Icici bank personal loan collection regarding
Ayub Hussain
(Querist) 08 December 2012
This query is : Resolved
Sir, I have a client who had taken a ICICI personal loan in 2006, and there is some payments pending and he was harassed by the recovery agents in 2007 , and he complained the matter to the jurisdictional police station who in turn warned the recovery agents against commiting any further blunder of harrasing this gentleman , and from then on none of them came for recovery of the loan, but from last two days he is getting calls from the ICICI bank that the loan balance payable by him is due at Rs.6.5 lacs with uptodate interest etc,. after 5 long years they didnt turn up now they have come for asking the loan repayment in one stroke settlemant.
Dear experts please suggest wat has to be done now since the party is in lots of debts and in a poor condition now. and wat is the legal remedy ? is there Any limitations for the recovery of personal loan recovery ? kindly advise on this issue please.
Ayub Hussain
(Querist) 08 December 2012
DEAR EXPERTS.
IF A PROPERTY IS PURCHASED IN AN OPEN PUBLIC AUCTION BY THE TAHSILDAR AND THE DC. IN THE BDA LAYOUT, AND THE SUBJECT PROPERTY IS SORROUNDED BY ALL BDA ALLOTED SITES, IS THE BDA EMPOWERED TO ACQUIRE SUCH PROPERTY WHICH IS SOLD BY AN PUBLIC AUCTION BY THE TAHSILDAR ?
PLS ADVICE ON THE SAME
prabhakar singh
(Expert) 08 December 2012
In reply to your first query Unless any acknowledgement was signed by the debtor with in three years of the advancement of debt or
any payment made with in three years,the LOAN HAS BECOME TIME BARRED AND IS NOT RECOVERABLE
BY LAW SUIT.The debtor must not now make any part payment and must not make any new acknowledgement of the debt and should plug his years to duns made by banker .
prabhakar singh
(Expert) 08 December 2012
With regard to second query answer was given to you earlier and your cause is safe as THE BDA is not EMPOWERED TO ACQUIRE SUCH PROPERTY WHICH IS SOLD BY AN PUBLIC AUCTION BY THE TAHSILDAR .
Ayub Hussain
(Querist) 08 December 2012
THank u so much sir.
Raj Kumar Makkad
(Expert) 08 December 2012
I do agree with the advice of Mr. Singh.
