Legal Question in Banking Law in India

law against personal law

dear sir,

one of my relative had taken a personal and he is no more but the bank is asking asking to pay his loan to her wife ,who is illiterate and had 5 kids (girls),she is right now she is working in place of her husband but at lower post and getting only Rs3500/month and pension of Rs3500 ,please suggest what to do.


Asked on 9/17/08, 1:50 pm

4 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: law against personal law

If the wife has no assets of any worth like immovable property or bank deposits, the Bank has a right to proceed against the said assets in her hands. She or her children are not personally liable for the loan taken by her deceased husband. If she has no assets of her husband in her hands worth something, she can tell the Bank that she is not liable

Read more
Answered on 9/17/08, 9:34 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: law against personal law

Please check whether wife and children are gurantors or coborrower or in any way liable to pay the loan and inform the Bank about the same.

Read more
Answered on 9/18/08, 4:34 am
Nasir Butt Nasir Law Associates

Re: law against personal law

Please note that in loan cases personal personally or his property is liable for the payment of loan. If wife has inherent property of her husband, then she is liable to the extent of whatever she has inherited. So far as pension is concerned, it cannot be attached.

Read more
Answered on 11/06/08, 5:56 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: law against personal law

If the wife is not a co-borrower or a guarantor of loan taken by the husband, she is not obliged to pay the loan.

Please tell the Bank that she has no liability for repayment of this loan.

Pension in the hands of wife cannot be attached towards repayment of husband's loan.

Read more
Answered on 9/17/08, 5:08 pm


Related Questions & Answers

More Banking Law questions and answers in India