Repayment of educational loan
pragati gupta
(Querist) 14 March 2013
This query is : Resolved
Hi Experts,
One of my client had taken an educational medium term loan from a nationalised Bank in the year 2007 Dec for a course of 1 month without providing any security and third party guarantee with repayment option as"course period +1 year, or 6 months after getting the job,whichever is earlier".But unfortunately she did not any job.
In 2010 several calls from bank were made to her to repay and subsequently she received one letter stating that the loan account has become NPA and asking her to regularise the account.
Again in march 2010,she contacted with the bank and she was asked to give 12 Post dated cheques wef Apr 2010 up to Mar 2011.
In which all the cheques except one got dishonoured,in November 2011 she was sent the legal demand notice.Since then there was neither any intimation from bank nor any suit was filed against her be it 138 of N.I. Act or under any other section.
Now in January 2013 the bank had sent one letter stating that it would publish her name in local newspaper.
She is a poor unmarried lady who now resides in different state and not working.
As far as my knowledge goes it is a time barred debt and period of limitation has already passed and it is just a threat letter.
So is there any remedy available for her?
Kindly help.
Raj Kumar Makkad
(Expert) 14 March 2013
She should duly send reply of legal notice received from banker and should warn it not to go ahead as threatened otherwise your client shall be free to file defamation suit against all erring officials of the bank if her name is published in newspaper.
pragati gupta
(Querist) 25 March 2013
Sir,Thank You very much for your reply, which is indeed very useful to me.
