Legal Question in Banking Law in India

I, an Indian citizen was employed in the UAE. Worked there for about 4 years.

During my stay, I had taken a loan from a bank in UAE. However, I lost my job and my employer cancelled my work visa forcing me to leave the country. I had no alternative and had no income to repay the loan.

Now I am in my home country and without a job for the past 6 months. Though I want to pay the loan back, I do not have any means to pay the same.

Can the banks in UAE take legal action on me in India? Am i liable to pay the same?

What alternatives do i have.

Thanks

Biki


Asked on 7/10/13, 4:13 am

3 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

10.07.2013

Repeat query ... already answered ... to be transferred to paid reply service

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Answered on 7/10/13, 10:46 am
J. Radhakrishnan independent Practice

Yes, the Bank can sue in India, provided they know your address in India.

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Answered on 7/10/13, 5:40 pm
uttam Tibrewal

Mr Biki yes you need to pay the loan........and they can take legal action .......

for any query mail me at [email protected]

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Answered on 7/11/13, 2:44 am


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