Arbitration notice
Nooruddin
(Querist) 10 October 2012
This query is : Resolved
Hi sir
am having a personal loan from hdfc bank i had paid most of the amount . and i want to do settlement on my mentioned amount not on the bank mentioned
As off now iam not able to arrange the money i require another three months to fully pay the amount
but here the problem is i have got notice asking me to come and present
How should i proceed ?
Is it must for me to attend the hearing?
Should i hire a lawyer ?
Please give me guideliness asap how should i proceed
My hearing is this week 13th oct
R.K Nanda
(Expert) 10 October 2012
attend hearing with lawyer.
ajay sethi
(Expert) 10 October 2012
you will have to file reply to claim . how much is amount involved? better engage a lawyer
Nooruddin
(Querist) 10 October 2012
60 thousand rupees is the pending amount
surely i will engage a lawyer
but on the day of hearing i will not be in town due to urgent work
if i dont attend will they take action on me ?
can you brief me sir what are the steps they can take if i dont attend the hearing
2. Is it possible that i can directly contact the bank officials rather than go for a hearing ?
3 will it be better to have a lawyer while contacting the bank officials ?
4.Can i file a case against the bank for demanding more money than the actual original amount
5.what steps can they take if i ignore all this procedures ?
please sir provide me answers to my above mentioned questions
Thanking you all in advance
Devajyoti Barman
(Expert) 10 October 2012
Try yo go for amicable settlement which is most of the time allowed by bank.
Do engage an advocate and contest the case if talk of compromise fails.
Your personal presence is not required.
ajay sethi
(Expert) 10 October 2012
f0or rs 60,000 it is better to settle case out of court . contact HDFC bank and offer to pay amount in installments .
if you engage a lawyer expenses will be high and you will spend more than the amount involved
Nooruddin
(Querist) 10 October 2012
thank you
i will contact the bank but what about the hearing which is in this week
should i ignore it ? and just contact the bank officials
Wont they take it in wrong direction ?
ajay sethi
(Expert) 10 October 2012
attend the hearing on your own. inform the arbitrator that you want to settle the matter . need time to make payment
Nooruddin
(Querist) 10 October 2012
Thank you
