Loan default
Guest
(Querist) 13 April 2013
This query is : Resolved
sir,
in the year 2008 i defaulted a loan(being guarantor) of rs 9 lacs of a cooperative bank as i was in deep financial crisis.
my file was with DRT in last stage and recovery orders were passed by the court when i left the city and migrated to another city.
today i wish to go abroad and earn my living.is there any possibility of me getting detained at the immigration at airport coz of my default in loan of 9 lacs?
Raj Kumar Makkad
(Expert) 13 April 2013
If the civil imprisonment orders had been issued and those were sent to immigration department only then you shall face such problem otherwise there is no no possibility as anticipated.
Guest
(Querist) 13 April 2013
how can i check that
Raj Kumar Makkad
(Expert) 13 April 2013
You need to personally contact for this purpose.
Guest
(Querist) 14 April 2013
how can i confirm to avoid such a problem at the immigration at airport? does for a Rs 9 lakh loan DRT and court usually send details of defaulters to the immigration....sir,can you suggest any way to safeguard myself?
prabhakar singh
(Expert) 14 April 2013
Normally it is not so.However Mr.Makkad has asked you to consult him personally.Then either call him on his cell or send PM.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 14 April 2013
You first get confirmed job abroad. People and system have no time to bother you for such small amount when people have dues in thousands crores.
It does not mean you should abscond but get the job and clear the dues.
More ever you are not main borrower.
ajay sethi
(Expert) 14 April 2013
Drt has passed recovery certifcate . recovery proceedings must have been intitaed in the above case . contact a local lawyer and find out what are orders passed by Recovery officer in said case .
Devajyoti Barman
(Expert) 14 April 2013
yes contact local lawyer and proceed further.
You need to file immediate petition to stop recovery proceeding.
Guest
(Querist) 14 April 2013
Sir, my intention is to earn abroad and clear my dues here as I can live in peace rest of my life.but if my local lawyer checks abt the orders won't the court or drt come to know abt me and things become difficult?
Guest
(Querist) 14 April 2013
In our case the borrower was our company and my father and we two brothers were directors and guarantors . My father expired and we 2 brothers are left
ajay sethi
(Expert) 14 April 2013
no managaing clerks and laywers can find out what has transpired in the matter . your lawyer can do the needful .
H.M.Patnaik
(Expert) 14 April 2013
If it was the company who defaulted in repayment of loan and concerned DRT has passed Recovery proceeding against Directors of the Company, then You must have engaged lawyers to defend your case and orders passed must be available with him.
I am surprised, as a Director you have not kept track of such important litigation for around 5 years.How can you expect the forum to lend advice in such a delicate issue.
Get in touch with your lawyer or other Director/ officials of the company for arranging a copy of the Recovery orders to properly proceed with your future plans. regarding
R.K Nanda
(Expert) 14 April 2013
agree with experts.
Guest
(Querist) 14 April 2013
Dear Patnaik sir,
I am very much aware that the court had ordered recovery proceedings and also attachment procedures were initiated.
i was more or less bankrupt and no money to repay the loan.before that my parents expired and my father was one of the director and he made us both brothers director .i had just finished my college and i was 24 so had no knowledge to deal with the same.so i left that place.now as i am getting an opputunity to go abroad and earn and i have clear intentions to repay that banks loan in order to have a smooth life furthur.thats why i wash to go abroad.so i was in 2 minds that go through immigration would be safe for me or not..
and if i am caught there then what am i suppose to do?
V R SHROFF
(Expert) 14 April 2013
It is civil matter, not criminal.
Guest
(Querist) 14 April 2013
shroff sir,what are your views on this case?
Raj Kumar Makkad
(Expert) 14 April 2013
I do agree that this is a civil matter but not a criminal hence the action accordingly is required.
H.M.Patnaik
(Expert) 14 April 2013
Dear Mr.Raj,
I have every sympathy with you.
However, Pl. bear in mind that at the time of filing documents for appointment of Director in ROC as well as filling up Loan application in bank , id as well as address proof would have been provided. Since the Recovery proceedings have been initiated by DRT against you, it is very likely that there may be problem from Immigration authority for leaving the country even if your intentions are good.
It will therefore be safer for you to handle the matter engaging an experienced local lawyer.
Devajyoti Barman
(Expert) 15 April 2013
Legal recourse is the only remedy left or be ready to get your property auctioned.
Guest
(Querist) 15 April 2013
sir,i dnt have any property in my name...i am a person undergoing financial crisis...But DEFENSE ADVOCATE says that nobody would run behind for so long for Rs 9lacs....?
ajay sethi
(Expert) 15 April 2013
well if RC has been issued bank will take all steps to recover its dues .
R.K Nanda
(Expert) 15 April 2013
no more to add.
