Legal Question in Banking Law in India

Dear Experts, I have an Axis Bank Credit Card on which payments were made regularly on time. The OS was Rs.70,000 as on April'15. I lost my job in April and living out of meagre savings. One payment was made in June'15 after that no payment. Suddenly in May'16 received a letter from a Mumbai advocate that Arbitration will be awarded ex-parte if not visited within 7 days.Kindly help. It is not possible to go to Mumbai due to expense constrain. What will be the course of action in case of Arbitration Order. I'm still jobless.Please help


Asked on 5/12/16, 5:37 am

2 Answers from Attorneys
Dr Katta Venkata Rama Krishna Drkattavrk

Engage a local advocate who will arrange a Mumbai advocate to contest on ur behalf.

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Answered on 5/12/16, 6:25 am
Fca Prashant Chavan Expert Edge LLP

12.05.2016

Dear Sir / Madam,

You should contact the local Axis Bank in your vicinity, discuss the matter with the local Branch Manager and reach an understanding on the method and period and settlement of your Credit Card outstanding and file your email and written reply with the local Axis Bank branch and copy it to the attention of the Branch Manager of Axis Bank in Mumbai who have issued you the Card and have issued you the notice through their legal attorney / counsel.

Regards,

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Answered on 5/12/16, 8:13 am


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