W/s of money suit

Guest (Querist) 02 November 2015 This query is : Resolved
Dear All:

The borrower firm defaulted in repaying the loan to the bank. The plaintiff bank has initiated Money Suit in Hon'ble Court. The interest amount has gone up considerably. The firm was classified as NPA by the bank authorities.

My question is; apart form the general defences, what other defences can be raised in the w/s? Is there any way the interest amount can be brought down?

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Advocate M.Bhadra (Expert) 02 November 2015
Written Statement(W.S.)should be drafted according to the loan agreement and question of rate of interest. Defend the suit by a civil lawyer, you can take advantage of the lengthy process to dispose of the suit.

Rajendra K Goyal (Expert) 03 November 2015
W/s is to be drafted in accordance of the case and defence to be taken.

Ask the Bank to have settlement, Bank may agree for waiving good portion of claimed interest.

Guest (Querist) 04 November 2015
Thank you, Sirs....

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