I HAVE TAKEN LOAN FROM ONE BANK WHICH IS PRINCIPLE OUTSTANDING TILL 01.01.2011 IS 1232000/-
FROM 2011 TO 29.11.2014 BANK HAS FIRED A LEGAL ON ME. AND DRT DECLARE AND ISSUE RECOVERY CERTIFICATE AGAINST ME ON 01-05-2013. FROM 2011 TO 2014 DRT DECLARE ON ME WITH INTEREST 3300000/- (18%PA). BUT DRT HAS ISSUED KURKI NOTICE AGAINST ME. I SETTLE DOWN THIS ACCOUNT WITH BANK IN 1232000/- MEANS ONLY IN PRINCIPLE. BUT WHEN WE GO TO DRT AND FILE CONSENT THE DRT RECOVERY OFFICER SAID I WILL NOT ACCEPT THIS SETTLEMENT. AND YOU HAVE TO PAY FULL RECOVERY CERTIFICATE + INTEREST. BANK LAWYER SAID SIR THIS IS PRINCIPLE AND WE AGREE TO SETTLE BUT RECOVERY OFFICER DO NOT ACCEPTING. GIVEN INSTRUCTION TO BANK THAT YOU HAVE TO SUBMIT RBI GUIDELINE FOR THIS AMOUNT AND YOUR BANK INTERNAL POLICY THAT YOU CAN SETTLE WHEREVER YOU WANT.
I DONT KNOW WHAT HAPPEN THE RECOVERY OFFICER IS GOD.
WHEN TWO PARTIES SETTLE OUT OF COURT THEN RECOVERY OFFICER WHAT HAVE PROBLEM.
IN NORMALLY RJS IT IS ACCEPTING WITHOUT ANY DISCUSSION.
IS IT POSSIBLE THAT RECOVERY OFFICER CANCEL SETTLEMENT?
WHEN I ALREADY PAID ONE INSTALLMENT AND SECOND COMING SOON.
IF RECOVERY OFFICER DO NOT ACCEPT THEN WHAT SHOULD I DO?
