Personal loan repayment

Personal loan is unsecured loan.

You are not a borrower or gurantor severly or jointly.

You have performed your moral obligation as having called the borrower and having informed the bank representative, about latest whereabouts of borrower.

Bank representative and hence bank thru its representative has acted illegally by threatening you. You may record the calls of  Bank representative and obtain his/her address, designation etc and speak outr clearly that you have acted in goodfaith and provided the whereabouts of borrower and he/she must not coerce or threaten you or you shall be constrained to take action in alwful manner and report the matter of threats to police and lawyer and MD/Chairman of the bank. You may indeed lodge a complaint with police,MD/Chairman/Nodal officer of the bank.It shall still better if you visit the local RO of the bank and submit a written representation to local BM/RM/CM of the bank under proper acknowlegment and lodge a complaint that you are not borrower/gurantor still bank is coercing and threatening you to pay, and bank should phone calls to you at once.Later you make the BM/RM/CM a party if the need be.

Alternatively you may entrust the matter to your lawyer and a legal notice may be sufficient.

Dear Sir, Thank you very very much for your quick response. I am very much relieved because of your reply. Now I can talk to them with more confidence.

Vikrant Tamhane.

Lodge a complaint with Banking Ombudsman, Reserve Bank of India.  They have no business to threaten you, you are not party to the case nor you have any legal obligation to ensure the person to whom you have reference gets in touch with the Bank.

If you are not a borrower or guarantor or surety and was only an introducer of the account of another person, you don't have personal liability for the loan taken by the said person.  If the recovery agents or the officials of the bank call or trouble you, cuase to send a lawyer notice to the bank and inform them that if any further harassment done by them, you would be constrained to proceed necessary steps under civil and criminal law.

Dear sir,

Thank u for your solution on my problem.

The ICICI bank engages the out sourcing agency for collection of dues, they would give you an impression that they are speaking from the bank. The fact is that the muscle men established with political patronage such collection agencies and taking shelter under the law.You record their voice and phone numbers and sent e-mail to customer care with the numbers from which you are getting calls and message of the call since mails are valid under the law. The icici plays all murky tricks to threatens you and even inform the cibil about you to spoil your credit history, beware of it and slap a legal notice to bank through a lawyer who has got experience in such matters and file a polce complaint against the collection agency. The RBI issued several guidelines about collection of dues from the defaulters but no use to customers. Unless you act swiftly to take legal action the bank will spoil your career with out informing you.

Narender Reddy.