Debts recovery tribunal
ThangamRaghavan
(Querist) 25 September 2013
This query is : Resolved
A bank has initiated recovery proceedings in DRT under DRT act (Not SARFAESI) against a borrower who is paying the EMI regularly but with some over due which have been left over by the borrower i.e non payment of EMI of 8 months in the middle period of mortgage loan due to his family problems but still he is paying EMI regularly. Now he wants to restructure the EMI of loan through DRT .Hence is it possible to get a direction for restructuring of the above said loan of the above said borrower from DRT to the bank concerned.
ajay sethi
(Expert) 25 September 2013
inform the Tribunal that you want to settle the case. make an offer of settlement to bank . it will consider your case . Tribunal cant force bank to settle
Rajendra K Goyal
(Expert) 25 September 2013
Make a request to Bank and to restructure the loan.
R.K Nanda
(Expert) 25 September 2013
BETTER CONTACT BANK FOR SETTLEMENT OF LOAN.
