Legal notice not replied is a advantage or not

Hi

Bymere not repling to your notice is not accepting the claim

Is there is any proof for loan given and there is a limitation of 3 years. Court case takes long time. I suggest you try to get through intermediaries like friends/relatives. Forget interest, try to get principle.

I have taken a business loan from barclays bank about 20lac. in this i had paid 5 installment. after i could'nt continue. i have taken this loan in 2008 mid. now barclays sell this loan to kotak mahindra bank in 12.3% of principle amount. now kotak file a case againt me in DRT about 36 lac. Is it Possible to Settle this account in 12.3% + further charges.

There is no any law that say The Bank Will never cross Principle amount. or buying percentage. I heard that this money is public money. so you can not keep. but i want to say kotak is doing what, he is purchasing the pool in minimum amount and gaining profit. which is much much much bigger appx. 200%.

SC or High Court never interfare between that. and there is no any law.

Barclays bank is foreign bank and he is sold out this pool in very law persentage.

please send me suggestion about this.

what should i do?

Can i do any legal work againt kotak?

or Can I  get Relif?

as you have given 3lacs to this do you have any document proof mere sending the legal notice thus not solve to file the case in the court in the court you have to prove that he had taken the amount and avoided to pay you the amount and interest and also no reply 

legal notice is a proof that you gave him a fair chance to repay the amount without going through legally to court but he had not used that chance and avoided this would be a point in your case that he avoided legal notice to repay the amount 

amit 

you should initiate a new thread 

first see the terms and conditions of your loan papers that barclays can sell your loan to another bank and if this clause is clear then about interest part also they may have stated 

and the point is mentioned then you have to talk to the bank authorities to pay in one time settlement and request them to wave off the interest part or DRT

With regard to query of Mr. Sanjeev,  I agree with Mr. Srikanth and Mr. SR Shetty.  However, in case you prove the amount of Rs.3,00,000/-  debited in your account or you have shown the loan in your ITR or any other proof  of Rs.3,00,000/-  as  white money, immediately file the suit for recovery.  On proving your claim, non-replying the notice by your friend can be a ground i.e. it amounts to admission on the part of your friend.

It is an advantage.

I am also facing the same issue which sanjeev mentioned

My uncle borrowed an amount of Rs.1,50,000/- from me on May 2013. The only proof that I have are my Bank account statements that indicate myself transferring this amount to my uncles bank account. I did this money transfer via Online Banking via NEFT.

It's been more than an year and a half now, despite I asked my uncle to repay my money at various instances over phone he hasn't repaid it back.

He sent me an SMS to my mobile saying that he shall pay it as early as possible, he was saying the same over phone when ever I called him in the past, now a days he is not even picking my phone calls.

My Grandmother from my mother's side who is also the mother of my uncle who borrowed the above said money from me is the witness of this transaction and she agreed to come to any court of law for me to help me get my money back from my uncle.

Do the bank account statements stand  as a proof in the court of law, I also have my grandmother (my uncle's mother) as a witness of this transaction who would come for me to any court to help me get my money back.