unable to pay bank dues
subramanian Ramiah
(Querist) 23 September 2009
This query is : Resolved
My son has obtained personal loans from
banks . Due to City Limouzines fraud he is
unale to repay the the loans. He was promptly paying so far from remittances received from City Limouzines. His monthly salary is Rs. 10000 only. I want to help him by disposing a property inmy village. If I go for selling urgently it may be fixed at 2lakhs. His dues are around 10 lakhs. Kindly adviseriven
Shivasurya
(Expert) 23 September 2009
Dont worry Mr. Subramanian Ramiah, No bank has right to harrass its customers for collecting the dues. Contact any lawyer to stop unnessessary torture of the banks. If you need further assistance contact me to mobile No.9840273647, I am practising at Madras Highcourt, Chennairiven
Arul Kumar
(Expert) 23 September 2009
The Bank will take action as per the law. So you approach the Bank and reaveal you position. You can surely negotiate with the Bank regarding payament of the future EMI. The Bank may consider your position. You can avoid the harrassment but not your liabilities.riven
Kiran Kumar
(Expert) 23 September 2009
i agree with Arul, after all banks deal with the public money...u can enter into some negotiations with the bank for postponment of the payments as per the bank policy if any but the liabilites can not be avoided....dont sell u property in haste, consult some local lawyer to find way out.riven
Sachin Bhatia
(Expert) 23 September 2009
Mr.Subramanian Ramiah, dont get panic, bank has no right to harass your son. You can negotiate with the Bank regarding payament of the future EMI.riven
PARTHA P BORBORA
(Expert) 23 September 2009
INFORM THE BANK IN BLACK AND WHITE ABOUTTHE PRESENT FINANCIAL CONDITION AND PL NEGOTIATE WITH THE BANK TO RE FIX THE TERMS OF REPAYMENT. THE BANK WILL GUIDE U HOW TO SOLVE THE PROBLEM.riven
Raj Kumar Makkad
(Expert) 23 September 2009
Fully agreed with the opinion of all my learned friend experts.riven
Adinath@Avinash Patil
(Expert) 23 September 2009
It better to approch bank settal the matter in one time settalment.You will get benfit from bank.riven
charudureja
(Expert) 23 September 2009
i agree with Kiran Ji and Sachin Ji.riven
subramanian Ramiah
(Querist) 24 September 2009
I thank all freinds for their guidance in
this matter. I still wonder what is the role of SEBI; role of RBI; and the role
of Registrar of Companies in protecting the innocent and gullible public who deposit in fradulent companies such as City Limouzines.
As the newspapers also carry the advertisement for these fradulent firms ,I
want to know whether they are abetting to
the fraud. What kind of PIL can be Initiated against the officials for dereliction of duty for not monitoring the fradulent companies.riven
Raj Kumar Makkad
(Expert) 27 September 2009
There are various procedures to initiate actions against such fraudulent companies but one has to become active and has to persue the matter as of him otherwise officers cannot be blamed and if blamed they get themselves freed under some technical reasons. Better approach either/all of authorities mentioned by you and sincerely persue your matter. I think you shall get gud results.
