Legal Question in Credit and Debt Law in India

hi sir

recently we have taken commercial vehicle loan and we are not able to repay the vehicle loan as market rates are very less and loads are not sufficiently available due to sudden economy slowdown. what will be my liability? Will bank or NBFC ask me to pay the difference of amount after sale of asset?

Asked on 11/20/19, 10:15 pm

1 Answer from Attorneys

Jayesh Desai Jayesh Desai

You will be liable for outstanding amount as well as interest.

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Answered on 12/19/19, 12:05 am

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