Personal loan

Question

I have a taken loan from rbl credit card bank. Due to corona I couldnt pay the emi amount I loss my job. No financial support from my family. The rbl bank executives are tortured me for loan amount. Iam getting 4to5 calls per day. In this regard I want suggestions please thank you.

Vidhikarya · Accepted Answer

Dear SirICCI Bank Limited vs. Prakash Kaur caseThe Supreme Court in a landmark judgement  reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.     We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.     The court while dismissing the ICICI Banks plea refused to delete the Delhi High Courts remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.     It also asked the ICICI Bank to to pay Rs 25000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months keeping in view the gravity of the allegations.     The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.     According to the court complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.     Reiterating the RBI Guidelines on Engagement of Recovery Agents the court said The Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area either jurisdictional or functional for a limited period. In case of persistent breach of above guidelines Reserve Bank may consider extending the period of ban or the area of ban.     RBI had expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law Justice Bhandari writing the verdict for the bench stated.     RBI in a letter accompanying its April 24 2008 Guidelines had stated that it might consider imposing a ban on a bank from engaging recovery agents in a particular area either jurisdictional or functional for a limited period.     ICICI Bank had moved the apex court seeking deletion of some paragraphs in the High Court order which had said that ...the proximate cause of death of the deceased that led him to commit suicide was on account of humiliation caused by the Bank people from where loan was taken by him.     The modus-operandi employed by the banks like ICICI for realisation of their loan amount and for recovering the possession of the vehicle against which loans are given is extra legal and by no stretch of imagination they can be permitted to employ musclemen and goons for recovery of their dues even from a defaulting party the High Court had observed.     The High Court order had come on a petition filed by Shanti Devi Sharma the deceaseds mother seeking a probe against the ICICI bank and its staff for the unlawful action which led to the suicide of her 34-year old son Himanshu Dev Sharma.     Sharma had committed suicide in October 2005 by hanging himself at his house after he was allegedly intimidated and humiliated in front of his neighbours and family by recovery agents employed by the bank for recovering the loan amount taken for his motorcycle.     The ICICI Bank had contended that it was within its rights to recover loans and had followed the required procedure for recovering dues.Rate me Five Star

Vidhikarya · Answer

Firstly go to tha bank and had a metting with the competent authority and tell him about your financial condition ..surely he cooperate with you...Secondly he will not agree with you..then sent a written request to him for resheduling of the loan amount ...resheduling is another option..3rd if these two ways are not helped you . Then file a civil suit for permanent and mendatatory injunction for restraining the bank and his agent to call and visit to your place.....4th if u r from delhi...i can file mediation before any case.....If u have any problem.then fel free to contact me...

Vidhikarya · Answer

You should try to contact bank personal directly and approch them to give you time or you can send them legal notice.

Vidhikarya · Answer

Hello You should try and contact bank about the financial condition also if necessary send them a legal notice

Vidhikarya · Answer

Hi At first try to communicate with bank and come to some settlement and if this does not works you may send them a legal notice for the same

Vidhikarya · Answer

you ask for emi conversiontransfer loan to another card which can not happen in your case.Hope this clarifiesAdvocate Ankur GoelComplete Law Shield  YourLifeYourChoiceNote - This is just a small advice. Proper advice can happen only after going through details.

Type of Consultation	Fees
Phone Consultation	₹	Not Yet Updated
Meeting Consultation	₹	Not Yet Updated
Email Consultation	₹	Not Yet Updated
Video Conference	₹	Not Yet Updated
Request for quotation from the Lawyer.