I had availed a loan of 29 L approx from a co-operative bank against a commercial property purchase of Rs. 39 L approx for a period of 7 years, loan disbursed in the month of Dec 2012. Post the intital 1 year of regular payments, I was unable to pay on time and then the loan turned into NPA. Of late, I have been able to pay them quite some amount and the oustanding amount payable with interest is 2.6L Only. Even in the scenario, the bank keeps sending attachment notice, recovery notice to me and the 2 guarantors. Last year they had even filed a legal complaint. When they had gone for legal complaint the total balance payable was less than 10 lacs.
Even after the payments, hasnt the npa become regular. My loan duration of 7 years stands upto Dec 2019. Why is so much of pressure by the bank. Is this a right process?