-banks-recovery-agents-76271.asp

 

 
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FIN

http://www.lawyersclubindia.com/search_results_custom.asp?dir=forum&q=harassment+by+ICICI+bank+recovery+agents&B1=GO

 
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Sir, But can they file a civil suit as my cheques are outdated and its time barred 

 
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FIN

Did they ever present the cheques?

Do you have any document with date showing collection of chques?

Are the cheques dated and filled?

Did the agent confirm that bank has handed over the cheques to agency?

Did the agent show his ID card and authority letter from bank?

Did bank ever write to you about agency?

Engage an able counsel 

 
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