Sbi educational loan
Querist :
Anonymous
(Querist) 05 December 2017
This query is : Resolved
Dear Sir,
I have a educational loan worth two lakh rupees, as after completion of my Engineering I was not having job immediately, but after six month i was able to get a job but its salary was so less,7 thousand per month in pune, so i was not able to pay my EMI's regularly, now my account is in NPA, but i was regularly in touch with bank officials and was paying some amount per month, now they has called me for lok adalat, but I dont have that much money that i would pay it after the settlement, but I have good job now, I am afraid that they would seize my home which is my sole property, I am from very first ready to pay many time I convinced them to reset my EMis but they ignored, now I am helpless and in frustration.
P. Venu
(Expert) 05 December 2017
Does the house belong to you or your parents?
Any how, the Adalat cannot force any decision upon you; matters are settled there by compromise between the parties. However, once the matter is settled and decree is drawn up it could be got executed like any other civil decree.
Guest
(Expert) 05 December 2017
Loj Adalat's Orders are not entitled for any Appeal
Guest
(Expert) 05 December 2017
Lok Adalat Orders would be pronounced only with the consent of both the parties.
Guest
(Expert) 05 December 2017
What ever you had stated about your convenience to pay it could be stated in the Lok adalat and if the other side agrees matter ends or you could state you are not ready for it and it would be transferred to normal courts.
