Legal Question in Banking Law in India

If I don't pay the loan emi for six months what the bank could do


Asked on 3/08/10, 10:47 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

(a) Recall the loan and raise a demand on you;

(b) file a civil suit for recovery and obtain a court decree against you.

(c) The court may, in execution of decree, attach / sell your assets.

(d) If you try to avoid payment, possibility of CIVIL IMPRISONMENT cannot be ruled out.

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Answered on 3/08/10, 5:02 pm


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