India | Credit and Debt Law
10/24/09, 2:41 am
Legal Question
Dear Sir,
I obtained apersonnel loan from icici bank. The loan sanctioned to me against my salary status. Due to world wide recession, I lost my job. Besides, I invested the loan amount in an institute and frame the returns @ 160000/- pm. The same was absolutely earmarked to the personnel loan's emi. But unfortuately the institute was shut down thier biz.
Sinc,e the said reasons I'm bankrupt now, so, can you pls assistme, how to come out form this issue.
Awaiting for your helpw isr.
With Rgd
Venakt
NB:
My intention is always to repay the amount and not to cheat the bank.
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